The three and a half minute transaction : boilerplate and the limits of contract design /

The three and a half minute transaction : boilerplate and the limits of contract design /

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Bibliographic Details
Author / Creator:	Gulati, Mitu.
Imprint:	Chicago : University of Chicago Press, 2013.
Description:	1 online resource.
Language:	English
Series:	Chicago series in law and society Chicago series in law and society.
Subject:	Standardized terms of contract. Contracts -- Language. Foreign trade regulation. Contracts -- Language. Foreign trade regulation. Standardized terms of contract.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/11167716

Hidden Bibliographic Details
Other authors / contributors:	Scott, Robert E., 1944-
ISBN:	9780226924397 0226924394 1283833700 9781283833707 9780226924380 0226924386
Digital file characteristics:	text file
Notes:	Includes index. Includes bibliographical references and index. Print version record.
Summary:	Boilerplate language in contracts tends to stick around long after its origins and purpose have been forgotten. Usually there are no serious repercussions, but sometimes it can cause unexpected problems. Such was the case with the obscure pari passu clause in cross-border sovereign debt contracts, until a novel judicial interpretation rattled international finance by forcing a defaulting sovereign-for one of the first times in the market's centuries-long history-to repay its foreign creditors. Though neither party wanted this outcome, the vast majority of contracts subsequently issue.
Other form:	Print version: Gulati, Mitu. Three and a half minute transaction. Chicago : University of Chicago Press, 2013 9780226924380

Table of Contents:

Introduction
A story of sticky boilerplate begins in Brussels
The sovereign bond contract
Theories explaining the stickiness of contract boilerplate
The importance of Elliott : the official story
Market responses
The faithful lawyer
The imperfect agent
Rituals and myths
The hunt for Pari Passu
The agency costs of big law
Epilogue.