Full Description
This book describes the key advantages and risks involved in the choice of law governing international business and financial transactions, plus the accompanying choice of courts. Beginning with an analysis of the role of law in social infrastructure, the work outlines the economic value and power of governing law. It concentrates predominantly on financial, corporate, commercial, and insolvency law across a vast comparative basis, discussing how legal risk can be reduced through careful choice of law and courts.
In Governing Law Risks in International Business Transactions, Philip R. Wood proposes 70 key indicators to rank the England, New York, France, and German legal systems plus many other jurisdictions on 13 risk tests. These include contract predictability, business orientation, freedom of contract, insolvency regimes, corporate law, regulatory law, courts, litigation, and other factors. The book considers all 320 jurisdictions of the world and shows how to understand them by locating them in eight families of law, each with their own features. The book explains not only choice of law principles but sets out the factors to consider the commercial and legal implications of choosing one law over another in business contracts, and is an essential resource for all commercial lawyers.
Contents
Dedication
Preface
Acknowledgements
1: What this book is about
2: Role of law
3: Scope of contracts
4: Governing law and choice of courts
5: Predictability
6: Insulation of contract from foreign laws
7: Business orientation
8: Freedom of contract
9: Exclusion clauses
10: Insolvency law indicators and risks
11: Insolvency set-off
12: Security interests
13: Commercial trusts
14: Corporate law indicators and risks
15: Regulatory law indicators and risks
16: Courts, litigation, and arbitration
17: Non-legal indicators and risks
18: Comparison of jurisdictions of the world
19: Protecting a governing law
20: History and the future
21: Conclusion
Sources and References
Index
