Full Description
The governing contract law dictates and regulates the life of a contract. Despite its importance, little is known about the choice of law decision-making process. Is there (ir)rationality involved? How can we ascertain this? How can we improve these judgements?
Rethinking Choice of Law in Cross-Border Sales is an innovative, multi-disciplinary, and practice-oriented initiative to examine what factors determine the way contracting parties choose the law to govern their agreements. It presents evidence on how negotiators approach this topic, including the main drives and triggers of their decisions.
The book also invites readers to explore and understand the idiosyncratic world of contracting parties' minds; a complex device of imperfections, cognitive limitations, and emotions. The book proposes alternatives and mechanisms to tackle, control or minimise the effects of cognitive errors within judgements. The author aims to offer both laymen and legal practitioners appropriate tools to facilitate more efficient outcomes.
Contents
Introduction; 1 Choice of Law in Practice - Empirical Studies; 2 The Unexplored World of Contracting Parties' Minds; 3 Market Distortions and Imperfections: The 'Stage' of the Art; 4 Choosing the Right Audience, or the Jurisdictional Conundrum; 5 Parties' Main Concerns and the Efficiency of Transnational Legal Standards; Conclusion
