This is the seventh edition of the leading work on transnational and comparative commercial, financial, and trade law, covering a wide range of complex topics in the modern law of international commerce and finance. As a guide for students and practitioners it has proven to be unrivalled. The work is divided into three volumes, each of which can be used independently or as part of the complete work. Volume 1, in the first chapter, covers the roots and foundations of private law; the different origins, structure, and orientation of civil and common law; the forces behind the emergence of a new transnational commercial and financial legal order, its meaning, concepts, and operation; the theoretical basis of the transnationalisation of the law in the professional sphere in that order; its methodology and the autonomous sources of the new law merchant or modern lex mercatoria, its international finance-driven impulses, and its relationship to domestic and transnational public policy and public order requirements. The second chapter covers the transnationalisation of dispute resolution in that order, especially international arbitration, and contains a critical analysis of the main challenges to its success, continuing credibility, and effectiveness. All three volumes may be purchased separately or as part of a single set.

“This is a big book, with big themes and an author with the necessary experience to back them up... Full of insights as to the theories that underlie the rules governing contract, property and security, it is an important contribution to the law of international commerce and finance.” (Law Quarterly Review) Volume 1 of this new edition covers the roots and foundations of private law, the different origins, structure, and orientation of civil and common law, and the social and cultural forces behind it. It analyses the practical needs and market forces behind the emergence of a new transnational commercial and financial legal order, its international finance-driven impulses, concepts, and operation; the theoretical basis of the transnationalisation of the law in the professional sphere in that order; the autonomous sources of the new law merchant or modern lex mercatoria derived from the method of public international law, as well as its relationship to domestic and transnational public policy and public order requirements. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.

“... remains a must read for practitioners and academics interested in more than the substantive law of trans-border commercial activity.” (King's Law Journal) Volume 2 of this new edition covers the transnationalisation of dispute resolution, especially arbitration, and contains a critical analysis of the main challenges to its success, continuing credibility, and effectiveness. The volume distinguishes between commercial, financial, and foreign investment arbitration and concentrates on the status, role, and reasoning of international arbitrators, their limited powers especially in matters of public policy and in property matters, the threat of judicialisation, and the need to connect with mediation and a settlement ethos. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.

This is the seventh edition of the leading work on transnational and comparative commercial, financial, and trade law, covering a wide range of complex topics in the modern law of international commerce, finance and trade. As a guide for students and practitioners it has proven to be unrivalled. The work is divided into three volumes, each of which can be used independently or as part of the complete work. Volume 2 deals with the transnationalisation of contract; movable and intangible property law; and the transformation of the models of contract and movable property in commercial and financial transactions between professionals in the international flow of goods, services, money, information, and technology. In this transnational legal order, the emphasis in the new law merchant or modern lex mercatoria of contract and movable property turns to risk management, asset liquidity, and transactional and payment finality. Common law and civil law concepts are compared and future directions indicated. The potential, effects, and challenges of the blockchain are noted, so far especially for the carriage of goods by sea. All three volumes may be purchased separately or as part of a single set.

This is the seventh edition of the leading work on transnational and comparative commercial, financial, and trade law, covering a wide range of complex topics in the modern law of international commerce and finance. As a guide for students and practitioners it has proven to be unrivalled. The work is divided into three volumes, each of which can be used independently or as part of the complete work. Volume 3 deals with financial products and financial services; the structure and operation of banking and of the capital markets; the role of modern commercial and investment banks; and financial risk, stability and regulation, including the fallout from the 2008 financial crisis and the subsequent regulatory responses in the US and Europe. In sections on products and services, the blockchain and its potential are noted in the payment system, in the custodial holdings of investment securities, and in the derivative markets. A section on regulation critically reviews the need for macro-prudential supervision and an independent macro-prudential supervisor, the role of resolution authorities, the operation of the shadow banking system, and the extraterritorial reach and international recognition of financial regulation. All three volumes may be purchased separately or as part of a single set.

“... presents a very different case: that of a civilized and cultivated cosmopolitan legal scholar, with a keen sense of international commercial and financial practice, with an in-depth grounding in both comparative legal history and comparative law, combined with the ability to transcend conventional English black-letter law description with critical judgment towards institutional wisdom and intellectual fashions.” (International and Comparative Law Quarterly) Volume 5 of this new edition uses the insights developed in Volumes 3 and 4 to deal with financial products and financial services, the structure and operation of banking and of the capital markets, and the role of modern commercial and investment banks. Sections on products and services address the blockchain and its potential in the payment system, in securitisations, in the custodial holdings of investment securities, and in the derivative markets. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.

“... a highly valuable contribution to the legal literature. It adopts a useful, modern approach to teaching the young generation of lawyers how to deal with the increasing internationalisation of law. It is also helpful to the practising lawyer and to legislators.” (Uniform Law Review/Revue de Droit Uniforme) Volume 4 of this new edition deals with movable and intangible property law. The book addresses the transformation of the models of movable property in commercial and financial transactions between professionals in the international flow of goods, services, money, information, and technology. In this transnational legal order, the emphasis in the new law merchant or modern lex mercatoria of movable property turns to risk management, asset liquidity, and transactional and payment finality. Particular attention is given to the notion of assets and asset classes, the inclusion of monetary claims, the transformation of assets in production and distribution chains, and the type of user, income and enjoyment rights that can be established in them, when they become proprietary, what that means, the role of party autonomy in the creation and operation of these rights, and how they are handled between professional participants and upon a sale to consumers. The volume compares common law and civil law concepts - the one being geared to improving value, the other to consumption; it then identifies their relevance especially in modern finance, and concludes by indicating future directions. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.

Transnational Commercial Law is a textbook that deals predominantly with substantive legal contract rules that apply across borders and are designed to govern cross-border business transactions. This is an emerging field of research, teaching and practical interest in international trade and commercial law, requiring reference to multiple areas of law, including both private and public international law, the law of specific commercial transactions and arbitration. For the first time Transnational Commercial Law combines all these relevant issues in one book, and provides a basis for further study as well as detailed, cutting edge academic analyses. It provides a compact yet accessible guide to the most important cornerstones of this evolving legal discipline. Transnational Commercial Law is aimed primarily for use on LLM courses and master's programmes in commercial law. Students are presented with the actual contractual rules in the wider context of the general legal framework, and situates it within the theoretical debate, providing a truly international perspective on transnational commercial law in a globalised world.

This book tackles one of the most challenging fields of research and practice in the current global trade environment: integrating doctrines of private and public law for the purpose of international commerce and trade. Traditional concepts of obligatory and proprietary claims and rights reach their limits when placed within an international context of litigation funding, liability and securitisation. Across disciplines, scholars and practitioners are seeking new ways of expanding and reconnecting novel products and services such as data; and the use of international dispute settlement with indispensable constitutional values and democratic processes is also growing. This book combines contributions on current issues in commercial contract and contract law, making an important contribution to the areas of substantive contract law and arbitration procedure that connect issues across disciplines. Exploring both substantive and procedural laws, the book explores unfair terms in non-consumer contracts, which is complemented by a broader contextual discussion of the regulation of platform operators in the European Union; while a discussion of the procedural role of public reporting of investment arbitration awards by the International Centre for the Settlement of Investment Disputes (ICSID) expands on the procedural aspects of arbitration within the wider context of the rule of law debate. Debating policy issues in general private law reform, and including a juxtaposition of a traditionalist continuation-oriented approach and a call for radical reform of entrenched and outmoded private law concepts to suit global commerce, this book will be of interest to students, academics and practitioners working in the area of commercial contract law and arbitration.

The book provides an analysis of the emergence, evolution, and transformation of transnational securities regulation and of the influences from and the interactions between global regulatory powers in the field. Combining insights from law and political science, the work employs a two-tier complementary "on-the-books" and "in-action” approach. The more classical "on-the-books" approach draws on scholarship in United States and European Union securities regulation; transnational regulation and global administrative law; regime complexity; global governance studies; and the regulatory production of the International Organisation of Securities Commissions (IOSCO). The law in-action approach leverages the author’s experience as Compliance senior professional in a multinational financial institution as well as research interviews with senior IOSCO staff. The author’s findings enable the reader to develop an original understanding of IOSCO, its standards, and its unique place in the transnational regulatory arena. They also challenge the doxa that the US are the only driving regulatory power in the securities area when in fact, other regulatory powers are emerging – for the time being, the EU. The balance has shifted and regulatory compromises are achieved at different points in the rule making process.