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Optional Law

Author: Ian Ayres
Publisher: University of Chicago Press
ISBN: 9780226033488
Size: 58.27 MB
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Spurred by the advances in option theory that have been remaking financial and economic scholarship over the past thirty years, a revolution is taking shape in the way legal scholars conceptualize property and the way it is protected by the law. Ian Ayres's Optional Law explores how option theory is overthrowing many accepted wisdoms and producing tangible new tools for courts in deciding cases. Ayres identifies flaws in the current system and shows how option theory can radically expand and improve the ways that lawmakers structure legal entitlements. An option-based system, Ayres shows, gives parties the option to purchase—or the option to sell—the relevant legal entitlement. Choosing to exercise a legal option forces decisionmakers to reveal information about their own valuation of the entitlement. And, as with auctions, entitlements in option-based law naturally flow to those who value them the most. Seeing legal entitlements through this lens suggests a variety of new entitlement structures from which lawmakers might choose. Optional Law provides a theory for determining which structure is likely to be most effective in harnessing parties' private information. Proposing a practical approach to the foundational question of how to allocate and protect legal rights, Optional Law will be applauded by legal scholars and professionals who continue to seek new and better ways of fostering both equitable and efficient legal rules.

Chinese Small Property

Author: Shitong Qiao
Publisher: Cambridge University Press
ISBN: 1316812162
Size: 57.69 MB
Format: PDF
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Small property houses provide living space to about eight million migrant workers, office space for start-ups, grassroots police stations and public schools; their contribution to the economic growth and urbanization of a city is immense. The interaction between the small property sector and the formal legal order has a long history and small property has become an established engine of social and legal change. Chinese Small Property presents vivid stories about how institutional entrepreneurs worked together to create an impersonal market outside of the formal legal system to support millions of transactions. Qiao uses an eleven-month fieldwork project in Shenzhen - China's first special economic zone that has grown to a mega city with over fifteen million people - to demonstrate this. A thorough and detailed investigation into small property rights in China, Chinese Small Property is an invaluable source of new information for students and scholars of the field.

The Common Place Of Law

Author: Patricia Ewick
Publisher: University of Chicago Press
ISBN: 022621270X
Size: 70.83 MB
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Why do some people not hesitate to call the police to quiet a barking dog in the middle of the night, while others accept the pain and losses associated with defective products, unsuccesful surgery, and discrimination? Patricia Ewick and Susan Silbey collected accounts of the law from more than four hundred people of diverse backgrounds in order to explore the different ways that people use and experience it. Their fascinating and original study identifies three common narratives of law that are captured in the stories people tell. One narrative is based on an idea of the law as magisterial and remote. Another views the law as a game with rules that can be manipulated to one's advantage. A third narrative describes the law as an arbitrary power that is actively resisted. Drawing on these extensive case studies, Ewick and Silbey present individual experiences interwoven with an analysis that charts a coherent and compelling theory of legality. A groundbreaking study of law and narrative, The Common Place of Law depicts the institution as it is lived: strange and familiar, imperfect and ordinary, and at the center of daily life.

Chinese Company And Securities Law

Author: Chengwei Liu
Publisher: Kluwer Law International
ISBN: 9041126198
Size: 75.94 MB
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China enjoys the highest level of foreign investment of any country in the world today, and is to all appearances intent on maintaining and even increasing that level. Yet, despite substantial liberalisation pursuant to China's WTO commitments, investment in China remains tightly circumscribed. For complex reasons stemming from China's protection of its own internal economy, the government hedges each form of foreign invested enterprise (FIE) with complex rules for qualification and approval. Many sectors of the economy remain fenced off from foreign investors, while investors in other sectors face a gauntlet of regulatory approvals at nearly every important stage of business. The result is a complex system of laws, regulations, and guidelines, bristling with challenges and uncertainties for even the simplest restructurings, that sometimes apply across the board to all FIEs and sometimes only to a particular kind of FIE. This detailed, systematic explanation--by a practising lawyer at one of the biggest law firms in China--provides thorough and up-to-date guidance on the rules and procedures affecting investments, mergers and acquisitions, and listings in China today. Focusing on such practical matters as applications, regulatory requirements, and transactional procedures, the author leads the practitioner through the maze of interconnected national and local authorities, with lucid explanation of the lines drawn as to total investment amount, sector or category of business, industrial compliance, geographic location, and various imposed restrictions, with expert knowledge of when and under what circumstances various rules apply and when they do not. Included in this superb analysis are detailed descriptions of such factors as the following: * establishment of a new FIE, including a substantial review of the articles of association or shareholders' agreement; * the equity or shares transfer in, or merger with or by, an existent FIE; * the cross-border acquisition of a domestic company by foreign investors; * the meaning of the official classifications 'encouraged,' 'permitted,' 'restricted,' and 'prohibited' * enforcement (or enforceability) of certain approvals, depending on context; * permits (e.g., for advertising); * foreign exchange controls; * taxation and accounting matters; * export and import and customs duties; * eligibility for certain preferential treatments; * equity or contractual joint venture with Chinese parties; and * 'controlling' or 'relatively controlling' shareholding of Chinese parties. For law firms advising companies on investing in China, or for in-house counsel, this book is without peer as a comprehensive, reliable, and easy-to-use resource. At every stage of a project, from the initial business decision to problems arising after successful start-up and during day-to-day operations, it will provide clear, authoritative guidance for years to come.

Law And Economics Of Possession

Author: Yun-chien Chang
Publisher: Cambridge University Press
ISBN: 1316033384
Size: 79.32 MB
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Possession is a key concept in both the common and civil law, but it has hitherto received little scrutiny. Law and Economics of Possession uses insights from economics, psychology and history to analyse possession in law, compare and contrast possession with ownership, break down the elements of possession as a fact and as a right, challenge the adage that 'possession is 9/10 of the law', examine possession as notice, explain the heuristics of possession, debunk the behavioural studies which confuse possession with ownership, explore the LightSquared dispute from the perspective of 'possession' of spectrum frequency and provide new insights to old questions such as first possession, adverse possession and property jurisdiction. The authors include leading property scholars, who examine possession laws in, among others, the USA, UK, China, Taiwan, Japan, Germany, France, Israel, the Netherlands, Spain, Portugal, Italy, Austria.

The Future Of Law And Economics

Author: Guido Calabresi
Publisher: Yale University Press
ISBN: 0300216262
Size: 27.52 MB
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In a concise, compelling argument, one of the founders and most influential advocates of the law and economics movement divides the subject into two separate areas, which he identifies with Jeremy Bentham and John Stuart Mill. The first, Benthamite, strain, “economic analysis of law,” examines the legal system in the light of economic theory and shows how economics might render law more effective. The second strain, law and economics, gives equal status to law, and explores how the more realistic, less theoretical discipline of law can lead to improvements in economic theory. It is the latter approach that Judge Calabresi advocates, in a series of eloquent, thoughtful essays that will appeal to students and scholars alike.

Law Capitalism

Author: Curtis J. Milhaupt
Publisher: University of Chicago Press
ISBN: 0226525295
Size: 12.94 MB
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Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law’s instrumental function for financial market development and economic growth. Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.

ISBN: 9787309106343
Size: 60.42 MB
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Introduction To Brazilian Law

Author: Fabiano Deffenti
Publisher: Kluwer Law International
ISBN: 904112506X
Size: 75.65 MB
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This publication provides readers with the basic knowledge of legal concepts of Brazil in broader terms, with special emphasis on practical issues, so that the interested persons will be able to understand the system and pursue research on special legal problems by knowing the proper place to find the answer. The book will cover the following topics: Family and Succession Law Labour Law Criminal Law and Procedure Civil Procedure and Alternative Dispute Resolution Civil Liability Corporate and Insolvency Law Taxation Law Property Law Contract Law Constitutional Law Administrative Law Competition Law Consumer Protection Private International Law