- Title
- Demandeur-centricity in transnational commercial law
- Creator
- Gopalan, Sandeep
- Relation
- Theory and Practice of Harmonisation p. 163-179
- Relation
- http://www.e-elgar.co.uk/bookentry_main.lasso?id=13866
- Publisher
- Edward Elgar
- Resource Type
- book chapter
- Date
- 2012
- Description
- Theoretical explanations for the structuring of transnational commercial law agreements are limited by their focus on the state. Given the dispositive nature of transnational commercial law, this chapter contends that the key actors are private demandeurs, and that agreements are reflective of their preferences and relative power. I have explained the limitations of the state-centric approach in other works, and do not elaborate on those arguments here. This chapter will limit itself to outlining the central claim, of the demandeur-centric approach for the process of creating transnational commercial law. It demonstrates that agreement design is predicated on two variables - bargaining costs and enforcement costs. The operation of these variables spawns agreements ranging from non-convention agreements, which result when demandeurs possess the ability to strike agreements at low cost and are able to enforce them without much reliance on state actors, to conventions, which result when bargaining and enforcement costs are high.
- Subject
- transnational commercial law; private demandeurs; contracts
- Identifier
- http://hdl.handle.net/1959.13/1053100
- Identifier
- uon:15524
- Identifier
- ISBN:9781849800013
- Language
- eng
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