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Law texts routinely present hypotheticals in which a check drawn by one person payable to another is indorsed and transferred by the payee to some other person. In fact, checks are hardly ever...

This chapter discusses why the following hypotheses are false: (i) over the past century, Japanese firms have significantly changed the way they govern themselves; (ii) from a governance regime where...

This chapter considers how an assignment is effected under the Principles of European Contract Law (PECL), and evaluates its consequences and the extent to which the divergence between systems based...

This chapter develops an alternative model to analyze and justify insolvency law, referred to as the Authentic Consent Model (ACM). Consistent with the discussion earlier in the book, its starting...

This chapter presents a prospectus and entreaty on the vital importance of interdisciplinary academic study of debt. The power of interdisciplinary research, particularly empirical claims, in the...

Lawyers commonly assume that the bank always wins disputes over unauthorized check transactions. That assumption is backwards. The baseline rule is that banks, as the providers of the check payment...

This chapter is concerned with the banking relationship within which collections and payments occur. It highlights the account agreement or customer contract, the deposit transaction, the mandate...

This chapter discusses the issue of battle of forms in contract law. It explains that a battle of forms arises where each of the parties to what they at least perceive as a contract have employed...

This chapter explores the changing role of the board. The literature has traditionally identified three functions performed by boards of public corporations. First, the board monitors and disciplines...