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.

Table Of Contents

Chapter 1: Transnational Contract Law 1

Part I General

1.1 Introduction 

1.2 Formation of Contracts in Civil and Common Law 

1.3 The Normative Interpretation Technique in Practice: The Civil Law Notion of Good Faith, the Common Law Alternatives, Liberal Interpretation and the Role of Other Sources of Private Law 

1.4 Performance of the Contract, Defences, Default, Excuses, Termination 

1.5 Privity of Contract 

1.6 The UNIDROIT and European Principles of Contract Law. The Vienna Convention and UCC Compared. The Draft Common Frame of Reference in the EU and the Draft EU Regulation on a Common European Sales Law 

Part II Contracts for the International Sale of Goods

2.1 The Main Aspects of the International Sale of Goods 

2.2 Ancillary Arrangements in International Sales. The Role of Intermediaries and Documents 

2.3 The Uniform International Sales Laws. The Vienna Convention or CISG 

Part III Contractual Agency

3.1 The General Notion of Agency 

3.2 International Aspects of Agency 



Chapter 2: Transnational Movable Property Law 

Part I Ownership, Possession and Limited, Future, Conditional or Temporary Proprietary Rights in Chattels and Intangible Assets

1.1 Introduction 

1.2 The Types of Proprietary Rights in Civil Law 

1.3 The Types of Proprietary Rights in Common Law: The Practical Differences from Civil Law. Modern Functional Theories 

1.4 Transfer of Proprietary Rights in Chattels in Civil and Common Law 

1.5 Proprietary Rights in Intangible Assets in Civil and Common Law 

1.6 Trusts. Constructive and Resulting Trusts, Tracking and Tracing. Agency. The Civil Law Response 

1.7 Secured Transactions and Conditional or Finance Sales. Floating Charges 

1.8 Private International Law Aspects of Chattels 

1.9 Private International Law Aspects of Assignments 

1.10 The Modern Law of Chattels and Intangibles 

1.11 The European Draft Common Frame of Reference 

1.12 Uniform or Harmonised Statutory or Treaty Law. The Alternative of Transnationalisation and the Need for and Emergence of a Dynamic Movable Property Law 

Part II Negotiable Documents of Title and Negotiable Instruments

2.1 The Role of Documents 

2.2 Negotiable Instruments 

2.3 The Dematerialisation of Documents of Title and Negotiable Instruments; Electronic Transfers 

Part III Investment Securities

3.1 The Different Types of Shares and Bonds 

3.2 The Transnationalisation of Custodial and Settlement Systems and its Opportunities