On the factors of choosing the country of legal transplant’s origin
DOI:
https://doi.org/10.35774/app2019.04.174Keywords:
legal borrowing, legal transplant, comparative law, US law, commercial lawAbstract
Reform of the national and international financial architecture, along with economic and political (democratic) development, is the paramount target of emerging economies and developing countries worldwide. Moreover, it is an ongoing process in regional or inter- national economic integration arrangement.
Diffusion of law has been an important topic in comparative law at least since the publication of Alan Watson’s seminal book on “Legal Transplants” in 1974. The very existence of legal families spanning the globe is due to the diffusion of legal models during colonial times.
The “legal transplant” metaphor has been successful in conveying a wide-spread perception of law as quasi-organic matter, as well as a general idea about the complex and sensitive nature of any attempt to make laws and legal institutions that have evolved in one particular legal and institutional environment, work outside their natural “habitat”.
The author emphasizes that legal transplants play an important role in commercial law, especially taking into account the globalization processes that occur in the world. The article is devoted to the identification of those factors that determine the use of a particular legal system when choosing legal transplants.
Factors that determine the leading role of US law in the dissemination of their specific legal institutions or legal norms, especially in the field of commercial law, are analyzed. The author systematizes the factors that have a decisive influence when choosing a particular legal transplant.
References
Koretskyi, V.M. (2008). Mezhdunarodnoe khoziaistvennoe pravo y myrovoe pravo [International business law and world law] / Porivnialne pravoznavstvo: Antolohiia ukrainskoi komparatyvistyky ХІХ-ХХ stolit / za red. O.V. Kresina. Kyiv: Instytut derzhavy i prava im. V.M. Koretskoho NAN Ukrainy, Vydavnytstvo «Lohos», 214-225 [in Russian].
Ajani, G. “The Role of Comparative Law in the Adoption of New Codifications”, in: Italian National Reports, op. cit., 65, at pp. 68-69 and 80 [in English].
Pankevich N. Phenomena of Legal Transplants Related to the Social Model o the Post-Soviet Countries, Transformation durch Rezeption? Beiträge zum ausländischen und internationalen Privatrecht, 102, 39-64 [in English].
Mattei, U. (1994). Efficiency in Legal Transplants: An Essay in Comparative Law and Economics, 14 Int'l Rev. L. & Econ. 3, 8 [in English]. https://doi.org/10.1016/0144-8188(94)90032-9
Watson, (1974). Legal Transplants: An Approach to Comparative Law. Edinburgh: Scottish Academic Press [in English].
Lein, E. (2010). Ideals and realities: Reflections on Law Reception in Eastern European Private Law, in Eva Lein, Josef Skala, Lukas Heckendorn Urscheler, Business Law in Transition, A comparative Perspective on Eastern Europe, 13-26. [in English].
Smits, J.M. Systems Mixing and in Transition: Import and Export of Legal Models – The Dutch Experience [in English].
Bucher, E. (2006). Das Schweizerische Obligationenrecht – ein Markstein und ein Vorbild, NZZ, 132, 31 [in German].
Rainer, J. Michael (2002). Europäisches Privatrecht – Die Rechtsvergleichung, Bd. 12, Salzburger Studien zum Europäischen Privatrecht. Frankfurt [in German].
Greene, E., Boury, P.-M. Post-Sarbanes-Oxley corporate governance in Europe and the USA: Americanisation or convergence? [in English].
Fryde, M. (1945). Certain Aspects of Modern Corporations, 177-222 in Studies in Polish and Comparative Law [in English].
Mathias, M. (2007). Siems, Shareholder Protection Around The World (“Leximetric II”), Working Paper No. 359. Cambridge, 2007 [in English].
Riesenfeld, S. (1993). The Impact of German Legal Ideas and Institutions on Legal Thought and Institutions in the United States. In the Reception of Continental Ideas in the Common Law World, 1820-1920, 89, 95-96 [in English].
Heinrich, K. (2000). Globalisierung und Internationalisierung des Wirtschaftsrechts – Auswirkungen auf die nationale Gesetzgebung, ZSR 119 II, 313-360 [in German].
Weisser (1991). Corporate Opportunities, S. 19, 29 [in English].
Richard, A. (2014). Posner, Economic Analysis of Law, Ninth edition, Walters Kluwer [in English].
Mathias, M. (2008). Siems, Convergence in Shareholder Law, 226-27 [in English].
Morin, J.F., Gagne, G. (2007). What can Best Explain the Prevalence of Bilateralism in the Investment Regime. International journal of Political Economy, 36 (1) [in English]. https://doi.org/10.2753/IJP0891-1916360103
von Mehren, A.T., Murray, P.L. (2007). Law in the United States. Second Edition, Cambridge University Press, 2007 [in English]. https://doi.org/10.1017/CBO9780511809965
Fleischer, H. (2004). Legal Transplants im deutschen Aktienrecht, Neue Zeitschrift für Gesellschaftsrecht, 1129-1137 [in English].
