Theorising in Transnational Commercial Law

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ACKNOWLEDGEMENT

I would first like to express my gratitude for my research supervisor, colleagues, and peers and family whose immense and constant support has been a source of continuous guidance and inspiration.

DECLARATION

I [type your full first names & surname here], declare that the following dissertation/thesis and its entire content has been an individual, unaided effort and has not been submitted or published before. Furthermore, it reflects my opinion and take on the topic and is does not represent the opinion of the University.

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ABSTRACT

The formal structure of law and economic relations is defined by different legal hierarchies, including statute and common law, and laws with diverse content such as substantive, procedural or evidentiary laws. A study of this nature provides a better understanding of the importance of the domestic context: the role of economic institutions, identification of costly institutional gaps and in congruencies among institutions, and the need for more cohesive linkages between legal economic institutions operating at different levels. The first chapter introduces the topic, while providing problem statement, purpose and significance. The literature review is covered in the second chapter, followed by the methodology section in the third chapter. The discussion and analysis is based on qualitative secondary studies. The fourth chapter presents the relevant discussion, while the fifth chapter concludes the dissertation.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

Globalisation and Transnational Commercial Activism1

Online Contract Formation in Civil Law Jurisdictions5

CHAPTER 2: THE RULE OF LAW AND ITS CONSEQUENCES8

European Union's Reforms: Part of an International Trend8

Constitutional and Legal Bases of Commercial Law in European Union11

The EU Commercial Law Reforms and Institutional Modernisation16

Reducing Transaction Costs through New Legal Institutions19

The Crisis of Legal and Judicial Institutions in European Union23

The Legal Expression of the Changing Commercial Law Flexibility in Legal Institutions26

CHAPTER 3: THE POWER OF THE MARKET30

Global Issue Framing30

Internalisation30

Diffusion31

Scale Shift31

Externalisation33

Coalition Formation34

CHAPTER 4: IMPLEMENTING THE NEW TRANSNATIONAL COMMERCIAL LAW36

The Legal and Institutional Framework for Commercial Law36

UNCITRAL Model Law on Electronic Commerce36

Compliance vs. Efficient Performance38

Relevance to Non-Financial Organisations39

Enforcement of the Commercial Law40

CHAPTER 5: CONCLUSION42

Summary42

Limitations of the Study44

Implications of the Study45

Conclusion47

REFERENCES49

END NOTES54

CHAPTER 1: GLOBALISATION

Globalisation and Transnational Commercial Activism

The increasingly consolidated study of globalisation and commercial activism has clarified some confusion over the half-century since (Gahtan, 2008, 86) originally transposed activism research from comparative politics to commercial law activism (i.e. level of analysis), and defined activism as cause-oriented action that is by a definitional fiat not dependent on state actors (i.e. unit of analysis). Indeed, the present work deepens recognition and initiates resolution to a long-standing pair of challenges in research on transnational commercial activism: unit and level of analysis. The focus of studies in commercial law activism has evolved largely from a rich history of activism, to activism as an independent variable, increasingly to activism as a dependent variable. Interest in comparative politics has moved in the reverse direction (Drahozal, 2003, 49)

In the last 25 years, European Union has faced three major changes: the economic model, the role of the EU Member State in that model, and the heightened pressure that these first two changes have placed ...