Finance, Law, and the Courts

Law and courts are essential for finance, providing certainty and elasticity. This book explores how law and courts influence finance's key concepts and principles, including sovereign immunity, separation of powers, central banks mandates, and creditor-creditor conflict. It also examines the interplay between specialist and generalist courts and other bodies.

Format: Hardback
Length: 592 pages
Publication date: 16 November 2023
Publisher: Oxford University Press

Law and courts are frequently overlooked in the realm of finance, as the discipline is heavily influenced by economic analysis and regulatory authorities. This leads to a de-emphasis on the role of courts in the financial system. However, Finance, Law, and the Courts, authored by esteemed experts in commercial law, finance, law, and the courts, challenges this narrow perspective. The book emphasizes the crucial role of law and courts in providing finance with the certainty it requires to function and the flexibility it needs to evolve.

In Part I of the book, the authors explore how law emerges as an interpretive construct shaped by rules and principles, driven by the need for consistency. When principles clash, courts are often called upon to resolve complex cases, leading to the evolution of the Law of Finance. Parts II and III of the book delve into the roles of courts in influencing finance's key concepts and principles. For public law, this includes examining the impact of sovereign immunity, separation of powers, and individual rights on the justiciability of financial acts, central banks' mandates, and the interplay between regulatory concepts and fundamental rights. On the other hand, private law encompasses the foundations of liability for misstatements, the validity and interpretation of financial contracts, and creditor-creditor conflicts.

The book also explores the interplay between specialist and generalist courts and other bodies in Part IV, concluding with a case for limited specialization of finance justice in the EU. By offering a comprehensive legal treatment of finance's regulatory sources, this book serves as an invaluable resource for law academics, practitioners, and policymakers seeking to gain a deeper understanding of the complex financial cases they encounter.

Dimension: 246 x 171 (mm)
ISBN-13: 9780192898692