Law

Legal Institutions for Economic Development

Jan 4 - 14, 2002

• Introduction
 Schedule
• Participants

Introduction

Topic 1: Law of Contracts and Property 

Instructors: Lance Liebman and Lye Lin Heng

 

Lecture 1: Property Rights as the fundamental element of an economy; Property Rights under the Common Law System and the Civil Law System; Property Law versus Contract Law and their Implications in Various Transactions.

 

Lecture 2: The Fundamental Concepts of Contract Law: Consideration, Legal Title versus Beneficiary Interests in Trust; Mortgage and Condominium in the US help stabilize citizens’ sense of ownership and equality, which is the root of political stability.

 

Lecture 3: Formation of contract: Agreement + Consideration + Intention to create legal relations + Legal capacity = Contract; the Rules governing contracts.

 

Lecture 4: Telecommunication Law: Telephone, Radio and TV versus the Newspaper; Is the Internet of TV or Newspaper Nature and its implications on governments' control power?

 

Assigned Readings:

“An Overview of Contract Law”

Property, Contract, and Verifiability: Understanding the Law’s Restrictions on Divided Rights

 

 

Topic 2: Negotiation Workshop

Instructor: Carol Liebman

 

1. Introduction to Negotiation Theory and Practice Negotiation

Exercise 1: The Negotiation Game

Lecture: How Value is created? Our Own Interests versus Moral Issues? Interests of the Other Party?

2. Techniques for Creating Value and Finding Opportunities for Mutual Gain

Assigned reading: Selection from Getting to Yes

Negotiation Role Play #1: Ugli Orange

Lecture: Identifying Interests; Generating Options; Using Objective Criteria; Determining and influencing your and the other side's Best Alternative to a Negotiated Agreement

 

3. Techniques for Claiming Value and Doing as Well as Possible

Assigned reading: Lax and Sebenius, "The Negotiator's Dilemma: Creating and Claiming Value"

Role Play #2: Motor Scooter Sale

Lecture: Techniques for Claiming Value; Information Blocking; Anchoring; Concession Patterns; Persuasion; Other Claiming Techniques

 

4. Managing the Tension between Creating Value and Claiming Value

Assigned reading: Lax and Sebenius, "Where Do Joint Gains Really Come From?"

                            Mnookin, "Why Negotiation Fail"

Role Play #3: Sally Soprano

Lecture: Techniques for Managing the Negotiator's Dilemma; Dealing with Barriers to Agreement; Psychological Barriers; Information Barriers; Cultural Barriers.

 

 

Topic 3: Corporate Law

 

Instructor: Reinier Kraakman

 

Lecture 1: Corporations

Assigned reading: Henry Hansmann and Reinier Kraakman, "The Anatomy of Corporate Law: A Comparative and Functional Approach (Chapter 1: What is Corporate Law?)"

Discussion: Vietnam's Enterprise Law: the different forms of enterprises under the Law and the economic rationale for each form. Are there other ways to increase social wealth overall?

Lecture 2: Corporate Governance

Discussion: Issues not covered by Vietnam's Enterprise Law (not the case in many other countries) - Control Transactions, Stocks Transactions, Venture Capital Problem. 

 

Topic 4: Comparative Law

 

Instructor: Gary Bell

 

Lecture 1: Contract Law in the Common Law System versus the Civil Law System - an comparative approach to various aspects of transactions and contracts.

 

Lecture 2: The History of the Common Law Tradition and a good understanding of this Tradition can help explain the difference between the two main legal systems in the world today - a comparative approach with meaningful examples.

 

Assigned Readings: Lisbeth Campbell, "Drafting Styles: Fuzzy or Fussy?"
Rene David and John E. C. Brierley, "Major Legal Systems in the World Today (pp 376-382)"

 

 

Topic 5: Project Appraisal

Instructor: Cao Hao Thi

 

Lecture 1: Project Appraisal Framework

 

Lecture 2: Project Appraisal Framework; Benefit and Cost Analysis; Benefit and Risk Trade-off and its implications on Negotiation and Projects

 

Lecture 3: Risk Modeling

 

 

Topic 6: Doing Deals

Instructor: Brian Quinn

 

Lecture 1: Strategic Bargaining Games - Opportunism in One-Shot Transaction

 

Lecture 2: The Coase Theorem and the Perfect Competitive Model with its strict assumptions; Market Failures resulting in high Transaction Costs

 

Lecture 3: Strategies to reduce Costs - Transaction Costs, Search Costs, Negotiation Costs and Enforcement Costs - and Implications on Structuring Deals and Drafting Contracts

 

Case Studies:

Contracts and Business Disputes

Development of the Private Sector - Property Rights

 

Assigned Reading:

Legal Reform and its Context in Vietnam