Exploring the Role of Commercial Lawyers in Business
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Questions and Answers

What is the primary role of a transactional lawyer?

  • Drawing up documents to achieve desired effects for clients (correct)
  • Acting as reputational intermediaries
  • Providing legal opinions to the buyer and the seller
  • Verifying information at minimal cost

    • In a corporate acquisition agreement, what do the transaction costs mainly arise from?

  • Disagreement about the size and risk of future income
  • Verifying information at minimal cost
  • Costs of acquiring information for the parties (correct)
  • Legal opinions provided by seller's counsel

    • In the context of law-as-engineering, what does the design of new devices involve?

  • Acting as reputational intermediaries
  • Providing legal opinions to the buyer and the seller
  • Drafting contracts for corporate acquisitions
  • Creating innovative legal solutions to address specific needs (correct)

    • What is the purpose of a scrip dividend as an example of a new legal device?

    <p>To allow shareholders to decide whether to receive the dividend in cash or in new shares</p> Signup and view all the answers

    What is the main focus of lawyers as cost engineers in the context of a corporate acquisition agreement?

    <p>Managing and minimizing transaction costs</p> Signup and view all the answers

    What is the primary role of lawyers in facilitating business transactions?

    <p>Drawing up documents to achieve desired effects for clients</p> Signup and view all the answers

    In a corporate acquisition agreement, what primarily leads to transaction costs?

    <p>Costs of acquiring information by buyer and seller</p> Signup and view all the answers

    What is the main focus of lawyers as cost engineers in a corporate acquisition agreement?

    <p>Verifying information at minimal costs</p> Signup and view all the answers

    In the context of law-as-engineering, what does the design of new legal devices involve?

    <p>Creating innovative solutions to legal problems</p> Signup and view all the answers

    What is the primary role of a transactional lawyer?

    <p>Facilitating business transactions through legal document drafting</p> Signup and view all the answers

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