This book contains a comprehensive survey of the law relating to long-term bonds issued on the International Securities Market and certificates of deposit and commercial paper issued for shorter periods, again on the same market. The coverage of the book takes in the mechanics of issuing International Bonds and debt securities in this country and overseas (particularly in the United States), the various agreements which are entered into by the participants in the marketing operation, the terms on which bonds, certificate of deposit and short-term commercial paper are issued (particularly the terms as to the conversion of bonds into equity securities and the conferment of subscription rights for equity securities on bondholders), the various obligations imposed by law or by the terms of the contract on the company which issues the bonds or short-term securities, the effects of default by the issuers and, finally, the conflict of law problems which arise in connection with International Bonds and short-term security issues.

The book is excellently researched, and its presentation of the relevant English and foreign law (particularly United States law) is comprehensive, accurate and extremely well done. The reader who is not familiar with the International Bond Market will readily follow the book’s explanation of the machinery and procedure of the market, and he will also appreciate the clear and comprehensive presentation of the law relating to the issuer’s obli