Legal transaction management (LTM) is an instrument that allows lawyers to manage their legal transactions more effectively which saves time and money. This allows lawyers to concentrate on the legal issues that confront their clients. It can also cut down on a variety of expenses, including associates being unable to spend hours working on tasks that are not necessary logistics (courier services travel, catering, paper, storage, etc) that are incurred because of delays in transactions, as well as IT expenses.
The heart of business is legal transactions that are governed by many laws. These include leases, contracts of sale and contracts to create security interests and agreements on loan agreements and promissory note filings with government agencies as well as assignment of rights and title, insurance policies and proxy agreements. These documents require extensive drafting and a thorough understanding of legal transactional laws.
This article discusses the nature of legal transactions, and its implications for the principles of private as well as public law. This article aims to clarify Searle’s notion of legal transactions as well as show how it is applicable to public law.