The main substance of this book was originally delivered in April, 1948, as the second series of lectures given at Lawrence in honor of Judge Nelson Timothy Stephens, a founder of the University of Kansas Law School. I have, however, considerably modified and enlarged the text in the light of changing world conditions.

The Judge Stephens Lectureship of the School of Law is supported by an endowment left by his daughter, Miss Kate Stephens, an alumna of the University.

July 14,1950 ADOLF A. JR. BERLE