Banking scholars also argue that Islamic law blocked indigenous financial modernization in Muslim countries because of an inheritance system that restrained capital accumulation, inhibitions on pooling resources that discouraged investment diversification, and a traditional aversion to the concept of legal personhood for corporations, which hampered the development of financial entities.

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While there are still some skeptics, the reality is that virtual law offices are a much-needed modernization that can benefit both lawyers and their clients.

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But the industry and its allies pushed for more, leading to passage of the FAA Modernization and Reform Act, signed into law Feb. 14.

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Absent modernization, argue the sons-in-law, Downton will fail.

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They want to continue down the path of modernization, respect for private capital, the rule of law and the need for a legal order that can guarantee rights, liberty and ensure that economic transactions are subject to legal protection.

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