Munich: The Price of Peace, by Telford Taylor. New York: Vintage Books. $8 .95.

This fascinating history of the peace negotiations in Munich in 1938 tells the complete, detailed story of Germany's takeover of Czechoslovakia's German-speaking Sudetenland. Taylor, the chief US prosecutor of the Nuremberg trials, writes, "The ultimate paradox of the Munich crisis is that nothing of great importance was decided at the Munich conference." Yet the text provides superb background on the political maneuvers that preceded Hitler's attack against the world.