Law Commons^™

Global Standards For Securities Holding Infrastructures: A Soft Law/Fintech Model For Reform, Charles W. Mooney Jr.

All Faculty Scholarship

Intermediaries such as stockbrokers and banks are ubiquitous in global securities markets, playing essential roles in markets, including trading, settling trades, and post-settlement holding of securities. This essay focuses in particular on the roles of intermediaries in securities holding systems. It proposes an IOSCO-led “soft-law-to-hard-law” approach to the development of Global Standards for reforms to these holding systems. States would be expected to adopt “hard law” reforms through statutory and regulatory adjustments to securities holding systems. The reforms would embrace not only important standards of a functional and regulatory nature, but also holistic standards relating to the private law, insolvency …

E-Commerce All At Sea: China Welcomes Digital Bills Of Lading Under The Electronic Signature Law 2005, Felix W.H. Chan

Oklahoma Journal of Law and Technology

No abstract provided.

Putting The Cisg Where It Belongs: In The Uniform Commercial Code, Kina Grbic

Touro Law Review

No abstract provided.

Rise Of The Intercontinentalexchange And Implications Of Its Merger With Nyse Euronext, Latoya C. Brown

Latoya C. Brown, Esq.

This paper examines the impending merger between the IntercontinentalExchange (ICE) and NYSE Euronext against the backdrop of the current structure of the global financial services industry. The paper concludes that the merger embodies what the financial services industry is becoming and captures the model that will allow exchanges to remain competitive in today’s marketplace: mega-exchanges with broader asset classes and electronic platforms. As technology and globalization threaten their vitality, exchanges will need to continue reinventing and adapting. Increasingly over the last decade they have done so by merging and by moving, at least a part of, their operations on screen. …

The Dispute Settlement Understanding Of The Wto Agreement: An Inadequate Mechanism For The Resolution Of International Trade Disputes, Sean P. Feeney

Pepperdine Dispute Resolution Law Journal

The 1994 signing of the World Trade Organization (WTO) Agreement marked the initiation of the most far-reaching and comprehensive international agreement on trade in the history of the modern world. The creation of an actual trade organization was a marked improvement over the WTO's predecessor, the 1944 GATT, which never formed an organization per se. Among the many improvements to the GATT, the WTO Agreement substantially changed the mechanism for dispute settlement whenever conflict arose between member states. This change, codified as the Dispute Settlement Understanding ("DSU"), was initially hailed as a great improvement over the GATT dispute settlement provisions. …

Uncitral Model Law On International Commercial Conciliation: From A Topic Of Possible Discussion To Approval By The General Assembly , Robert N. Dobbins

Pepperdine Dispute Resolution Law Journal

By no means a Pulitzer Prize winner, for those interested enough to inquire, the story of the creation of the Model Law is remarkable. The purpose of this Note is to give a snapshot of how, what began in the shadow of Arbitration as a "possible work topic considered by the Commission . . . Conciliation," in the space of two and one-half years became the Model Law. As a secondary and intentional focus of this note, this author (conceding his own bias) hopes to allow the Secretariat of UNCITRAL to enjoy its well-deserved moment in the spotlight for its …

Global Textiles And Clothing Trade - Trade Policy Perspectives, Umair Ghori

Umair H. Ghori

The author presents substantial case studies of the effect of the abolition of quotas on global trade in this sector. Concentrating mainly on China and Pakistan but also examining India, Indonesia, Vietnam, and seven other Asian T&C manufacturing countries, he contrasts post-abolition reality with pre-abolition predictions of the impact of abolishing quotas, and details the continuing distortion caused by tariffs, non-tariff barriers and through trade remedies such as safeguards and anti-dumping. All of the analysis is supported by the judicious use and interpretation of extensive statistics, compelling arguments, and interviews with entrepreneurs and trade officials in Pakistan (as a case …

Nafta And The Creation Of The Ftaa: A Critique Of Piecemeal Accession, Frank J. Garcia

Frank J. Garcia

No abstract provided.

Turkey's Accession To The Cisg: The Significance For Turkey And For Sales Transactions With U.S. Contracting Parties, William P. Johnson

All Faculty Scholarship

The United Nations Convention on Contracts for the International Sale of Goods (CISG) entered into force for Turkey on August 1, 2011. This article considers the significance of Turkey’s accession to the CISG as part of Turkey’s continuing engagement with systems of international trade, especially as relates to sales transactions with U.S. contracting parties. This article urges the Turkish bar to recognize that the CISG is a viable alternative to various potentially applicable bodies of domestic sales law, and the article offers some guidance regarding proper understanding and application of the CISG. This article also offers comparative analysis of some …

The Graying Of The American Manufacturing Economy: Gray Markets, Parallel Importation, And A Tort Law Approach, Joseph Karl Grant

Journal Publications

This Article examines the history of the gray market in the United States through an analysis of both the domestic legislative framework and judicial treatment of gray market goods, primarily under trademark and copyright law. Part I of this Article provides a general introduction into the structural factors that cause parallel importation. Part II begins a discussion of trademarked goods by looking at the purposes of trademark law. Part III starts by discussing the relevant doctrines and provisions of the Copyright Act of 1976, which frame the gray market discussion. Part III concludes by examining the current debate and the …

Applicable Law Provisions In International Uniform Commercial Law Conventions, Paolo E. Conci

LLM Theses and Essays

The development of international trade requires predictability and uniformity of the applicable legal framework. Such requirements can be satisfied by means of international uniform commercial law conventions, which try to set forth coherent and uniform bodies of substantial rules. A key role is also played by private international law, an instrument operating at a different level but often included in the uniform conventions themselves. This paper analyzes the relationship between international uniform commercial law conventions and private international law to investigate how it has developed over the last seventy years, and suggests a new approach to international commercial transactions in …

Un-Fair Trade As Friendly Fire: The Australia-Usa Free Trade Agreement, Benedict Sheehy

ExpressO

Trade, economists and trade theorists advise, is a mutually beneficial exercise. Among this group, a particular set of advocates, claim that “Free Trade” is in the interest of all parties. As will be demonstrated, Free Trade is not truly “free” but an exercise of foreign policy and the implementation of policies favouring wealthy corporate interest groups. Free Trade is controlled by wealthy nations who have stacked the rules in favour of themselves, and in particular their corporate interests, and against the poor producers in poor nations. This control is used contrary to fairness, economic and ecological logic. Fair trade, by …

From St. Ives To Cyberspace: The Modern Distortion Of The Medieval 'Law Merchant', Stephen E. Sachs

ExpressO

Modern advocates of corporate self-regulation have drawn unlikely inspiration from the Middle Ages. On the traditional view of history, medieval merchants who wandered from fair to fair were not governed by domestic laws, but by their own lex mercatoria, or "law merchant." This law, which uniformly regulated commerce across Europe, was supposedly produced by an autonomous merchant class, interpreted in private courts, and enforced through private sanctions rather than state coercion. Contemporary writers have treated global corporations as descendants of these itinerant traders, urging them to replace conflicting national laws with a law of their own creation. The standard history …

Reforming China's Partnership Law: Achievements, Problems And Prospects, Hongbing Fan

LLM Theses and Essays

This thesis proposes some measures to reform China's partnership law after providing an overview of China's partnership development in a historical perspective. After a brief introduction in Part I, Part II reviews the historical development of partnerships since the founding of the People's Republic of China. Much emphasis is put on significant changes since 1978. Part III examines the basic structure and content of the present laws and regulations on partnership in China. Part V highlights the problems and limits facing China's partnership law. Measures are proposed in Part IV with detailed reference to the United States partnership law. As …

Reflections On The Reform Of Antidumping Law A Case Study Of Anti-Dumping Law In The United States, Sung Hwan Kim

LLM Theses and Essays

As of the end of 1997, 29 of the 132 member countries of the WTO had some form of the antidumping regime in operation. Most of the antidumping measures were taken by developed countries, with the United States leading in the number of measures invocated, which lends support to the criticism that the United States has wielded the antidumping law for the purpose of protecting its noncompetitive domestic industry. Attendant to this criticism, and taking the United States antidumping law as a typical model law embodying the Antidumping Agreement, this thesis first looks at the evolution of antidumping law in …

U.S. Supreme Court Subordinates Enforcement Of Regulatory Statutes To Enforcement Of Arbitration Agreements, Christine L. Davitz

Vanderbilt Journal of Transnational Law

Through a series of cases culminating with Vimar Seguros Y Reaseguros v. M/V Sky Reefer, the U.S. Supreme Court has developed a strong pro-arbitration stance regarding disputes arising out of international commercial contracts. This Note analyzes the Court's reasons for this stance and compares those reasons with the history and purposes of the Federal Arbitration Act and the New York Convention. The author concludes that the Court's reasons are at odds with the FAA and the New York Convention. The Note further articulates the dangers posed to U.S. public policies that are created by allowing arbitration of statutory claims. The …

Reflections On The Economic Future Of Hong Kong, Ted Hagelin

Vanderbilt Journal of Transnational Law

This Article assesses the economic future of Hong Kong after reunification with China. After reviewing Hong Kong's economic history, this Article discusses Hong Kong's present economic situation, and both the positive and negative influences on its economic future. The author identifies China's self-interest in Hong Kong's continued economic prosperity as a positive factor for Hong Kong's economy. China's self-interest stems largely from the recognition that Hong Kong's economic failure will impact China's politics, economics, and foreign relations. Negative developments within China, however, could lead to a precipitous downturn in Hong Kong's economy. Negative developments include potential military and political crises, …

Jurisdictional Quagmire: The Implications Of K-Mart Corp. V Cartier, Giovanna M. Cinelli

Syracuse Journal of International Law and Commerce

The scope of this article extends solely to reviewing the pressing question of proper jurisdiction as between the CIT and the district courts regarding issues of international trade.

The Trade And Tariff Act Of 1984: From The Customs Treatment Of Manhole Covers To The Return Of Goods From Outer Space, N. David Palmeter

Syracuse Journal of International Law and Commerce

The Trade and Tariff Act of 1984 (TTA) began life as a Miscellaneous Tariff Bill, but became the vehicle to which other, more significant, trade measures were attached.

The Impact Of Security Concerns Upon International Economic Law, David D. Knoll

Syracuse Journal of International Law and Commerce

Having raised the question of whether differently structured economies can both gain from trade and retain a sense of national security, this paper seeks to analyze the progress of international economic law in regulating the interface between trade and defense policies.

Special Project -- Legal Issues Arising From The Mexican Economic Crisis, Robert L. Morgan -- Special Projects Editor, J. Robert Paulson, Jr., Fred A. Frost, Terrence L. Dugan, Cynthia L. Wells, G. Wilson Horde, Iii, Judith B. Anderson

Vanderbilt Journal of Transnational Law

The economic crisis in Mexico, which profoundly altered the financial and political course of that nation, has also had a significant impact on persons and corporations having business ties to Mexico. Foreign investors and businesses now are required to follow new Mexican rules that often differ dramatically from those previously in effect. The impact of the crisis has not been confined to changes in Mexican law. A substantial number of issues have arisen that will have significant bearing on United States and international law.

The Special Project discusses the changes in the legal environment following the crisis, with its focus …

Countertrade And Export Trading Companies: Has The United States Joined The Successful Trading Game Of Japan And Others?, Lori-Ann Ricci

Syracuse Journal of International Law and Commerce

The purpose of this article is to examine the use of countertrade and export trading companies in the United States.

Foreign Discovery And U.S. Antitrust Policy--The Conflict Resolving Mechanisms, Donald L. Flexner

Vanderbilt Journal of Transnational Law

A look back at the last thirty years of United States antitrust's foreign "voyages of discovery" among friendly nations reveals a picture too often resembling not so much an era of good feeling as a thirty years war. Following hard upon Judge Hand's famous formulation of the "effects" doctrine in Alcoa in 1946 the Antitrust Division conducted a series of investigations in which compulsory process was used to seek documents located in foreign nations. Prodded by what they viewed as U.S. antitrust authorities' impermissible overreaching, the affected countries began to enact defensive "blocking statutes." The passage by Canada's Ontario Province …

Recent Decisions, William W. Allen, Alexander A. Hassani, Peter A. Schuller

Vanderbilt Journal of Transnational Law

INCOME TAX--LIQUIDATION OF FOREIGN CORPORATIONS--SHAREHOLDERS IN A LIQUIDATING FOREIGN CORPORATION MUST INCLUDE IN THE CORPORATION'S EARNINGS AND PROFITS ACCOUNT THE AMOUNT OF RECAPTURED EXCESS DEPRECIATION REALIZED UPON THE SALE OF ITS ASSETS

William W. Allen

CUSTOMS DUTIES--ANTIDUMPING ACT OF 1921--THE SECRETARY OF THE TREASURY HAS No AUTHORITY TO TERMINATE A WITH-HOLDING OF APPRAISEMENT PRIOR TO THE PUBLICATION OF A DUMPING FINDING BASED ON A LIKELIHOOD OF INJURY DETERMINATION BY THE INTERNATIONAL TRADE COMMISSION

Alexander A. Hassani

INTERNATIONAL BANKING--BANKRUPTCY-FOREIGN BANKS NEITHER REGULATED BY NOR LICENSED To Do BUSINESS IN THE UNITED STATES MAY FILE FOR VOLUNTARY BANKRUPTCY UNDER THE NATIONAL BANKRUPTCY …

Panel Discussion: Regulation Of Natural Resource Development, Harold Russell, Frank Ruddy, Lorne S. Clark, L.F.E. Goldie

Syracuse Journal of International Law and Commerce

This panel discussion is part of the symposium: Canada and the United States: A Changing Relationship in a Changing World.

A lively discussion of trade issues, laws and treatment of investments between the United States and Canada.

An Evaluation Of The Need For Further Statutory Controls On Foreign Direct Investment In The United States, Gregory E. Andrews

Vanderbilt Journal of Transnational Law

Negative opinions about the expansion of direct foreign participation in the American economy have ranged from xenophobic fears of a foreign economic takeover of the United States to more responsible concerns for the possible need to inhibit foreign penetration of certain critical industries and raw material sectors. These fears and negative reactions have been exacerbated by a paucity of available information to verify or rebut them. A number of congressional committees, therefore, have responded by scheduling investigatory hearings on foreign direct investment, while several members of Congress recently have sponsored legislation in this area. Senator Daniel Inouye (D-Hawaii), has introduced …

Nationalism As A Factor In Legislation Restricting Foreign Investment: Extractive Industries In Mexico, Ira B. Zinman

Indiana Law Journal

No abstract provided.

A Symposium On State Trading, William W. Bishop, Jr., Edwin D. Dickinson

Vanderbilt Law Review

It is a privilege and an honor to be invited to introduce the following collection of articles on State Trading. In planning and organizing this symposium, the Vanderbilt Law Review has chosen to deal with an important factor in contemporary economic life--a factor which has widespread ramifications in both domestic and international law. The included articles cover a wide variety of subjects, and represent view-points which differ considerably. They have the common quality of clear and full presentation of information about current problems, while at the same time suggesting further lines for investigation. Each article offers much of interest and …

Commercial Treaties And International Trade Transactions In East-West Trade, Clive M. Schmitthoff

Vanderbilt Law Review

Operations of international trade law are transacted on two levels--that of public law and that of private law. This distinction is clearly drawn in the Report of the Secretary-General of the United Nations on "The Progressive Development of the Law of International Trade," a report which, it may be recalled, preceded the establishment of the United Nations Commission on International Trade Law (UNCI-TRAL) in December 1966. That report limits its ambit to the "law of international trade," which is defined as "the body of rules governing commercial relationships of a private law nature involving different countries." The report excludes from …

The Antitrust Laws In Foregin Commerce, Robert A. Nitschke

Michigan Law Review

The Sherman Act applies to trade or commerce "with foreign nations." Are there differences in the act's application to foreign trade compared with its application to domestic commerce? The Attorney General's National Committee to Study the Antitrust Laws was constituted at a time when this question was pressing for an answer.

During the 1920's and 1930's, the international cartel movement was in full Hood. American companies participated in some of these international arrangements, often in the belief that they were a necessary condition for world trade and upon the legal premise that restrictions adjunctive to patent and know-how licenses were …