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Title Iv: Rights And Obligations In Relation To The Provision And Use Of Payment Services (Chapter 3, Arts 78-93): Execution Of Payment Transactions, Benjamin Geva

Articles & Book Chapters

PSD2 Title IV Chapter 3, consisting of arts 78 – 93, addresses rights and obligations between the payment service user and the payment service provider in connection with the execution of payment transactions. It innovates in providing for the liability of a payment initiation service, a newly defined payment service provider.

Section 1 deals with receipt, refusal and irrevocability payment orders as well as with amounts transferred. By references to all currencies, Section 2 covers execution time and value date. Addressing liability, Section 3, contains rules allocating responsibility in cases of non-execution or defective execution.

Discussion in this book chapter …

Corporate Stewardship, Danielle D'Onfro

Scholarship@WashULaw

Harnessing strategies both ancient and modern — hostages, surety, gatekeepers, and blame — this Article proposes a new tool for achieving more efficient corporate compliance. It begins with the premise that a handful of well-known factors, including agency costs, misaligned time-horizons, cognitive biases, and insufficiently deterrent legal regimes sometimes cause companies to ignore important public safety obligations even when those obligations are cost-effective and welfare-maximizing. The result is systemic undercompliance with certain regulatory obligations. Despite the seriousness of this problem, currently available options for motivating compliance mostly fail to make public-safety regulations sufficiently salient to the individuals who perform the …

The 5th Annual Professor Anthony J. Santoro Business Law Lecture: Enforcing Insider Trading Laws: The Changing Landscape, Stephen L. Cohen, Roger Williams University School Of Law

School of Law Conferences, Lectures & Events

No abstract provided.

Newsroom: A Changing Landscape: Insider Trading Law 09/20/2016, Roger Williams University School Of Law

Life of the Law School (1993- )

No abstract provided.

Warranties In The Box, James J. White

Articles

Thousands of times each day, a buyer opens a box that contains a new computer or other electronic device. There he finds written material including an express "Limited Warranty." Sometimes the box has come by FedEx directly from the manufacturer; other times the buyer has carried it home from a retail merchant. Despite the fact that it is standard practice for the manufacturer to include a limited written express warranty on the sale of such products,' and despite the fact that both the manufacturer and the buyer believe that warranty to be legally enforceable, the law on its enforceability is …

Liability Issues Facing Online Businesses, David E. Shipley

Scholarly Works

Online businesses are confronted by a wide variety of liability issues covering almost the full range of the standard law school curriculum. The liability problems that face a small business in Vidalia, Georgia, which is selling Vidalia onion products at specialty stores, through print advertising, and by mail, do not go away when the business starts marketing through a Web site. In fact, there might be more exposure doing business online, and there are variations depending upon the nature of the business in question. For example, as discussed below, an Internet Service Provider ("ISP") like America Online has worries that …

Freeing The Tortious Soul Of Express Warranty Law, James J. White

Articles

I suspect that most American lawyers and law students regard express warranty as neither more nor less than a term in a contract, a term that is subject to conventional contract rules on formation, interpretation, and remedy. Assume, for example, that a buyer sends a purchase order to a seller and the purchase order specifies the delivery of 300 tons of "prime Thomas cold rolled steel." The acknowledgment also describes the goods to be sold as "prime Thomas cold rolled steel." Every American lawyer would agree that there is a contract to deliver such steel and furthermore would conclude that …

Form Contracts Under Revised Article 2 (Symposium: Consumer Protection And The Uniform Commercial Code), James J. White

Articles

The current draft of section 2-206 in Revised Article 2 of the Uniform Commercial Code ("UCC") entitled "Consumer Contract: Standard Form"1 presents a unique and threatening challenge to the drafters of consumer form contracts. In earlier drafts, one part of the section applied to both to commercial contracts and consumer contracts. It required that "one manifest assent" to any form contract, commercial or consumer, in order for it to be binding.2 Bowing to commercial opposition in the most recent version, the drafters have omitted all reference to commercial contracts. As the section stands, it applies only to consumer contracts.

Critical Rules In Negotiating Sales Contracts: The Lawyer's Job, James J. White

Other Publications

In my experience, lawyers begin negotiating only after the business people have decided upon the description and quality of the product, the time of delivery, and the mode and amount of payment. The lawyers are left with the pathological problems--who gets what in case of trouble. Most of those problems relate to the seller's responsibility if the product does not conform to the contract or otherwise fails to please the buyer. These failures can cause economic loss to the buyer, economic loss to a remote purchaser, or personal injury or property damage to immediate or remote parties. Third parties may …

Arkansas's Revised Article 3: User Caution Advised!!, Sarah Howard Jenkins

Faculty Scholarship

No abstract provided.

The Decline Of The Contract Market Damage Model, James J. White

Articles

In law school every American lawyer learns that the conventional measure of damages for breach of a sales contract is the difference between the contract price and the market price. Even before these rules were embodied in the Uniform Sales Act and the Uniform Commercial Code (UCC), they were a staple of Anglo-American common law. They remain the rules with which a court would determine damage liability not only for the sale of goods, but also for the sale of real estate and securities.

Checks Lost In The Collection Process, James J. White

Other Publications

Given the millions of checks that are transferred among banks every year, the opportunity for loss and misplacement of such checks is enormous and the liabilities associated with such loss can be significant. This section deals with the collecting bank's liability for the check's loss before it is delivered to payer bank. If the payer bank receives and then loses the check, it will be subject to a different set of liabilities; those liabilities will be discussed elsewhere in the program.

Impact Of The Commercial Code On Liability Of Parties To Negotiable Instruments In Michigan ,, Roy L. Steinheimer, Jr.

Legal Scholarship by Dean Steinheimer

No abstract provided.

Trade Competition - Effect Of Motive, Herbert F. Goodrich

Articles

Does the motive with which one enters into what is ostensibly trade competition with a business rival have any significance in the law? Motive is used, following Judge Smith's careful limitation of the term, to signify the feeling which makes the actor desire to obtain the result aimed at. A conclusion that motive is immaterial in this connection can be sustained by formal logic. A man has a "right" to engage in business, even though his rival be injured thereby. One may exercise a legal right, regardless of his motives in doing so. Therefore, business competition, if the methods be …

Sales: Liability For The Presence Of Mice And Other Uncommon Things In Food, John B. Waite

Articles

A group of recent decisions presents a somewhat farcical conformity with Montesquieu's thesis that "law" may vary with time and geography. It strikingly illustrates, also, the importance of the particular theory of liability upon which a suit is predicated. The unusual similarity in detail of the operative facts of these cases lends peculiar emphasis to the difference in the judgments rendered.

Limitation As To The Amount Of Liability For Loss Of Goods By Carriers, Edwin C. Goddard

Articles

A carload of automobiles was shipped by express, under an express receipt limiting recovery to $50, unless a greater value was named and a greater carrying charge paid. The shipper knew of this stipulation, and deliberately chose the restricted liability so as to secure the lower rate. On a suit for loss of the automobiles, recovery was limited to $50. Geo. N. Pierce Co. v. Wells Fargo & Co., 189 Fed. 561, commented on in 10 MICH. L. REB. 317. The United States Supreme Court has just affirmed this decision, 35 Sup. Ct. 351.

The Liability Of The Common Carrier As Determined By The Recent Decisions Of The United States Supreme Court, Edwin C. Goddard

Articles

An understanding of the present day liability of the common carrier under conditions as they exist, especially in interstate shipments, is best reached by an historical journey from the early decisions of the Supreme Court of the United States to the end of the year just past.

The Effect Of The Carmack Amendment To The Hepburn Act Upon Limitation By Common Carriers Of The Amount Of Their Liability, Edwin C. Goddard

Articles

Two cases, decided by the Supreme Court of the United States on March 1O, 1913, may be considered together. They are developments of the cases reviewed in 11 MICH. L. Rev. 460. Plaintiff shipped two boxes and a barrel of "household goods" under an agreement that the goods, in case of loss, should be valued at $5 per hundred-weight. One box, weighing not over 200 pounds and actually worth $75, was lost. The Supreme Court of Arkansas affirmed a judgment against the carrier for the full value. 91 Ark. 97, 121 S. W. 932, 134 A. S. R. 56. On …