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Full-Text Articles in Commercial Law
Digital Age Standard Form Contracts Under Austalian Law: "Wrap" Agreements, Exclusive Jurisdiction, And Binding Arbitration Clauses, John Adams
Washington International Law Journal
Despite the widespread use of end user agreements ("EULAs") within international e-commerce, their enforceability under Australian law has yet to be adjudicated. Legislative reform and judicial clarification of contract standards may be required for Australian courts to validate the methods of standard form contracting used in the digital age. While existing Anglo-Australian nules regarding contract formation may be adequate to enforce EULAs, the doctrine of privity presents an unnecessary and outdated barrier to the enforcement. Accordingly, the Australian legislature should abolish the doctrine of privity. In addition, Australian courts must clarify what type of notice is required for onerous contractual …
Oops! The Legal Consequences Of And Solutions To Online Pricing Errors, Benjamin Groebner
Oops! The Legal Consequences Of And Solutions To Online Pricing Errors, Benjamin Groebner
Washington Journal of Law, Technology & Arts
How can businesses conducting sales over the Internet protect themselves from the inevitability of pricing errors? Unlike the brick and mortar retailers’ ability to catch a pricing error quickly, thousands of orders can be placed with online retailers before they detect the problem. When pricing errors do occur and contracts are formed, merchants are forced to choose between absorbing the resulting financial loss as an investment in goodwill or trying to invalidate the contracts under the doctrine of unilateral mistake. To avoid binding contracts with customers at erroneous prices, online retailers should employ protective methods of contract formation that help …
Venture Capital Contracting Under The Korean Commercial Code: Adopting U.S. Techniques In South Korean Transactions, Eugene Kim
Washington International Law Journal
Because U.S. venture capital contracting techniques are well developed and highly effective, the appeal of adopting such techniques in venture capital transactions outside the United States is enormous to globally minded investors and legal practitioners. South Korea has yet to develop venture capital contracting practices as extensive as those found in the United States. In response to its burgeoning venture capital industry, however, South Korea will likely continue to adopt U.S. venture capital techniques in transactions governed by Korean corporate law. Such transactions can benefit the South Korean venture capital industry, leading to more profitable investments and financially successful companies …
Russian Draft Law On Special Economic Zones—A Step Forward, But Not Far Enough, Valentin A. Povarchuk
Russian Draft Law On Special Economic Zones—A Step Forward, But Not Far Enough, Valentin A. Povarchuk
Washington International Law Journal
The situation in the Russian Far East epitomizes the acute need for economic reform and development in Russia. The region boasts an enormous wealth of metals, oil, gas, coal, timber, and marine resources, but has long suffered from excessive dependence on the central government's administration and its accompanying historical neglect. Taking a cue from China's successful use of special economic zones as a means to encourage economic reform, some Russian policy-makers have proposed special economic zones as a means to encourage development. Russia's early laws establishing special economic zones, however, did not produce self-sustaining results due to a lack of …