Contracts Commons^™

After Ftx: Can The Original Bitcoin Use Case Be Saved?, Mark Burge

Faculty Scholarship

Bitcoin and the other cryptocurrencies spawned by the innovation of blockchain programming have exploded in prominence, both in gains of massive market value and in dramatic market losses, the latter most notably seen in connection with the failure of the FTX cryptocurrency exchange in November 2022. After years of investment and speculation, however, something crucial has faded: the original use case for Bitcoin as a system of payment. Can cryptocurrency-as-a-payment-system be saved, or are day traders and speculators the actual cryptocurrency future? This article suggests that cryptocurrency has been hobbled by a lack of foundational commercial and consumer-protection law that …

Urgensi Perlindungan Data Pribadi Pada Sistem Elektronik Untuk Anak Di Bawah Umur Di Indonesia Serta Perbandingan Regulasi Dengan Uni Eropa (General Data Protection Regulation), Dzikrina Laili Kusumadewi, Akhmad Budi Cahyono

Lex Patrimonium

Childrens are inseparable from using technology. Using this technology also has a negative impact, which is misuse of one's personal data. This threat is quite troublesome, especially for children, in the eyes of the law, that are considered as incompetent individuals. Unfortunately, Regulation Number 27/2022 concerning Personal Data Protection does not regulate and explain in detail the protections that children can get for the security of their personal data. Therefore, this research will discuss child regulations, sanctions, and compensation in protecting personal data; child rights provisions; and the comparison. The aim is to provide an explanation of what provisions have …

Pembatalan Perjanjian Secara Sepihak Akibat Wanprestasi (Studi Putusan-Putusan Pengadilan Dan Perbandingan Di Negara-Negara Civil Law), Indi Millatul Aula, Akhmad Budi Cahyono

Lex Patrimonium

The inclusion of the override clause of Article 1266 of the Indonesian Civil Code in contract raises differences in interpretation and views by legal experts. Basically, there is no explanation regarding this matter in the Indonesian Civil Code, so the main issues discussed in this research are the opinions of legal experts in Indonesia regarding the unilateral termination of contract due to default, and comparing it with the arrangements in Civil Law Countries. This research is a normative juridical research with data collected through library research. This article explains that there are different views among legal experts regarding whether or …

Pertanggungjawaban Hukum Pengumpulan Data Biometrik Melalui Artificial Intelligence Tanpa Persetujuan Pemilik Data (Studi Kasus Clearview Ai Inc. Di Yunani Dan Inggris), Miyuki Fattah Rizki, Abdul Salam

Lex Patrimonium

Usement of Artificial Intelligence (AI) along with biometric data can pose a threat to the personal data protection, especially when there’s a data gathering without the consent of Data Owner. Therefore, this thesis will analyze (1) the biometric data protection in Indonesia, (2) AI legal standing based on Indonesia, Greece, and the United Kingdom legal systems, also (3) the legal liability of gathering biometric data through AI without consent of the Data Owner in Indonesia. This thesis is conducted through a normative juridical method with multiple approaches. The conclusion of the research is (1) provisions of biometric data protection can …

Perlindungan Hukum Bagi Pembeli Terhadap Gugatan Pembatalan Jual Beli Tanah Oleh Para Ahli Waris Penjual, M Waldi Ali Soraya, Lauditta Humaira ,S.H.,M.Kn.

Lex Patrimonium

In the implementation of the Sale and Purchase Binding Agreement Deed, a dispute may occur. For example, if the land being sold is an inheritance. For example, one of the sellers does not approve of the sale and purchase, or the land is sold by someone who is not an heir. Of course the buyer will be disadvantaged. The aim of the research is to find out the legal provisions governing the unilateral cancellation of the PPJB, to explain the determination of unlawful acts and to analyze the legal protection for buyers in land sale and purchase agreements which are …

Eksekusi Objek Jaminan Fidusia Sebagai Suatu Perbuatan Melawan Hukum: Tinjauan Terhadap Putusan Pengadilan Negeri Medan Nomor 167/Pdt.G/2021/Pn Mdn Dan Putusan Pengadilan Tinggi Tanjung Karang Nomor 93/Pdt/2022/Pt Tjk, Rahmandika -, Lauditta Humaira

Lex Patrimonium

The provisions for the execution of fiduciary security objects are regulated in Law Number 42 of 1999 on Fiduciary Security which allows fiduciary obligee to unilaterally execute fiduciary security objects based on the inherent executorial title which means execution can be directly exercised without going through a court and is final and binding on the parties. The Constitutional Court through Decision Number 18/PUU-XVII/2019 changed the meaning of the executorial title so that the execution of the fiduciary security certificate must be exercised and apply the same as the execution of a court decision that has permanent legal force, unless there …

Perbandingan Rechtsverwerking Sebagai Doktrin Hukum Di Indonesia Dan Doktrin Estoppel Di Amerika Serikat Pada Bidang Hukum Perjanjian, Joseph Noviandri, Togi Marolop Pangaribuan

Lex Patrimonium

This journal discusses the scope of rechtsverwerking as a doctrine known as the ‘waiver of rights’ doctrine. rechtsverwerking refers to a situation where someone possesses a certain right but does not exercise it within a specific period, which may result in the loss of that right. This concept of waiving rights is widely recognized, As exemplified by Article 32 paragraph (2) of Government Regulation No. 24 of 1997 concerning the release of land rights, the application of the rechtsverwerking doctrine should no longer be used as the basis for releasing land rights, as legislation takes precedence over doctrines in the …

Implementasi Doktrin Penyalahgunaan Keadaan (Misbruik Van Omstandigheden) Dalam Perkara Jual Beli Dengan Surat Di Bawah Tangan (Studi Kasus: Putusan Nomor 243/Pdt.G/2020/Pn Mdn Dan Putusan Nomor 101/Pdt/2021/Pt Mdn), Bagas Febrianto, Akhmad Budi Cahyono

Lex Patrimonium

Undue influence (misbruik van omstandigheden) is one of the reasons for the invalidity of an agreement due to a defective will known in Indonesian civil law based on doctrine and jurisprudence. This undue influence is a form of legal protection for weak parties because of the imbalanced position of the parties to the agreement both economically and psychologically. In the case of a sale and purchase agreement, often the parties disagree on the subject matter of the agreement, namely the goods and prices. Moreover, the sale and purchase agreement with privately made letters is certainly very prone to …

Penolakan Kpr Sebagai Syarat Tangguh Pembatalan Ppjb (Studi Kasus: Putusan Nomor 1138/Pdt.G/2020/Pn Sby), Alfin Permana Lutfi, Lauditta Humaira

Lex Patrimonium

This thesis analyzes Decision Number 1138/Pdt.G/2020/PN. Sby regarding the problem of refusing mortgages which resulted in binding agreements in buying and selling houses. The problems to be examined are the legal provisions regarding mortgage approval as a tough condition in the house sale and purchase agreement and the enforceability of PPJB cancellation and exoneration clauses in the construction of civil law in Indonesia with regard to the case in decision number 1138/Pdt.G/2020/PN.Sby. As for the legal provisions regarding KPR approval as a tough condition for PPJB cancellation, they are not clearly regulated in Indonesian laws and regulations. The house sale …

Perlindungan Hukum Terhadap Pemegang Perjanjian Pengikatan Jual Beli Atas Tanah Dimana Sertifikat Tanah Berada Dalam Penguasaan Bank (Studi Putusan Nomor 751 Pk/Pdt/2019), Ahmad Raihan Imani Setiawan, Abdul Salam

Lex Patrimonium

The dynamic and evolving nature of the law, which also gives rise to complexities in societal issues, requires legal certainty, especially concerning the legal protection for parties involved in a Sale and Purchase Agreement (PPJB). The purpose of this paper is to understand the legal position of the buyer based on a PPJB for land and buildings concerning the land that has been used as collateral by the seller to a bank. Additionally, it aims to determine whether the judge’s considerations were appropriate in providing legal protection to the buyer based on the PPJB, as per the verdict Number 751 …

Tanggung Gugat Orang Tua Atas Perbuatan Melawan Hukum Yang Dilakukan Oleh Anak Di Bawah Umur Menurut Kuh Perdata (Studi Perbandingan Dengan Belanda Dan Hukum Perdata Manitoba, British Columbia, Dan Ontario), Clarinta A.P. Lukman, Abdul Salam

Lex Patrimonium

Liability is not limited to acts committed by oneself, but also acts committed by others as regulated in Article 1367 paragraph (2) of the Civil Code or also known as vicarious liability or substitute responsibility. Unlawful acts can basically be committed by anyone, including minors. Therefore, in this research, the author is interested in discussing the liability of parents for unlawful acts committed by minors and its comparison with the Netherlands and Canada, which specifically includes the provinces of Manitoba, British Columbia and Ontario. This discussion is intended to look at the differences and similarities regarding the size of a …

Expecting Specific Performance, Tess Wilkinson-Ryan, David Hoffman, Emily Campbell

Articles

Using a series of surveys and experiments, we find that ordinary people think that courts will give them exactly what they bargained for after breach of contract; in other words, specific performance is the expected contractual remedy. This expectation is widespread even for the diverse array of deals where the legal remedy is traditionally limited to money damages. But for a significant fraction of people, the focus on equity seems to be a naïve belief that is open to updating. In the studies reported here, individuals were less likely to anticipate specific performance when they were briefly introduced to the …

Navigating Unfair Contract Terms: Drawing Insights From Australia In Addressing The Legal Conundrum In Malaysia, Ibtisam@Ilyana Ilias, Norazlina Abdul Aziz, Hariz Sufi Zahari, Helza Nova Lita

International Journal on Consumer Law and Practice

In Malaysia, the regulation of unfair contract terms within business-to-consumer contracts falls under the jurisdiction of Part IIIA of the Consumer Protection Act 1999. This regulatory framework is overseen by the Ministry of Domestic Trade and Living Cost. However, the effectiveness of Part IIIA is hindered by certain gaps, resulting in its infrequent utilization for determining unfair terms in consumer contracts. One of the primary challenges lies in interpreting key terms such as “harsh,” “oppressive,” “unconscionable,” and “adequate justification.” These ambiguities often remain unresolved until legal proceedings take place. Complicating matters, doubts persist regarding the applicability of the Consumer Protection …

Dark Patterns In A Bright World : An Analysis Of The Indian Consumer Legal Architecture, Sandeep Sharma J., Ishita Sharma Dr.

International Journal on Consumer Law and Practice

Dark patterns’ are consumer targeted marketing strategies that capitalize on cognitive biases of consumers’ propelling them to make decisions, contrary to their intended preferences. The term dark patterns coined by user designer Harry Bignull has gained traction recently, due to its correlation with psychological responses that are produced through nudges that are unaligned to the consumers’ original preference. The consumer responses elicited through the use of such dubious nudges have a direct correlation with the way human brain functions. These covert strategies employed by digital marketing platforms capitalize through behavioral science, aimed at their economic growth compromising the consumers’ free, …

Defeating The Empire Of Forms, David Hoffman

Articles

For generations, contract scholars have waged a faint-hearted campaign against form contracts. It’s widely believed that adhesive forms are unread and chock full of terms that courts will not, or should not, enforce. Most think that the market for contract terms is broken, for both employees and consumer adherents. And yet forms are so embedded in our economy that it’s hard to imagine modern commercial life without them. Scholars thus push calibrated, careful solutions that walk a deeply rutted path. Notwithstanding hundreds of proposals calling for their retrenchment, the empire of forms has continued to advance into new areas of …

An Idealist’S Approach For Smart Contract Correctness, Duy Tai Nguyen, Hong Long Pham, Jun Sun, Quang Loc Le

Research Collection School Of Computing and Information Systems

In this work, we experiment an idealistic approach for smart contract correctness verification and enforcement, based on the assumption that developers are either desired or required to provide a correctness specification due to the importance of smart contracts and the fact that they are immutable after deployment. We design a static verification system with a specification language which supports fully compositional verification (with the help of function specifications, contract invariants, loop invariants and call invariants). Our approach has been implemented in a tool named iContract which automatically proves the correctness of a smart contract statically or checks the unverified part …

Formalism In Contract Exposition, Gregory Klass

Georgetown Law Faculty Publications and Other Works

Formalism in contract law has had many defenders and many critics. What lawmakers need, however, is an account of when formalist approaches work and when they do not. This article addresses that need by providing general theory of the rules of contract interpretation and construction and identifying several ways those rules can be more or less formalist. The theory draws from legal philosophy, the philosophy of language, economic contracts scholarship, and caselaw.

The result is a distinction between two forms of formalism in contract law. Formalities effect legal change by virtue of their form alone, thereby obviating interpretation. Examples from …

Convergence By Design: Who Contracts And The Plural Purposes Of Contract Law, Gregory Klass

Georgetown Law Faculty Publications and Other Works

A theory is robustly pluralist if it maintains that law is justified by multiple independent nonordered principles. Some have argued that robustly pluralist theories are deficient because they can provide no practical guidance when those principles conflict. The objection is misplaced when applied to pluralist theories of contract law.

This article demonstrates the possibility of a robustly pluralist and practically relevant theory of contract law by modeling a multipurpose law of contract. Five simple models are constructed to illustrate several purposes a contract law might serve, depending on preferences of the populace (self-interested utility maximizers, a preference for sharing, a …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

Integrating Doctrine And Diversity Speaker Series: How Does Diversity, Equity, Inclusion And Belonging Pedagogy Fit In Business Issues And Financial Affairs Classes? Leading With Deib In Wills, Trusts, Estates, Insurance, Contracts, And Taxation Law Classes, Roger Williams University School Of Law

School of Law Conferences, Lectures & Events

No abstract provided.

Enforceability Of Exculpatory Clauses In Missouri, Samantha Cusumano

Law Student Works

Today, a vast majority of contracts signed by consumers contain provisions that release one or both of the parties from liability if personal injury occurs during the course of the contract. These provisions are referred to as liability waivers, exculpatory clauses, limitations of liability, or liability releases, and these terms are often used interchangeably within this pathfinder and in legal research relating to this topic. The effect of these provisions is that the signing party waives their right to file future claims against the other party in the event of injury or loss and relieves the drafting party of any …

Exit Engineering, Rachel Landy

Articles

How do business lawyers create value? For nearly forty years, scholars have conceptualized the business lawyer as a “transaction cost engineer” who helps contracting parties efficiently break negotiation stalemates to create more valuable deals. This theory provides meaningful insights about sophisticated corporate law practice, where outside lawyers parachute in to make one-off deals happen. However, it fails to explain the behavior of startup lawyers, who develop long-term relationships with their clients and counsel them on seemingly routine matters, well before a major transaction materializes. These lawyers are not just transaction cost engineers, they are exit engineers.This Article offers a novel …

Twenty Years After Krieger V Law Society Of Alberta: Law Society Discipline Of Crown Prosecutors And Government Lawyers, Andrew Flavelle Martin

Articles, Book Chapters, & Popular Press

Krieger v. Law Society of Alberta held that provincial and territorial law societies have disciplinary jurisdiction over Crown prosecutors for conduct outside of prosecutorial discretion. The reasoning in Krieger would also apply to government lawyers. The apparent consensus is that law societies rarely exercise that jurisdiction. But in those rare instances, what conduct do Canadian law societies discipline Crown prosecutors and government lawyers for? In this article, I canvass reported disciplinary decisions to demonstrate that, while law societies sometimes discipline Crown prosecutors for violations unique to those lawyers, they often do so for violations applicable to all lawyers — particularly …

Expert Insights On Best Practices For Community Benefits Agreements, Matthew Eisenson, Romany M. Webb

Sabin Center for Climate Change Law

This report outlines 35 recommendations for developers and host communities when negotiating and drafting Community Benefits Agreements (CBAs) for direct air capture hubs and other clean energy projects. These recommendations come from interviews with attorneys and other experts who have collectively negotiated dozens of CBAs for climate infrastructure and other types of projects.

An Introduction To Personal Growth Bets: Using Contract Law To Lose Weight And Quit Smoking, Max Raskin, Jack Millman

Notre Dame Journal on Emerging Technologies

Self-improvement is hard. Whether losing weight or quitting smoking, individuals have a difficult time honoring their commitments, especially if the only person they are disappointing is themselves. In this Article, we introduce a new legal mechanism for incentivizing personal growth. We describe this mechanism as a personal growth contract, which allows an individual to make an enforceable agreement with either a counterparty or himself with the aim of self-improvement. We propose the use of smart contracts to help execute unilateral personal growth contracts. Our conclusion is that personal growth contracts should be presumptively legal, provided they do not violate some …

A Non-Contractual Approach To Smart Contracts, Florian Gamper

Research Collection Yong Pung How School Of Law

This article adds to the debate on what, legally speaking, smart contracts are and what they should be. Currently, much of this debate focuses on the relationship between smart contracts and legal contracts, overlooking that other legal categories may also be appropriate. This article suggests that the concept of abandonment can be fruitfully applied to smart contracts. Using the concept of abandonment has the advantage of allowing smart contracts, as close as legally possible, to be utilized as machines (or using the terminology suggested by Vitalik Buterin, founder of Etherium, as a ‘persistent script’). It would also make other issues, …

Modular Bankruptcy: Toward A Consumer Scheme Of Arrangement, John A. E. Pottow

Law & Economics Working Papers

The world of international bankruptcy has seen increasing use of the versatile scheme of arrangement, a form of corporate reorganization available under English law. A key feature of the scheme is its modularity, whereby a debtor can restructure only a single class of debt, such as bond indentures, without affecting other debt, such as trade. This is the opposite of chapter 11 of the U.S. Bankruptcy Code’s comprehensive reckoning of all financial stakeholders. This article considers a novel idea: could the scheme be transplanted into the consumer realm? It argues that it could and should. Substantial benefits of more individually …

Federal Data Privacy Regulation: Do Not Expect An American Gdpr, Matt Buckley

DePaul Business & Commercial Law Journal

No abstract provided.

Legal Representation And The Metaverse: The Ethics Of Practicing In Multiple Realities, Madeline Brom

DePaul Business & Commercial Law Journal

No abstract provided.

Badges Of Honor: Professional Conduct, Consumer Protection, And Accolades In Lawyer Advertising, Kiren Dosanjh Zucker, Bruce Zucker

DePaul Business & Commercial Law Journal

No abstract provided.