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Articles 1 - 7 of 7
Full-Text Articles in Social and Behavioral Sciences
The Cisg: Applicable Law And Applicable Forums, Ronald A. Brand
The Cisg: Applicable Law And Applicable Forums, Ronald A. Brand
Articles
Despite being in effect for over thirty years, a debate continues on whether the United Nations Convention on Contracts for the International Sale of Goods (CISG) has been a success. With 89 Contracting States, it clearly is widely accepted. At the same time, empirical studies show that private parties regularly opt out of its application. It has served as a model for domestic sales law, and as an important educational tool. But has it been a success? In this article I consider that question, and suggests that the scorecard is not yet complete; and that it will perhaps take significantly …
The Impossible, Highly Desired Islamic Bank, Haider Ala Hamoudi
The Impossible, Highly Desired Islamic Bank, Haider Ala Hamoudi
Articles
The purpose of this Article is to explore, and explain the stubborn persistence of, a central paradox that is endemic to the retail Islamic bank as it operates in the United States. The paradox is that retail Islamic banking in the United States is impossible, and yet it remains highly desired. It is impossible because the principles that are supposed to underlie the practice of Islamic finance deal with the trading of assets and the equitable sharing of risks, profits and losses among bank, depositor and portfolio investment. It is true that much of this can be, and is, circumvented …
Remittances From Puerto Rico: Unsuspected Transnational Locality In Times Of Crisis, Sheila I. Velez Martinez
Remittances From Puerto Rico: Unsuspected Transnational Locality In Times Of Crisis, Sheila I. Velez Martinez
Articles
This paper looks at immigrant remittances from Puerto Rico as a tool to understand how immigrant communities have faced and engaged the economic crisis. For example, from the data reviewed, it stems that immigrant remittances sent from Puerto Rico do not follow the same patterns as remittances sent from the United States and Europe inasmuch as they seem less affected by the global financial crisis and local unemployment rates. The research conducted also tends to indicate that money transfers from Puerto Rico might allow us to grasp the growing economic transnational relationships that are being maintained by varied immigrant communities …
Baghdad Booksellers, Basra Carpet Merchants, And The Law Of God And Man: Legal Pluralism And The Contemporary Muslim Experience, Haider Ala Hamoudi
Baghdad Booksellers, Basra Carpet Merchants, And The Law Of God And Man: Legal Pluralism And The Contemporary Muslim Experience, Haider Ala Hamoudi
Articles
There is a crisis in our law schools in the study of Islamic law and the law of the Muslim polities. The current approaches either focus exclusively on national codes to the derogation of other vitally important influences on the legal order, most importantly the body of norms and rules derived from Islamic foundational texts known as the shari'a, or they regard as secondary, and at times irrelevant, the actual legal order of the societies in favor of an academic construction of the theories of medieval Muslim jurists. Neither of these approaches reflects with a necessary degree of accuracy the …
Jurisprudential Schizophrenia: On Form And Function In Islamic Finance, Haider Ala Hamoudi
Jurisprudential Schizophrenia: On Form And Function In Islamic Finance, Haider Ala Hamoudi
Articles
Despite its explosive growth over the past several decades, Islamic finance continues to have trouble attracting large numbers of otherwise pious Muslims as potential investors. The underlying reason for this is that the means that the practice employs to circumvent some of the central Muslim bans relating to finance (most notably, the ban on interest) are entirely formal in their structure and are equivalent to conventional structures both legally and economically. However, the practice purports to serve functional ends; namely, through offering Muslims alternative means of finance that are intended to further Islamic ideals of fairness and social justice. This …
Documentary Credit Law And Practice In The Global Information Age, Jacqueline D. Lipton
Documentary Credit Law And Practice In The Global Information Age, Jacqueline D. Lipton
Articles
Documentary letters of credit have historically been an important and popular method of payment in international trading transactions. In fact, they have been described as the "life-blood of international commerce." A number of uniform international practices have developed for their use, many of which are codified in international rules such as the UCP 500. However, in the global information age, as the nature of international commerce changes, so too must the operation of such payment mechanisms. With the increase in electronic trading, the "documentary" nature of these credits may require some revision. This paper examines ways in which the law …
Exchange Loss Damages And The Uniform Foreign-Money Claims Act: The Emperor Hasn't All His Clothes, Ronald A. Brand
Exchange Loss Damages And The Uniform Foreign-Money Claims Act: The Emperor Hasn't All His Clothes, Ronald A. Brand
Articles
In 1989, the National Conference of Commissioners on Uniform State Laws approved a new Uniform Foreign-Money Claims Act. This Act is designed to change and clarify the law regarding judgments on obligations denominated in a foreign currency. It does so by recognizing that old rules preventing judgment in a foreign currency - developed in times of a strong dollar - are inappropriate. Unfortunately, in seeking fairness for plaintiffs when the U.S. dollar is weak, the Act replaces rigid old rules with stiff new rules that fail to address the basic issue of appropriate damages for exchange rate losses. While the …