Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Great Expectations: The Treatment Of Expectations In Wto And International Investment Law, Chios Carmody, Chios Carmody
Great Expectations: The Treatment Of Expectations In Wto And International Investment Law, Chios Carmody, Chios Carmody
Law Publications
A continuing issue in many areas of law is the treatment of “reasonable” or “legitimate” expectations. This contribution posits that a doctrine of expectations is vital to both the law’s stability and flexibility, functioning as a kind of ‘shock absorber’ that accommodates divergent pressures within a legal system. Expectations may arise subjectively, but what the law protects in most instances is determined objectively. This contribution goes on to examine the treatment of expectations in WTO and international investment law. Their treatment in WTO law has been to read them out as a matter of pleading in WTO dispute settlement, apart …
Obligations Versus Rights: Substantive Difference Between Wto And International Investment Law, Chios Carmody
Obligations Versus Rights: Substantive Difference Between Wto And International Investment Law, Chios Carmody
Law Publications
WTO law remains relatively uncontentious whereas international investment law elicits much more debate. This article posits that the differences in reception are attributable to deeper substantive differences about what is protected under each regime. In WTO law what is protected is the sum total of all commitments and concessions under the WTO Agreement, something that can be thought of as a “public” good. When a country injures that good, the remedy is for the country to cease the injury, a requirement that naturally places emphasis on obligation. In international investment law, by contrast, what is protected is individualized to a …