Law Commons^™

Rise Of The Intercontinentalexchange And Implications Of Its Merger With Nyse Euronext, Latoya C. Brown

Latoya C. Brown, Esq.

This paper examines the impending merger between the IntercontinentalExchange (ICE) and NYSE Euronext against the backdrop of the current structure of the global financial services industry. The paper concludes that the merger embodies what the financial services industry is becoming and captures the model that will allow exchanges to remain competitive in today’s marketplace: mega-exchanges with broader asset classes and electronic platforms. As technology and globalization threaten their vitality, exchanges will need to continue reinventing and adapting. Increasingly over the last decade they have done so by merging and by moving, at least a part of, their operations on screen. …

The New Frontier Of Advanced Reproductive Technology: Reevaluating Modern Legal Parenthood, Yehezkel H. Margalit Dr., John D. Loike Dr., Orrie Levy Adv.

Hezi Margalit

Assisted reproductive technologies (ARTs) have challenged our deepest conceptions of what it means to be a parent by fragmenting traditional aspects of parenthood. The law has been slow to respond to this challenge, and numerous academic articles have proposed models for adapting parentage laws to ARTs. In the coming years, however, scientific advancements in reproductive technologies, such as somatic cell nuclear transfer and stem cell technologies, will challenge both parentage laws and proposed legal models for traditional ARTs in new and fascinating ways. For instance, these advanced technologies could allow two women to create a child without any male genetic …

The Law And Economics Of Norms, Juliet P. Kostritsky

Juliet P Kostritsky

This Article examines the increased importance of norms in the law and economics of exchange. By studying how private parties bring order despite the absence of a coercive state and the idea of a norm as the result of an exchange that originates in the brain to accommodate all competing costs, one can better understand how modern states, private agreements, public laws, and market economies work in conjunction with the norms and human behavior patterns that underlie all communities. These institutions of norms, public law, private law and agreements, the state, and markets are all alternative and complementary ways of …

Towards Determining Legal Parentage By Agreement In Israel, Yehezkel Margalit

Hezi Margalit

In Israel as in other parts of the world, families, parenthood, and relations between parents and children have changed dramatically over the past few decades. So, too, developments in modern medicine have enhanced the ability to separate sexuality from fertility and parenthood. Many researchers feel that the legal system has not kept pace with these changes, and that traditional models of familial relationships no longer provide adequate tools for dealing with them. In order to bridge the gap between a desired social status and current law, a growing number of parents seek to regulate the status, rights, and obligations of …

Determining Legal Parenthood By Agreement As A Possible Solution To The Challenges Of The New Era, Yehezkel Margalit

Hezi Margalit

Over the past decades, we witnessed changes in the matrimonial and parenting institutions. Medical innovations have further created ethical-legal dilemmas. It is, therefore, essential to create a theory and framework that will determine ways to deal with the resulting dilemma in a fully developed manner. This paper surveys the current, conflicting shifts in family structure and the definition of legal parenthood. In it, I deal with the importance and various aspects of defining legal parenthood. I will also focus on the singularity of this dilemma as it is increasingly apparent in the various fertility treatments. I present the sociological-legal roots …

Standard Contract Clauses As Public Goods: A New Approach, Enrico Baffi

enrico baffi

The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …

Standard Contract Clauses As Public Goods: A New Way To Approach The Problem, Enrico Baffi

enrico baffi

The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …

Contracting I The -Modern Woerld, Enrico Baffi

enrico baffi

In this paper I want to show that the change that we observe in the way of contracting do not depend by the market powers that firms would have obtained, but it is a phenomenon due to the change in relative costs of activities. There are activities that are labor intensive that must be abandoned in favor of activities that capital intensive, and there are activities that are time consuming that the people do not want to bea, as reading all the contract clauses of a standard form contract, that determine the necessity, probably, if there is not a state …

Mental Budget And Inefficient Clauses: A Lesson From Behavioral Law Nand Economics, Enrico Baffi

enrico baffi

This paper is an attempt to highlight how clauses, which are traditionally considered to be inefficient, may actually be desired by consumers. This anomaly originates in the fact that each individual builds a mental budget by dividing the money he has among the needs he intends to satisfy. According to consumers’ reasoning, money is not fungible, in the sense that amounts cannot be transferred from one expenditure to another. Consumers who behave in this way may sometimes find that they have depleted the amount they budgeted for an item while wanting to buy more of it. Since additional time, efforts …

Los Viajes En El Halcón Milenario Y El Rescate De La Princesa Leia Organa: Los Verdaderos Requisitos De La Imposibilidad Sobrevenida Por Causa No Imputable, Javier André Murillo Chávez

Javier André Murillo Chávez

No abstract provided.

Regulation Not Prohibition: The Comparative Case Against The Insurable Interest Doctrine, Sharo Michael Atmeh

Sharo M Atmeh

American law requires an insurable interest—a pecuniary or affective stake in the subject of an insurance policy—as a predi-cate to properly obtaining insurance. In theory, the rule prevents both wagering on individual lives and moral hazard. In practice, the doctrine is avoided by complex insurance transaction structuring to effectuate both origination and transfers of insurance by individuals without an insurable interest. This paper argues that it is time to ab-andon the insurable interest doctrine. As both the English and Aus-tralian experiences indicate, elimination of the insurable interest doctrine will have little detrimental pecuniary effect on the insurance industry, while freeing …

Terms Of Engagement: What Does All That Contract Legalese Really Mean And How Can We Better Teach It To Our Students?, Robert Aalberts, I. Scott Bogatz, Darren Prum

Darren A. Prum

Teaching the law of contracts has always been one of the most fundamental tasks that legal studies/business law professors carry out. Truly, no legally successful business transaction can be realized without a commanding knowledge of contract law. Still, most of our time in the classroom focuses on teaching the elements of a contract accompanied by illustrative appellate level cases rather than explaining and discussing what the important terms and clauses in a typical contract really mean. Knowing the important terms that appear in most contracts and how they relate to contract law can add a significant and essential dimension to …

Some Misleading Influences On The Reading Of Reinsurance Contracts: A Plea For Express Intent, Graydon S. Staring

Graydon S. Staring

Reinsurance is a business of transactions that cross national and state boundaries in great numbers and great values measured by premiums, risks and recoveries. It has very old roots as an innovative market free of control by any single nation, responsive to the intentions of parties and governed by the usages and ethical understandings of its principals inherited as part of international commercial practice. It is important that the intentions represented in its contracts be understood in whatever venue they are questioned to the same effect as they were to those who negotiated them. Although this laudable aim will occasionally …

Relational Contract Theory And Management Contracts: A Paradigm For The Application Of The Theory Of The Norms, Michael Diathesopoulos

Michael Diathesopoulos

This paper examines management contracts as a paradigm for the application of relational contracts theory and especially of the theory of contractual and relational norms. This theory, deriving from Macauley's implications, but structured and analysed by I.R. MacNeil gives us a framework for the explanation and understanding of contractual obligations and business relations' rules and practice. After presenting the key literature about the norms theory and especially defining the content of MacNeil's norms, we define management contracts as relations, characterised by a high relational element and we explain why, investigating all their features, which make them a suitable object for …

The Lingering Influence Of Richard Ii And Lord Coke In The American Admiralty, Graydon S. Staring

Graydon S. Staring

It must be fair to say that a useful commercial and legal regime should be spread as wide as its usefulness, with as few artificial and irrelevant barriers as possible. All of our irrelevant barriers have been discredited in various situations, but two of them, viz. as to contracts made on land or to be performed in part on land, remain anomalously in two irrational and inconvenient applications. As they have no statutory sanction, they can be corrected by the courts, just as they have nullified them both in other situations and rationalized the jurisdiction in other respects. Cease the …

Failed Synallagmatic Contracts : Appraisal Of The Maxim "The Party Who Has Control And Can Insure Against The Loss Should Shoulder The Risk", Aimite Jorge

Aimite Jorge

The current position in South African law on enrichment situations arising from "failed agreements" is that "if you have received a performance in terms of a contract which subsequently fails for whatever reason, you give it back if you still have it; if you cannot give it back, you are absolved, unless you were culpable in relation to the loss". Daniel Visser, however, challenges this approach and proposes a new one in his recently published book, Unjustified Enrichment (2008). This article evaluates both this position and the newly suggested approach and it argues that in cases of failed synallagmatic contracts …

Explaining Adversarial Boilerplate Language In The Battle Of The Forms: Are Consequential Damages In The U.C.C. Gap Fillers A Penalty Default Rule?, Ryan D. Griffee

Ryan D Griffee

In this article, game theory is applied to the battle of the forms and related scenarios to explain Daniel Keating’s observations, reported in the article "Exploring the Battle of the Forms in Action," 98 MICH. L. REV. 2678 (2000). The first of the two major findings in the paper is that drafters of boilerplate language should use adversarial, U.C.C. § 2-207(1) proviso-conforming language to ensure that clients receive terms that are no worse than the default U.C.C. gap fillers. This is done first by explaining how courts apply U.C.C. § 2-207 to the battle of the forms, and then applying …

Bailment Or Lease: A Legal And Economic Analysis, Wei Zhang

Wei Zhang

When customers temporarily deposit their personal properties with a business which collects a fee, either directly or by incorporating the charge into the price of its goods or services (such as a locker at the supermarket, a parking garage, or a bank safe deposit box), it has long been disputed whether a bailment or a lease contract arises between the two parties. In this paper, I tried to approach this problem from a law and economics perspective. Efficiency-oriented judges should establish rules motivating parties to take optimal precautions to minimize the social costs associated with the loss of the property. …

'Freedom Of Contract' In Halachic Family Law? – A Comparison Of The Babylonian Talmud And The Palestinian Talmud, Yehezkel Margalit

Hezi Margalit

Recently we are witness to a growing interest in nuptial agreements, both in Jewish and civil law. In civil law it is customary to trace the “meta-story” of the development of civil family law from sacrament to status and from status to contract. Indeed, during the last fifty years we have seen how nuptial agreements developed to regulate different aspects of marriage in civil law, both in Israel and in the rest of the world. During the last twenty-five years an interest has also emerged in halakhic perspectives on “freedom of contract,” which is available for couples who wish to …

Commercial Contracts In Muslim Countries Of The Middle East: A Comparison With The United States, Jacqueline Mccormack

Jacqueline McCormack

As the emerging markets of the Middle East continue to grow, the ability to trade goods internationally will help to solidify these ever increasing economic ties. This paper attempts to explain the theories and thought processes surrounding contracts for the sale of goods in Muslim countries. My purpose is to address the important similarities and differences between commercial contracts in the United States and commercial contracts in Muslim countries of the Middle East. Hopefully, by forging ever stronger trade relationships between the United States and the Middle East, these two culturally rich regions will learn to tolerate each other’s differences …

La Clausula Paramount, Salvador Francisco Ruiz Medrano

Salvador Francisco Ruiz Medrano

Paramount clause acts as a referral clause or reference to a certain set of standards, and achieved that in maritime transport, the charterer is subject to the mandatory regime of responsibilities established in the agreement to bring the clause. However, it must be noted that the grade you receive this clause may be varied, so is can be seen as the rule of autonomy of the parties, or as alleged incorporation by reference or even as a possible standard required application.

The Fax As Valid Evidence In Argentine Law, Felipe Eduardo Zabalza, Leandro Javier Caputo

Felipe Eduardo Zabalza

Under Argentine law, the facsimile transmission (fax) is not acceptable under certain circumstances. A recent decision in “Flowtex France S.R.L. v. Flowtex Servicios Urbanos S.A.”, handed down by the National Court of Appeals on Commercial Matters, Chamber A, stated that “a simple photocopy of a fax is not enough proof of the existence of a loan contract”.

As background to this matter, the Argentine court ruled in an international case regarding a loan made by a French company to an Argentine company, with particular consideration of the facsimile as valid evidence in commercial proceedings.

La Buena Fe En La Negociación De Los Contratos: Apuntes Comparatísticos Sobre El Artículo 1362 Del Código Civil Peruano Y Su Presunto Papel Como Fundamento De La Responsabilidad Precontractual (2004), Leysser L. Leon

Leysser L. León

En este artículo, se efectúa un análisis histórico y comparativo de la responsabilidad civil por daños ocasionados durante los tratos previos al contrato.

A propósito, se demuestra, con los mismos instrumentos metodológicos, por qué las cláusulas normativas generales (Generalklauseln) son inapropiadas en ordenamientos jurídicos como el peruano, y por qué son aplicables a esta hipótesis de ilícito civil las reglas de la responsabilidad aquiliana o extracontractual (artículo 1969º del Código Civil peruano).

عرض ملخــص لأطروحــة جامعيــة: الضمانــات الخاصــة بعيــوب ما بعــد الإنشــاء فــي عقــود البنــاء و الإنشــاءات: الأســاس النظــري و توزيــع المخاطــر - دراســة مقارنــة فــي القوانيــن الكويتــي، الفرنســي و الانجليــزي, Mashael Alhajeri

Mashael Alhajeri

No abstract provided.

Forgotten Equity: The Enforcement Of Forum Clauses, Graydon S. Staring

Graydon S. Staring

When courts differ widely and sharply on which of three or four procedural courses shouold be taken to enforce a contractual right of unquestioned validity, and every such course openly strains orthodox procedural doctrine, we may suslpect they are all wrong. We can confirm that they are wrong when we recognize the right in question is not a procedural incident at all but the right to a substantive performance, bargained for by the parties, that has about it an illusory appearance of procedure and, because of its substance, does not fit comfortably within merely procedural doctrine. Such is the right …