Law Commons^™

The Multimodal Electronic Transferable Transport Record (Ettr) : A Survey Of Laws And Basic Concepts, Benjamin Geva

Articles & Book Chapters

A transport document is a receipt issued by the carrier of goods upon taking possession of them under a contract for their carriage. It is a document of title when its transfer may facilitate not only the transfer of the right to claim the goods from the carrier but also the transfer of title to the goods. Particularly in relation to the carriage of goods other than by sea, and by reference to banking and commercial practices, this study surveys the current legal position of both digitization and negotiability of transport documents. This is done with a view to preparing …

Digital Euro And Ecb Powers, Seraina Neva Grünewald, Corinne Zellweger-Gutknecht, Benjamin Geva

Articles & Book Chapters

The use of cash in the euro area is declining. Accordingly, the EuropeanCentral Bank is exploring options for the design of a digital euro as a form of central bank money available to the public. This article addresses the key question of whether the Eurosystem is empowered to issue a digital euro and, if so, in what form. Based on a historical, teleological, and systematic interpretation, it argues that Article 128(1) TFEU serves as both a source of competence for the Eurosystem to issue a digital euro and a limitation to that competence. The Eurosystem’s powers are necessarily exclusive and …

Climate Change As Systemic Risk, Barnali Choudhury

Articles & Book Chapters

Hindsight tells us that COVID-19, thought by former President Trump and others to have come out of nowhere, is more aptly labelled a “gray rhino” event, one that was highly probable and preventable. Indeed, despite considerable evidence of the impending threats of pandemics, for the most part, governments failed to prepare for the pandemic, resulting in wide-scale social and economic losses.

The lessons from COVID-19, however, should remind us of the perils of ignoring gray rhino risks. Nowhere is this more apparent than with climate change, a highly probable, high impact threat that has largely been ignored to date. Despite …

The E-Banknote As A ‘Banknote’: A Monetary Law Interpreted, Benjamin Geva, Seraina Neva Grünewald, Corinne Zellweger-Gutknecht

Articles & Book Chapters

This article discusses whether electronic banknotes can properly be characterised as ‘banknotes’, their design as such and what architectural models are available for their issuance by central banks. Issues are addressed under general principles governing the interpretation of monetary laws in the context of evolving technologies and institutional arrangements. The article proposes a clear terminology to address the concepts underlying digital currencies and access to central bank money, and argues that a banknote may be ‘written’ electronically. The stance adopted in the article is critical of both account-based retail central bank digital currency and cryptocurrencies, and highlights the salient features …

Supreme Court Clarifies Risk Of Loss Due To Fraudulent Efts, Christopher Richter, Benjamin Geva, Matthew Angelus, Eli Monas

Articles & Book Chapters

The Supreme Court of Canada released a short

decision on December 10 confirming unanimously that

it is the bank’s customer who bears the risk of loss of an

amount that the bank transferred by electronic payment

order from the customer’s account to a third party as

a result of a phishing scam. The decision adopts the

reasoning of the Québec Court of Appeal and specifies

that it would not have been different if the customer’s

account had been in positive balance. In this case, the

customer’s account was in a debit position.

Title Iv: Rights And Obligations In Relation To The Provision And Use Of Payment Services (Chapter 3, Arts 78-93): Execution Of Payment Transactions, Benjamin Geva

Articles & Book Chapters

PSD2 Title IV Chapter 3, consisting of arts 78 – 93, addresses rights and obligations between the payment service user and the payment service provider in connection with the execution of payment transactions. It innovates in providing for the liability of a payment initiation service, a newly defined payment service provider.

Section 1 deals with receipt, refusal and irrevocability payment orders as well as with amounts transferred. By references to all currencies, Section 2 covers execution time and value date. Addressing liability, Section 3, contains rules allocating responsibility in cases of non-execution or defective execution.

Discussion in this book chapter …

Title I: Subject Matter, Scope And Definitions (Art. 1 - Art. 4): The Regulated Field (Object And Subject), Benjamin Geva

Articles & Book Chapters

The PSD2 regulates ‘payment services’ provided within the European Union by ‘payment service providers’ (PSPs). PSPs are identified in art 1(1). ‘Payment services’ are set out in Annex I, to which art 4(3) directs.

Title I, consisting of arts 1 to 4, provides for the subject matter, scope and definitions of the PSD2. In addition to identifying the payment institutions to which the PSD2 applies, art 1 states that the Directive establishes PSPs’ disclosure and contractual framework requirements. Art 2 both provides for and finetunes coverage by addressing currencies and exemptions. Art 3 provides for exclusions. Art 4 sets out …

The E-Banknote As A 'Banknote' : A Monetary Law Interpreted, Benjamin Geva, Seraina Neva Grünewald, Corinne Zellweger-Gutknecht

Articles & Book Chapters

The article discusses whether an electronic banknote is a ‘banknote’. The issue is dealt with as a matter of general statutory interpretation in the context of evolving technologies and institutional arrangements. The article proposes a clear terminology to address concepts underlying digital currencies and access to central bank money and argues that a banknote may be ‘written’ electronically. The article is critical of both account-based Central Bank Digital Currency (CBDC) and cryptocurrencies and highlights features of nonblockchain token-based alternatives. It sheds light on considerations affecting the selection of a design which is appropriate from both a functional and legal perspective …

Ai, Consumer Credit, And Discrimination: A Comparative Look At Canada And The United States, Stephanie Ben-Ishai, Mandy Bedford

Articles & Book Chapters

No abstract provided.