Commercial Law Commons^™

Comparative Corporate Governance: Irish, American, And European Responses To Corporate Scandals, Manish Gupta

ExpressO

A comparative review of legislative reactions to corporate scandals such as Enron and WorldCom. This paper examines American, Irish, and European Union legislation meant to deal with regulating corporations.

Promotion Of International Commercial Arbitration And Other Alternative Dispute Resolution Techniques In Ten Southern Mediterranean Countries, Giuseppe De Palo, Linda Costabile

Cardozo Journal of Conflict Resolution

As the strategic economic partner of the Southern Mediterranean (MEDA) region, the European Union (EU) seeks to promote effective mechanisms of development through increased industrial cooperation in order to create a Euro-Mediterranean area of shared prosperity. The first Euro-Mediterranean Conference of Ministries of Industry, held in June of 1996 in Brussels, listed among its priority objectives 1) the formation of a fair judicial and administrative framework for investment; and 2) the establishment and support of Small and Medium Enterprises (SMEs) through the development of regional networks. However, recent reports on world trade and investment describe the MEDA region as an …

How To Deal With Multi-Party Nominations Of Arbitrators In International Commercial Arbitration - A Comparative Study Of Appointment Procedures With Emphasis On U.S.-European Commerce Between Private Entities, Marie-Beatrix Tupy

LLM Theses and Essays

The nomination procedure for the Arbitral Tribunal in commercial arbitration is one of the crucial points in the arbitral procedure. Parties have to have in mind the provisions of the New York Convention regarding the setting aside of an award in case of a failure during the nomination procedure of the tribunal. Besides from the famous Dutco case on multi-party arbitrations and their nomination procedures have received highest interest within the international arbitral world. As the thesis will comparatively show, all major arbitral institutions have updated their Rules, countries have even rendered new legislation with respect to the nomination procedure …

Extending Predation Analysis To Monopolist's Bundled Discounts Under Section 2: An Economic, Legal, And Comparative Perspective, Seth B. Chertok

ExpressO

In LePage’s v. 3M, the Third Circuit decided the first case at the federal appellate court level that dealt with the subject of bundled discounts by a monopolist under Section 2 of the Sherman Act in the period following the U.S. Supreme Court’s decision in Brooke Group Ltd. v. Brown & Williamson Tobacco Corporation. Prior to the decision in Brooke Group, the Third Circuit had only once before addressed this topic in Smithkline Corp. v. Eli Lilly and Company. Smithkline is only significant because it nearly suggested that any bundled discount, regardless of whether above or below cost, was anti-competitive. …

“The (Cisg) Road Less Travelled”: Case Comment On Grecon Dimter Inc. V. J.R. Normand Inc., Antonin I. Pribetic

ExpressO

At first glance, the Supreme Court of Canada's recent decision in GreCon Dimter Inc. v. J.R. Normand Inc. appears to be a case upholding the primacy of international commercial arbitration, choice of forum and choice of law clauses. Upon closer scrutiny, however, the Supreme Court of Canada failed to consider the application of the UN Convention on Contracts for the International Sale of Goods (CISG) to the overall dispute. Interestingly, the same choice of forum and choice of law clauses were considered by the United States Court of Appeals a year earlier in GreCon Dimter, Incorporated v. Horner Flooring Company, …

Tracing, Peter B. Oh

ExpressO

Tracing is a method that appears within multiple fields of law. Distinct conceptions of tracing, however, have arisen independently within securities and remedial law. In the securities context plaintiffs must “trace” their securities to a specific offering to pursue certain relief under the Securities Act of 1933. In the remedial context victims who “trace” their misappropriated value into a wrongdoer’s hands can claim any derivative value, even if it has appreciated.

This article is the first to compare and then cross-apply tracing within these two contexts. Specifically, this article argues that securities law should adopt a version of the “rules-based …

Taking The Stand: The Lessons Of The Three Men Who Took The Japanese American Internment To Court, Lorraine K. Bannai

Seattle Journal for Social Justice

No abstract provided.

Better Than Cash? Global Proliferation Of Debit And Prepaid Cards And Consumer Protection Policy, Arnold S. Rosenberg

ExpressO

A global deluge of debit cards and prepaid cards – payment cards that do not require consumers to qualify for credit – is rapidly making electronic payment systems accessible to much of the world’s population that previously paid in cash for goods and services. The global proliferation of payment cards is fraught with both risk and promise for consumers.

The billions of people of low to moderate incomes who are being hurled from a cash economy into the era of electronic payments in emerging economies by the proliferation of debit and prepaid cards are particularly vulnerable to abuses by banks …

Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor

ExpressO

No abstract provided.

Unlawful Dividends, Unjust Enrichment, And The Defence Of Change Of Position, Cecil Duncan Macrae

Research Collection Yong Pung How School Of Law

Economic analysis is applied to determining the effect of the change of position defense on the question of whether an innocent shareholder receiving an unlawful, mistaken dividend should be liable under English restitution law as the result of unjust enrichment. The analysis builds on and extends previous economics analysis of mistaken money transfers under restitution law. The conclusion of the analysis of the change of position defense is that unjust enrichment liability with the defense should not be extended to unlawful, mistaken dividends, even if the factors for unjust enrichment are present.

Harmonizing Business Laws In Africa: Ohada Calls The Tune, Claire M. Dickerson

ExpressO

OHADA (in English, “Organization for Harmonization in Africa of Business Laws”) is a system of business laws and implementing institutions. Sixteen West African nations adopted this regime in order to increase their attractiveness to foreign investment. Because most of the member-states are former French colonies, the OHADA laws are based on the French legal system. Despite certain economists’ recent, well-publicized assertions that any French-based legal system is incompatible with development, other studies challenge those claims and in doing so outline characteristics that a pro-development system of business laws should possess. A review of selected provisions from OHADA’s corporate law and …

A Question Of Justice: The Wto, Africa, And Countermeasures For Breaches Of International Trade, 38 J. Marshall L. Rev. 1153 (2005), Nsongurua J. Udombana

UIC Law Review

No abstract provided.

The Importation Of Sexism: A Cost-Benefit Approach To The U.S.-South Korea Friendship, Commerce And Navigation Treaty, Jennifer D. Fease

Vanderbilt Journal of Transnational Law

The U.S.-South Korea Friendship, Commerce and Navigation Treaty was entered into by the signatory countries following World War II and governs the actions of corporations operating in a foreign country. One provision of the Treaty allows foreign corporations in the United States to choose executives "of their choice," arguably without regard to the statutory protections that the United States affords in the hiring process. In this Note, the Author contends that the U.S.-South Korea Friendship, Commerce and Navigation Treaty results in discrimination against women in the United States because South Korean employers tend to choose South Korean men to fill …

Evaluating Work: Enforcing Occupational Safety And Health Standards In The United States, Canada And Sweden, Daniel B. Klaff

ExpressO

The United States’ occupational safety and health enforcement system is breaking down. Klaff argues that much of this breakdown has to do with a fundamental lack of worker participation in the United States’ safety and health system. Klaff makes his case by comparing and contrasting the history and enforcement schemes of the United States, Canada, and Sweden. After arguing for economic rights as human rights, Klaff concludes by offering a set of recommendations for the United States’ occupational safety and health system based upon his value-centered analysis.

Digital Age Standard Form Contracts Under Austalian Law: "Wrap" Agreements, Exclusive Jurisdiction, And Binding Arbitration Clauses, John Adams

Washington International Law Journal

Despite the widespread use of end user agreements ("EULAs") within international e-commerce, their enforceability under Australian law has yet to be adjudicated. Legislative reform and judicial clarification of contract standards may be required for Australian courts to validate the methods of standard form contracting used in the digital age. While existing Anglo-Australian nules regarding contract formation may be adequate to enforce EULAs, the doctrine of privity presents an unnecessary and outdated barrier to the enforcement. Accordingly, the Australian legislature should abolish the doctrine of privity. In addition, Australian courts must clarify what type of notice is required for onerous contractual …

The Rise Of The Code Of Conduct In Japan: Legal Analysis And Prospect, Koji Ishikawa

ExpressO

A code of conduct is a set of rules adopted by transnational corporations (“TNCs”) to regulate mainly working conditions and the management of contract factories. TNCs adopted codes of conduct to cope with the rising criticisms from the public in late 1980s and 1990s about unfair labor practices in contract factories in Third World countries. As the globalization of the economy progressed, like American TNCs, Japanese TNCs also transferred their production bases to developing countries like China, Vietnam, Malaysia and Indonesia in search of low wage labor. The development of a code of conduct in Japan is, however, quite different …

Russian Draft Law On Special Economic Zones—A Step Forward, But Not Far Enough, Valentin A. Povarchuk

Washington International Law Journal

The situation in the Russian Far East epitomizes the acute need for economic reform and development in Russia. The region boasts an enormous wealth of metals, oil, gas, coal, timber, and marine resources, but has long suffered from excessive dependence on the central government's administration and its accompanying historical neglect. Taking a cue from China's successful use of special economic zones as a means to encourage economic reform, some Russian policy-makers have proposed special economic zones as a means to encourage development. Russia's early laws establishing special economic zones, however, did not produce self-sustaining results due to a lack of …

Venture Capital Contracting Under The Korean Commercial Code: Adopting U.S. Techniques In South Korean Transactions, Eugene Kim

Washington International Law Journal

Because U.S. venture capital contracting techniques are well developed and highly effective, the appeal of adopting such techniques in venture capital transactions outside the United States is enormous to globally minded investors and legal practitioners. South Korea has yet to develop venture capital contracting practices as extensive as those found in the United States. In response to its burgeoning venture capital industry, however, South Korea will likely continue to adopt U.S. venture capital techniques in transactions governed by Korean corporate law. Such transactions can benefit the South Korean venture capital industry, leading to more profitable investments and financially successful companies …

The New Iraq: Revising Iraq's Commercial Law Is A Necessity For Foreign Direct Investment And The Reconstruction Of Iraq's Decimated Economy, Judith Richards Hope, Edward N. Griffin

Cardozo Journal of International and Comparative Law

The article examines the legal reforms implemented by the Coalition Provisional Authority (CPA) in post-conflict Iraq, particularly CPA Order No. 39, which liberalizes foreign investment. These reforms are crucial for attracting foreign direct investment (FDI) to revive Iraq's economy, which has been devastated by war, sanctions, and central planning. The article highlights the importance of creating a stable legal environment, including equal treatment for foreign and domestic investors, streamlined corporate governance, and adherence to international standards. However, it also points out gaps in protections against confiscation and the need for further reforms in areas such as business immigration and tax …

Book Review: Benjamin Geva, Bank Collections And Payment Transactions, Arnold S. Rosenberg

ExpressO

The author reviews Geva, Bank Collections and Payment Transactions (Oxford University Press, 2001). The book is the first comprehensive work on the comparative law of checks and electronic funds transfers, and attempts to identify a universal "law merchant" governing checks and electronic funds transfers in these bodies of law.

The Importance Of Corporate Models, Benedict C. Sheehy

ExpressO

This article argues that the debate concerning the nature of the corporation is not finished and nor a mere intellectual exercise for interested legal academics. The current model of the corporation as an economic entity—the firm—has a number of imbedded value assumptions. Given the common territory between corporate law and economics, some scholars have come to identify the two as equal partners striving for the same ends. This is a serious error which has had and continues to have significant negative consequences for both the economic situation of the majority and justice in society. These value assumptions are being seriously …

Leaving Money On The Table: Contract Practice In A Low-Trust Environment, Ruben Kraiem

ExpressO

Social capital – the level of trust inherent in a society – will affect the contracting practices that are considered standard, practical or fair. These practices in turn will help determine the parties’ positions as they approach their negotiation, how they will communicate, and what terms they will agree in any particular transaction. This is true not only for the small transaction, but also for large and complex deals. As a result, when operating in a low-trust environment, even sophisticated parties (who can bear the costs of tailoring an agreement to their particular case), will be prone to relinquish or …

Facing The Challenge: Corruption State Capture And The Role Of Multinational Business, 37 J. Marshall L. Rev. 1181 (2004), Nikolay A. Ouzounov

UIC Law Review

No abstract provided.

Global Antitrust Enforcement: The Sherman Act Does Not Apply Without Any Direct Domestic Effect, But Discovery Assistance May Be Available To Aid A Foreign Tribunal, According To The U.S. Supreme Court, 38 J. Marshall L. Rev. 495 (2004), Sue Ann Mota

UIC Law Review

No abstract provided.

China's Wto Accession: Economic, Legal, And Political Implications, 27 B.C. Int'l & Comp. L. Rev. 319 (2004), Karen H. Cross

UIC Law Open Access Faculty Scholarship

This Article discusses the unparalleled economic, legal, and political change that has confronted China during WTO accession. The Article focuses on the relationship between China's unique WTO accession process and China's reform over the past two decades. The author suggests that WTO accession has acted as a lever for economic and legal reform by locking in reform and making it irrevocable. The Article begins with a historical background of China's long road to accession and the way that this process worked to further the previously instated economic reform program. Next, the Article analyzes the manner in which WTO accession has …

A Gradual Shift In U.S. Privacy Laws Towards A Comprehensive Regime , Kamaal R. Zaidi

ExpressO

This paper examines the current trends in a predominantly sectoral U.S. privacy regime that appears to be becoming more comprehensive in nature with respect to data privacy protection. This trend has been greatly attributed to the European Union's comprehensive position on data privacy protection. This paper investigates the growth in U.S. data privacy protection in relation to federal and state legislative history, federal administrative procedures, and private industry efforts. This shift from sectoral to comprehensive regimes is significant in the backdrop of U.S-EU trade relations.

Free Movement Of Goods: A Comparative Analysis Of The European Community Treaty And The North American Free Trade Agreement, Pedro A. Perichart

LLM Theses and Essays

The European Union is currently an economic union, which means that it has almost removed every internal barrier to trade, therefore achieving the free circulation of all factors of production (goods, services, capital, and persons) across the union. The North America Free Trade Agreement (NAFTA) establishes a free trade area, with the main purpose of eliminating tariffs among its members, and to some extent, reducing other non-tariff barriers to facilitate the cross-border movement of goods. Despite their difference, both regions seek to achieve a certain degree of free movement when trading goods within their respective e internal markets. This study …

The Economics Of Uniform Laws And Uniform Law Making, John Linarelli

Scholarly Works

Uniform law making has a substantial history in the twentieth century. It seems to be continuing with some force into the twenty-first century. A significant American law and economics literature, however, questions its merit. By contrast, there have been limited rational choice oriented investigations of unification or centralization of law in Europe. Critics of the uniform law movement in the United States use methods of analysis influenced by public choice theory, political economics and positive political theory. The paper does not call into question the methods and assumptions of these approaches. The paper claims that economic analysis supports public policy …

An International Antitrust Dilemma: An Analysis Of The Interaction Of Antitrust Laws In The United States And The European Union, 36 J. Marshall L. Rev. 271 (2002), Sandra Ferson Young

UIC Law Review

No abstract provided.

China's Direct Marketing Ban: A Case Study Of China's Response To Capital-Based Social Networks, Michele A. Wong

Washington International Law Journal

China's State Administration for Industry and Commerce issued a circular on April 18, 1998 banning all forms of multi-level direct marketing, citing concerns with social stability and economic order. While the direct marketing ban was ultimately implemented in such a way as to allow those who engaged in network marketing to transition to retail sales, alleviating some of the violence of the protest to the ban, opposition to the ban has continued both domestically and abroad. Direct marketing organizations create tight-knit, extensive networks of individuals with similar economic interests. By assembling around a common economic interest, the group may also …