Commercial Law Commons^™

West Lynn Creamery And The Constitutionality Of State Tax Incentives, Walter Hellerstein

Scholarly Works

One of the more perplexing questions that has surfaced from time to time in the state tax field is how a constitutionally benign tax incentive program designed to attract industry to a state is to be distinguished from an unconstitutionally discriminatory taxing scheme that “forecloses tax-neutral decisions” and “provides a direct commercial advantage to local business.” On one hand, the U.S. Supreme Court has expressed the view that its decisions do “not prevent the States from structuring their tax systems to encourage the growth and development of intrastate commerce and industry.” On the other hand, the Court has frequently invalidated …

Liberalization Of India’S Trade And Investment Policies: Pitfalls And Advantages For U.S. Firms Doing Business In India, Sanjiv Verma

LLM Theses and Essays

A rich history of trade and commerce ties America to India. This paper examines the contemporary trade issues between America and India, particularly in light of recent economic reforms in India. It inquires into and analyzes the various advantages India can provide for US businesses as a foreign investment destination. Various barriers to trade between these two nations are identified, such as tariff and nontariff barriers, quota restrictions, and infrastructural and social barriers. This paper gives a brief overview of some of the recent economic policy changes in India, suggests legislative and policy improvements required to attract more US investments …

Controlling The Franchiser's Right To Cancel The Franchise Relationship: Fairness As An Underlying Principle, Mirja Huovinen

LLM Theses and Essays

Franchises are critically important arrangements for the distribution of goods and services in the US. It has been estimated that a third of all retail sales occur through franchising. Franchising is a cooperative arrangement, in which the franchisor and the franchisee are both investors. The franchiser contributes its name, expertise, and resources. But franchisee adds its own investment, gains its own ownership and vitally interested in the success of the venture. Chapter II introduces generally the chief elements of a franchise relationship, and special problems and alternative solution concerning franchise cancellation situations. In a franchise relationship, the franchisor acts as …

Priorities In Accounts: The Crazy Quilt Of Current Law And A Proposal For Reform, Dan T. Coenen

Scholarly Works

Moe Promisee has a right under a contract to receive monetary payments from Mae Promisor. Moe assigns his right first to Faye and then to Clay. Whom must Mae pay, Faye or Clay? For more than a century, judges have struggled with successive assignments to different persons of the same contract right. These cases which typically involve rights to monetary payments called "accounts" have generated subtleties of doctrine and disagreements among courts. Today, as a general rule, the Uniform Commercial Code controls these cases. Ambiguities, however, lurk in the code. Cryptic common-law doctrines also continue to govern many successive-assignment problems. …

Bill Of Lading Under Charter Parties, Mammen G. Kannanthanam

LLM Theses and Essays

This LL.M. thesis examines the legal relationship between bills of lading and charterparties under United States maritime law.   It begins with an overview of the history of maritime law and common legal documents governing maritime transportation, then traces the development of admiralty jurisprudence from early commercial codes through modern federal statutes, including the Harter Act, the Pomerene Act, and the Carriage of Goods by Sea Act (COGSA).   The work analyzes which document controls contracts of affreightment when the bill of lading is held by the charterer, a sub-charterer, a shipper other than the charterer, or a third-party consignee, and examines …

Contemporary Issues In Purchase Money Security Interests - Applications To Israeli Law?, Eyal S. Price

LLM Theses and Essays

This LL.M. thesis provides a comparative analysis of purchase money security interests under United States and Israeli law, tracing the doctrine's development in both America (from nineteenth-century American case law through its codification in Article 9 of the Uniform Commercial Code) and Israel (from its first recognition in Bank Leumi Ltd. v. Anglo-Palestine Bank through its adoption into section 169(d) of the Israeli Companies Ordinance in 1989). The work examines the historical emergence of purchase money priority, analyzes the economic rationales underlying the doctrine, and addresses key legal requirements including the "enabling" and "use in fact" requirements along with the …

Untangling The Market-Participant Exemption To The Dormant Commerce Clause, Dan T. Coenen

Scholarly Works

There is no theme more familiar to constitutional law than the clash between federal power and state autonomy. The history of that struggle reveals, by and large, a long losing battle by the states. Over the years, the Supreme Court has recognized far-reaching congressional powers, rebuffed efforts to rein them in through use of the tenth amendment, and saddled the states with every significant restraint imposed by the Bill of Rights. From time to time, however, the currents of constitutional doctrine run in favor of local control. In recent years, for example, the Court has stemmed the tide toward constitutionalizing …

Equal Protection Run Amok? An Analysis Of The Nebraska Supreme Court's Decision In The Northern Natural Gas Case, Walter Hellerstein

Scholarly Works

In Northern Natural Gas Co. v. State Board of Equalization and Assessment, the Nebraska Supreme Court held that the state could not constitutionally tax the personal property of one taxpayer while exempting the personal property of other taxpayers. Specifically, the court held that pipelines were entitled to an exemption of their personal property because the personal property of railroads and car-lines had been exempted from taxation pursuant to the provisions of the Railroad revitalization and Regulatory Reform Act of 1976 (the 4-R Act), which requires that the railroad and car-line property be taxed in the same way as other commercial …

Choice Of Law Issues In International Sale Of Goods Contracts, Bayu Seto Hardjowahono

LLM Theses and Essays

The growing quality and quantity of today’s international sales of goods activities is unquestionably influential and vital to the shaping of current national economies throughout the world.

The present work will explore the issue of choice of law questions in international sale of goods contracts by examining the approaches of the Vienna 1980 Convention, the Hague 1955 Convention and the 1985 Draft Convention. The present work concludes by showing that it is advisable for a forum to use the 2^nd Restatement approach in such a situation because of the degree of flexibility it offers in international trade practices.

Interpretation Of Contemporary Commercial Agreement A Comparative Study, Qing Cai

LLM Theses and Essays

Many disputes arising under commercial agreements turn upon the interpretation of the agreement. Interpretation is the process by which a court ascertain in meaning that it will give to the language used by the parties in determining the legal effect of an existing agreement. It also involves questions as to whether additional duties or excuses will be implied. In addition, interpretation can be relevant to contract formation since courts may be forced to determine the meaning of communication used by the parties before they determine whether the parties have reached an agreement. To some extent, how the judges interpret the …

International Franchising, Divyang K. Chhaya

LLM Theses and Essays

This LL.M. thesis analyzes the legal issues that may arise in connection with franchising operations, with particular emphasis on the international context.  The work begins by examining the concept of franchising, the economics behind it, and the principal franchise arrangements, including product franchises, processing or manufacturing franchises, systems franchises, and area franchises, before addressing the basic structures and procedures of the franchising process, such as master licenses, company-owned outlets, direct franchises, and joint ventures, as well as the mechanics of franchise promotion and the distribution of benefits between franchisors and franchisees.   The thesis then explores the legal issues underlying both …

Cable Traffic And The First Amendment Must-Carry Under A Diversity Approach And Antitrust As Possible Alternative, Bruno Vandermeulen

LLM Theses and Essays

Recent technological progress in the field of telecommunications has greatly changed the competitive structure between broadcasters, cable operators, and telephone companies. The legal and economic environment for these media participants has shifted, and new problems have arisen. One major problem is the enhanced threat of concentration of media corporations, as corporate bigness becomes desirable and the number of diversified owners of media outlets continues to decrease. This paper analyzes broadcasting regulations and subsequent case law to show the concern by the legislature and regulatory agencies to preserve diversity in opinion and media-ownership through emphasis on “localism” and a “marketplace of …

Interest Rate And Currency Swaps, Christian Droop

LLM Theses and Essays

This thesis explores the evolution, mechanics, and risks associated with interest rate and currency swaps, key financial instruments in global markets since the late 1970s. Swaps involve the exchange of predetermined payments in the same or different currencies between parties, aiming to leverage their financial capabilities and reduce transaction risks. By 1987, the volume of outstanding swap transactions exceeded $1.1 trillion, highlighting their significance in capital markets..

The thesis aims to present basic swap transactions, describe associated risks, and discuss current efforts to control these risks through regulatory and contractual measures, which focus on New York law. It also examines …

The Law Governing Arbitration Agreements In International Trade, Daniele Lingua

LLM Theses and Essays

This paper on the law applicable to arbitration agreements will start with an examination of the provisions adopted in international conventions on arbitration. The reason for this approach lies in the fact that, when national statutes contain choic of law rules specifically applicable to arbitration agreements, such rules tend to conform to those adopted by the conventions. However, problems of incompatibility between national choice of law provisions and the interpretation of international conventions may arise in the case of those countries which extend their general choice of law rules regarding contracts to rules concerning international arbitration agreements. Finally, this paper …

Fraud And Injunctive Relief In International Standby Letter Of Credit Transactions: A Comparative Study, Dirk H. Mahler

LLM Theses and Essays

This study attempts to compare the various concepts which have been developed under U.S. and German law, focusing in particular the interpretation of fraud and the prerequisites for injunctive relief. Comparative analysis of case law, statutory provisions and corresponding commentaries will illustrate that although evolved out of different legal backgrounds the results show only minor deviations, a phenomenon which might support the hypothesis that instruments developed by practitioners to serve international commercial needs tend to give birth to uniform internationalized legal treatment.

Freedom From Claims And Defenses: A Study In Judicial Activism Under The Uniform Commerical Code, Julian B. Mcdonnell

Scholarly Works

The suggestion that we might today learn something about the judicial process in such a staid area of private law may seem surprising. After all, has not the Federal Trade Commission "repealed" the holder in due course rule thus tossing negotiable instruments into the dust bin? Have not the remaining technical questions been answered by the "detail and rigid precision" of the Uniform Commercial Code so lamented by Professor Gilmore? Surely, the attentive observer of the role of the courts might conclude that there is nothing left for the judicial policy maker in the field of bills and notes. The …

The Priority Rules Of Article Nine, Dan T. Coenen, Albert J. Givray, Deborah Mclean Quinn, Paul Hilton

Scholarly Works

Priorities. The very word sends chills down the sane lawyer's spine. But if fear and loathing of Article Nine's priority scheme served as a deterrent to undertaking this enterprise, they served as an incentive as well. The complexity of the priority rules is matched only by their importance, for as long as secured financing flourishes, priority disputes over personal property are inevitable. It is the purpose of this project to set forth and explore the body of law that resolves those disputes: the priority rules of Article Nine.

Book Review: Handbook Of The Law Under The Uniform Commercial Code (1972), I. Boyce Covington

Scholarly Works

Book review of HANDBOOK OF THE LAW UNDER THE UNIFORM COMMERCIAL CODE, by James J. White and Robert S. Summers (St. Paul, Minn.: West, 1972).

The Proper Law Of Business Torts, Georg H. Kutschelis

LLM Theses and Essays

This paper's purpose is to define as clearly as possible the law that best fits business torts which bring into play two or more systems of law. The definition of "tort" being another field in which scholarly activity has not led to a consensus, and the qualification of "business tort" considerably adding to the vagueness of the subject, it is sufficient here to state that the thrust of this analysis is on choice-of-law problems. But in order to test the resulting rule or method cases will be selected both from the frequent tort cases arising out of accidents and from …

Determining The Law Governing Performance In International Commercial Arbitration: A Comparative Study, Gabriel M. Wilner

Scholarly Works

Persons entering into commercial agreements of a transnational nature have often shown a preference for the arbitration tribunal rather than the court of law as the instrument for settling disputes which may arise between them.

The parties, who may be either individuals or legal persons, such as corporations, manifest their desire to employ arbitration by providing for its use in the arbitration clause of the contract. It is generally agreed that such a clause, whether or not it is considered as part of the main contract, is consensual in nature. But the significance of the agreement to arbitrate is determined …