Commercial Law Commons^™

Unfair, Abusive, And Unlawful: Protecting Debtors And Society From Unrestrained Bank Account Garnishment, Kevin Green

Fordham Law Review

In the span of a generation, consumer credit has reshaped the financial lives of millions of Americans. Today, some seventy million Americans have a debt in collections, and creditors file millions of actions annually to secure repayment of these loans. Despite the rapid expansion of consumer debt, the Consumer Credit Protection Act, the only federal law limiting garnishment, has not been updated since its enactment in 1968. Moreover, courts have narrowly construed its provisions to permit creditors to empty a debtor’s bank account to repay a delinquent debt.

To afford debtors the basic protections of the Consumer Credit Protection Act, …

Regulating Global Stablecoins: A Model-Law Strategy, Steven L. Schwarcz

Vanderbilt Law Review

Digital currencies have the potential to improve the speed and efficiency of the payment system. The principal challenge is retail: to facilitate day-to-day payments among consumers as an alternative to cash, both domestically and across national borders. Two models of digital currencies are becoming viable: central bank digital currencies and nongovernment-issued currencies that are backed by assets having intrinsic value (stablecoins or, when widely used internationally, global stablecoins). Because they are not government issued, global stablecoins present complex and novel cross-border regulatory challenges, including managing the costs of complying with a multitude of national laws and ensuring international legal enforceability. …

The Obsolescence Of Blue Laws In The 21st Century, Ira P. Robbins

Scholarly Articles in Law Reviews & Journals

Depending on where in the United States one is located on any given Sunday or Christian holiday, it is against the law to buy a beer or a car, go shopping, hunt, or even play Bingo. This prohibition is a direct result of Blue Laws, alternatively called Sunday Closing Laws or Lord’s Day Acts. Blue Laws frustrate commerce and recreational activities. While at one time they might have aligned with societal values or served a practical secular purpose, such as providing workers with a day of rest, modern society renders Blue Laws obsolete and nonsensical.

Due to rapid change in …

A Proposed Sec Cyber Data Disclosure Advisory Commission, Lawrence J. Trautman, Neal Newman

Faculty Scholarship

Constant cyber threats result in: intellectual property loss; data disruption; ransomware attacks; theft of valuable company intellectual property and sensitive customer information. During March 2022, The Securities and Exchange Commission (SEC) issued a proposed rule addressing Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, which requires: 1. Current reporting about material cybersecurity incidents; 2. Periodic disclosures about a registrant’s policies and procedures to identify and manage cybersecurity risks; 3. Management’s role in implementing cybersecurity policies and procedures; 4. Board of directors’ cybersecurity expertise, if any, and its oversight of cybersecurity risk; 5. Registrants to provide updates about previously reported cybersecurity …

A Regulatory Scheme For The Dawn Of Space Tourism, Molly M. Mccue

Vanderbilt Journal of Transnational Law

Today, companies like Blue Origin and Virgin Galactic have successfully launched paying customers into space, forging the future of the space tourism industry. While a growing space tourism industry promotes scientific advancement and opens an activity once reserved for trained astronauts to the public, the industry generates new issues and reveals the vulnerabilities of international space law. This Note explores the history of commercial spaceflight and the international agreements that comprise the current legal regime. It argues that space tourism presents a need for a new international agreement to address three vulnerabilities in the current international regime: environmental protections, protections …

The Uniform Commercial Code Survey: Introduction, Jennifer S. Martin, Colin P. Marks, Wayne Barnes

Faculty Scholarship

The survey that follows highlights the most important developments of 2021 dealing with domestic and international sales of goods, personal property leases, payments, letters of credit, documents of title, investment securities, and secured transactions.

Article 9 Foreclosures: When Is A Sale Not A Sale?, David G. Carlson

Articles

Article 9 of the Uniform Commercial Code empowers a secured creditor to sell collateral. This power is circumscribed. A secured party may not sell before default. A secured party cannot self-deal in a private sale. A pledgee of securities can sell to itself in a private sale if the securities are of a kind that is customarily sold on a recognized market, but the law is unclear what formalities the pledgee must meet to memorialize the sale. A secured party may not sell in a commercially reasonable manner to a buyer with notice of the commercial unreason. This article explores …

Telaah Kritis Putusan Arbitrase Sebagai Dasar Permohonan Pailit, Syaiful Khoiri Harahap

Jurnal Hukum & Pembangunan

Against the arbitral award, the parties should be able to implement it voluntarily. If the losing party does not want to carry out its obligations by the specified deadline, then the obligation is a debt that must be paid by the debtor to the creditor. Based on article 8 paragraph 4, the proof in bankruptcy must be proven simply as a condition for bankruptcy of the debtor. The arbitration award should be the basis for the bankruptcy of the debtor. From the research results it can be concluded that bankruptcy can only occur if the debtor admits that he has …

The Creditors Guarantees In The One Person Limited Company: A Comparative Analytical Descriptive Study, Dr. Salim Salam Al-Fulaiti

مجلة جامعة الإمارات للبحوث القانونية UAEU LAW JOURNAL

In this research we address the problem of balance between the powers of the owner of the capital of a single person limited liability company in managing the company and running its affairs and his limited liability according to the amount of his money he allocated to the company, and between the rights and guarantees of creditors towards this owner, in several laws for commercial companies such as Omani, Kuwaiti, Bahraini and Emirati law. , the Saudi system and the French trade law through an analytical and comparative approach. The comparative study between the laws of the countries of the …

The Role Of Expropriation Clauses In Protection And Promotion Of Foreign Investments In Renewable Energy: An Essential But Overlooked Legal Consideration, Moosa Akefi Ghaziani, Mohammad Akefi Ghaziani

Indonesia Law Review

Today the world is tackling climate change. The global threat of energy poverty along with the growing need for energy has escalated this crisis. The promotion of renewable energy sources is widely known as the main solution to this challenge. Many International and regional agreements address various aspects of renewable energy development such as trade, transit, security, and investment. Since not all states have the financial and technological abilities to develop this sector, foreign investment is recognised as a crucial prerequisite for the global deployment of renewable energies. Various investment agreements are signed to facilitate and promote investments. These instruments …

Legal Implications Of A Ubiquitous Metaverse And A Web3 Future, Jon M. Garon

Marquette Law Review

The metaverse is understood to be an immersive virtual world serving as the locus for all forms of work, education, and entertainment experiences. Depicted in books, movies, and games, the metaverse has the potential not just to supplement real-world experiences but to substantially supplant them. This Article explores the rapid emergence and evolution of the Web3 technologies at the heart of the metaverse movement. Web3 itself is a paradigmatic shift in internet commerce.

A Billion-Dollar Mistake: Restitution And The Discharge-For-Value Rule, Layne S. Keele

Nevada Law Journal

No abstract provided.

Novation And Advance Consent, Kwan Ho Lau

Research Collection Yong Pung How School Of Law

Professor Goode once observed that “Novation need not be left to ad hoc agreement; it is open to the parties to provide for it in advance and in particular to establish a contractual mechanism by which novation takes place automatically on the occurrence of a designated act or event”. This deceptively straightforward proposition is examined in the present article. It explores the legal footing for, and the risks in adopting a pristine version of, the proposition, and considers possible safeguards that may be incorporated within the process of scrutiny, if in any case there arises concern over the effectiveness of …

The Future Of Insolvency Law In A Post-Pandemic World, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

The COVID-19 crisis has encouraged many countries to amend their insolvency laws. In most cases, these amendments took place temporarily, especially during the hibernation phase of the pandemic. In other countries, however, the pandemic has led to permanent changes in their insolvency legislation. More importantly, the COVID-19 crisis has accelerated the insolvency reforms that were already on the political agenda of many countries, and it has encouraged other jurisdictions to reassess the desirability of their insolvency and restructuring frameworks. This article analyses the current trends, reforms and policy discussions that are expected to reshape the future of insolvency law in …

Amicus Curiae Brief Of The Hon. Judith Fitzgerald (Bankruptcy Judge, Ret.), And Law Professors Pamela Foohey, George Kuney, Robert Lawless, Jonathan Lipson, Bruce A. Markell, Nancy Rapoport, Richard Squire, Ray Warner And Jack Williams, In Support Of The Petitioner, Pamela Foohey

Amicus Briefs

Your amici have taught courses on bankruptcy and commercial law, conducted research, and have been frequent speakers and lecturers at seminars and conferences throughout the United States. Each is highly regarded in this field, and each has made substantial contributions to bankruptcy scholarship and jurisprudence.

The question presented to this Court is as follows: “Whether Bankruptcy Code Section 363(m) limits the appellate court’s jurisdiction over any sale order or order deemed integral to a sale order. . . .” (emphasis added). Pet. i. The answer is that § 363(m) does not limit appellate review of the transaction involved in this …

An Analytical Study On Legal Validity Of Online Dispute Resolution (Odr) System In India And Indonesia, Dr Rahul Nikam, Bangkim Singh Nongthombam

Indonesia Law Review

Advancement in technology brought many inevitable changes with more efficiency, making human life easier. Benefit of technology shall be incorporated for effective and efficient justice delivery in dispute resolution mechanism. New development in this area is online arbitration dispute resolutions (ODR) which have been without doubt adopted and practices by justice delivery system across the globe. But the question remains the same as whether justice delivery system is equipped to cope up in the same pace with the changes taking place in the society and technology. Are the existing laws being enough to conduct online system as an effective mechanism …

Most Favoured Nation Clause: Unleashing Its Legal Potential In Favour Of Foreign Investors In Renewable Energy Sector, Mohammad Akefi Ghaziani, Vahid Akefi Ghaziani, Moosa Akefi Ghaziani Dr.

Indonesia Law Review

International Investment Law and other international legal systems, such as trade law and environmental law have interactions and dynamic interrelationships in meeting global challenges including energy security, climate change, and the need for the renewable energy transition. They help in delivering the principles of justice in the context of changing global values and legal practices. Accordingly, they have a potential share in the global climate change mitigation agenda through innovative policies and regulations, inter alia, to facilitate and promote foreign investment and trade in the renewable energy sector. Similarly, these systems have common principles in their respective agreements. The Most-Favoured …

The Feud Of Nemo Plus Iuris Ad Alium Transferre Potest Quam Ipse Habet And Nemo Dat Quad Non Habet (Nemo Dat Rule) Legal Principles Against The Legal Principle Of Good Faith (Bona Fides) In Indonesian Courts, Yonatan Yonatan, Rosa Agustina

Indonesia Law Review

Abstract

A dispute over ownership of land rights between the real Original Owner and a Good Faith Purchaser can be assumed as a dispute over legal principles in the field of civil law, namely: the legal principle of Nemo Plus Iuris Ad Alium Transferre Potest Quam Ipse Habet, and the legal principle of Nemo Dat Quad Non Habet (Nemo Dat Rule) against the legal principle of good faith (bona fides). The legal principle of Nemo Plus Iuris Ad Alium Transferre Potest Quam Ipse Habet and the legal principle of Nemo Dat Quad Non Habet (Nemo Dat Rule) are legal principles …

Kepastian Hukum Terhadap Investor Hutan Tanaman Industri Pasca Terbitnya Peraturan Pemerintah Nomor 57 Tahun 2016 Tentang Perubahan Atas Peraturan Pemerintah Nomor 71 Tahun 2014 Tentang Perlindungan Dan Pengelolaan Ekosistem Gambut, Arman Nefi, Suhardi Fonger, Andy Akbar

Technology and Economics Law Journal

One of the natural resources that become strategic assets and have economic function to support the development of national economy is forest. Investments in pulp and paper factories certainly depend heavily on the availability of raw materials from plantations that support their production capacity. Therefore, the industrial timber estate businessmen who have been given license certainly have hope that the given area can be used as much as possible. In order to preserve the peat ecosystem, the government in 2014 issued Government Regulation No. 71/2014 tentang Perlindungan dan Pengelolaan Ekosistem Gambut. Under this policy, there will be such land designated …

Penindakan Terhadap Aplikasi Pinjaman Online Ilegal Di Google Play Store, Nada Ulya Qinvi, Brian Amy Prastyo

Technology and Economics Law Journal

No abstract provided.

The Economic Impact Of Cyberattacks In The United States, Habibullah Asadi

Student Theses

In recent years, the global economy has been beset by cyber-attacks. These events disrupt business and governmental operations, large and small, and include broad-horizon attacks on infrastructure and pointed network takeovers. The attacks can include malicious online activities directed at stealing financial and intellectual property or, manipulating, destroying, and denying access to critical information. Despite increased awareness of these challenges, the victimization of private and public networks continues, and the economic impacts mount daily. This research will present the economic impact of cyberattacks on United States businesses and governmental agencies.

Book Review - Comparative Commercial Contracts: Law, Culture And Economic Development, Second Edition, Benjamin Geva

Articles & Book Chapters

Comparative Commercial Contracts: Law, Culture and Economic Development, Second Edition Boris Kozolchyk (St. Paul, Minnesota: West Academic Publishing, 2019) 1380 + liv pp. US$146

Franchising In The Form Of Partnership, Fennieka Kristianto, Fidela Gracia

Indonesian Journal of International Law

The rapid advancement of business competition nowadays encouraged business actors to enhance and strengthen their networking. One of the approaches taken by business actors was to engage themselves within the franchising business. However, within this case, several issues arose, namely relating to the expansion of the business conducted by the franchisor through a partnership by way of establishing a Limited Liability Company (“LLC”) with the franchisee, particularly, concerning the management of the business. On one hand, the franchisor is acting as the owner, founder, and holder of intellectual property rights. Supplementary to that, the franchisor is likewise the major shareholder …

Penerapan Prinsip 3r (Restructuring, Reschedulling, Reconditioning) Dalam Implementasi Peraturan Otoritas Jasa Keuangan Nomor 11/Pojk.03/2020 Tentang Stimulus Perekonomian Nasional Sebagai Kebijakan Countercyclical Dampak Penyebaran Coronavirus Disease 2019, Riana Hapsari

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Abstract

Bank is a financial intermediary institution that functions as a public funds collector and then distributes these fund to the public. In general, the distribution of funds to the public by banks in the form of lending has a risk problem, namely the risk of credit returns, causing high Non Performing Loans (NPLs) from banks. One of the factors causing the high NPL is a pandemic (force majeur) such as what happened with the Corona Virus Disease 2019 (COVID-19). The Financial Services Authority (OJK) as the banking regulator takes economic stimulus policies as a countercyclical impact of the spread …

Implementasi Aturan Perseroan Perorangan Pada Pemegang Saham Pasangan Suami Istri Tanpa Perjanjian Pisah Harta, Putra Fajar Utama

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Abstract:

Along with the very significant development of investment in Indonesia, a regulation is needed that can filter out the types of investment that are not of good quality entering to Indonesia, so that it can affect competitiveness. President Joko Widodo in his inaugural speech after being re-inaugurated as President, said that he would make an act that would revise several laws at once, this concept is called the Omnibus law. This act later became known as Undang-undang Cipta Kerja, and it is hoped that this law will change the climate for doing business in Indonesia. One of the impact …

Evolusi Kebijakan Bank Indonesia Dalam Penyelesaian Permasalahan Likuiditas Pada Bank Umum Syariah, Mustafa Aqib Bintoro

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Abstract

Indonesia is a country with a banking system that adheres to a dual banking system, where banks can be operated conventionally or shariah. As one of the authorities in the financial system, including Islamic banking, The Bank of Indonesia has the authority to carry out the functions of lenders of the last resort under Law No. 23 of 1999. In its implementation, the function of lenders of the last resort often faces legal problems because it is vulnerable to be considered a loss of state. As a result, The Bank of Indonesia's policy has often undergone changes that are …

Tinjauan Hukum Peran Direktorat Jenderal Administrasi Hukum Umum Terhadap Beneficial Owner Pada Perseroan Terbatas Dalam Tindak Pidana Pencucian Uang, Mochamad Lutfi Suryana

"Dharmasisya” Jurnal Program Magister Hukum FHUI

Abstract

Money laundering is an attempt to disguise or obscure dirty money, the perpetrator of the crime of money laundering continues to try to disguise and hide assets and financial transactions by utilizing publicly listed companies as a means of committing the crime of money laundering. The state in particular through several agencies such as the Ministry of Finance, the Directorate General of Taxes, the Ministry of Law and Human Rights, the Directorate General of General Legal Administration, the Financial Services Authority (OJK), the Financial Transaction Analysis Reporting Center (PPATK), the Corruption Eradication Commission (KPK) are increasingly encourage openness to …

Observing The Effects Of Automating The Judicial System With Behavioral Equivalenc, Joseph A. Blass

South Carolina Law Review

No abstract provided.

Mass Arbitration 2.0, Andrew B. Nissensohn

Washington and Lee Law Review

Over the past four decades, corporate interests, in concert with the Supreme Court, have surgically dismantled the American civil litigation system. Enacted nearly a century ago, the Federal Arbitration Act (FAA) was once a procedural law mandating that federal courts enforce arbitration agreements between sophisticated parties with equal bargaining power. Through death by a thousand cuts, corporate interests shielded themselves from nearly all methods of en masse dispute resolution. These interests weaponized the FAA into a “one size fits all” means to compel potential litigants with unequal bargaining power into arbitration. The so-called “Arbitration Revolution” is the subject of much …

Pertanggungjawaban Notaris Yang Menyuruh Memasukkan Keterangan Palsu Ke Dalam Akta Autentik (Studi Kasus Putusan Pengadilan Tinggi Semarang Nomor 83/Pid/2016/Pt Smg), Eka Putri Hardianti

Indonesian Notary

Penelitian ini membahas mengenai Putusan Pengadilan Tinggi Semarang Nomor 83/Pid/2016.PT SMG untuk menganalisis pertanggungjawab Notaris Ny. ER, SH,CN yang melakukan tidak pidana pemalsuan akta autentik, Notaris tersebut menyuruh memasukkan keterangan palsu dikenakan Pasal 266 ayat (1) KUHP. Serta perlindungan hukum Notaris RA, SH. M.Kn untuk kepentingan proses peradilan, dimana Notaris tersebut melakukan kelalaian dalam pembuatan akta autentik sehingga Notaris dihadirkan sebagai saksi dalam proses peradilan. Permasalahan dalam penelitian ini, yaitu yang pertama adalah pertanggungjawaban Notaris Ny. ER.SH.CN yang menyuruh memasukkan keterangan palsu dan perlindungan hukum Notaris RA, S.H. M.Kn yang melakukan kelalaian dalam pembuatan akta autentik pada putusan pengadilan yang …