Contracts Commons^™

Can Smart Contracts Enhance Firm Efficiency In Emerging Markets?, Kevin J. Fandl

Northwestern Journal of International Law & Business

Blockchain technology has the potential to eliminate one of the most significant barriers to economic growth through private business transactions in developing countries—lack of trust. In a typical developed country, individuals and firms conduct transactions within an institutional environment that offers security through the enforcement of agreements. Transparent and effective courts, while imperfect to be sure, enable parties to feel secure in their transactions even if their level of trust in the other party is low. This security, in turn, facilitates transactions far afield from high-trust relationships (e.g., immediate relatives), generating transactions based upon economic value rather than party trust …

In Memory Of Professor James E. Bond, Janet Ainsworth

Seattle University Law Review

Janet Ainsworth, Professor of Law at Seattle University School of Law: In Memory of Professor James E. Bond.

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.

Malaysia Historical Salvors Revisited:, John P. Given

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

Venezuela Undermines Gold Miner Crystallex's Attempts To Recover On Its Icsid Award, Sam Wesson

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.

The Role Of International Rules In Blockchain-Based Cross-Border Commercial Disputes, Tonya M. Evans

Law Faculty Scholarship

[excerpt] The concept of online dispute resolution (ODR) is not new. 1 But, with the advent of Web 3.0, the distributed web that facilitates pseudonymous and cross-border transactions via blockchain's distributed ledger technology, 2 the idea of, and pressing need for, appropriate dispute resolution models for blockchain-based disputes to support this novel system of distributed consensus and trust of which blockchain proponents boast, is a primary concern in rapid development. 3 The common goal of each project is to utilize smart contracts to facilitate "superior, quicker[,] and less expensive proceedings by eliminating so many of the tedious and protracted trappings …

The Private Law Critique Of International Investment Law, Julian Arato

Articles

This Article argues that investment treaties subtly constrain how nations organize their internal systems of private law, including laws of property, contracts, corporations, and intellectual property. Problematically, the treaties do so on a one-size-fits-all basis, disregarding the wide variation in values reflected in these domestic legal institutions. Investor-state dispute settlement exacerbates this tension, further distorting national private law arrangements. This hidden aspect of the system produces inefficiency, unfairness, and distributional inequities that have eluded the regime's critics and apologists alike.

The United Nations Commission On International Trade Law (Uncitral) And The Significance Of The Singapore Convention On Mediation, Corinne Montineri

Cardozo Journal of Conflict Resolution

This paper outlines how the UNCITRAL drafting process that produced the Singapore Convention on Mediation functions within the United Nations and explains the significance of the Singapore Convention for the United Nations and for promoting cross-border trade and investment.

The Life Of Arbitration Law Has Been Experience, Not Logic: Gorsuch, Kavanaugh, And The Federal Arbitration Act, William F. Fox, Ylli Dautaj

Cardozo Journal of Conflict Resolution

Over the past 50 years, the international business community has settled on the device of international commercial arbitration to resolve the overwhelming number of disputes that arise in their commercial agreements. One reason is that many business people are suspicious of the domestic courts of many host countries and have always sought the comfort of a neutral forum. Arbitration is neutral (i.e., not tied directly to any particular domestic legal system), efficient and confidential. Much of this evolution has been triggered by events in the United States-in particular a long series of United States Supreme Court decisions that ended the …

Exhaustion In The Service Of Progress, Ofer Tur-Sinai

Cardozo Arts & Entertainment Law Journal

Under the doctrine of patent exhaustion, an authorized sale of a patented item exhausts the patentee's rights with respect to that item, leaving the purchaser and subsequent owners free to use or resell it without fear of an infringement lawsuit. In 2017, the U.S. Supreme Court issued its landmark decision in Impression Products v. Lexmark International, which strengthened the exhaustion doctrine in various significant ways. The Court held that an authorized sale of a patented item exhausts all patent rights with respect to that item, regardless of any restrictions on use or resale the patentee purports to impose. The Court …

Something Else: Specific Relief For Break Of Human Rights Terms In Supply Chain Agreements, Jonathan C. Lipson

American University Law Review

No abstract provided.

The New Social Contracts In International Supply Chains, David Snyder

American University Law Review

No abstract provided.

The New Social Contracts In International Supply Chains, David Snyder

Scholarly Articles in Law Reviews & Journals

This Article considers, from legal, practical, moral, and policy perspectives, Model Contract Clauses (MCCs) to protect the human rights of workers in international supply chains. The product of the ABA Business Law Section Working Group to Draft Human Rights Protections in International Supply Contracts, the MCCs are an effort to provide companies with carefully researched and well-drafted clauses to incorporate human rights policies into supply contracts (purchase orders, master vendor agreements, and the like). The Article discusses the impetus, goals, and strategies of the MCCs and explains the paradigm of the corporate, operational, and political landscape for which they are …

Cisg Article 79: Exemption Of Performance, And Adaptation Of Contract Through Interpretation Of Reasonableness－Full Of Sound And Fury, But Signifying Something, Yasutoshi Ishida

Pace International Law Review

Article 79 of the CISG provides that “[a] party is not liable for a failure to perform any of his obligations” if the party has encountered a certain impediment defined therein. It was once depicted as “the Convention’s least successful part of the half-century of work.” It has been thirty years since the CISG took effect. However, the interpretation of Article 79 is as old and unsuccessful as ever. For one thing, it has long been interpreted against our intuition, not to exempt a party from specific performance claims. For another, the controversy has long continued unsettled over whether a …

China's Anti-Corruption Crackdown And The Foreign Corrupt Practices Act, Daniel C.K. Chow

Texas A&M Law Review

China’s highly publicized crackdown on corruption may affect the type and number of cases in China that arise under the Foreign Corrupt Practices Act (“FCPA”), but it should not be assumed that the crackdown will necessarily lead to fewer FCPA prosecutions. Although there is some overlap of the goals of China’s corruption crackdown and the goals of the FCPA, China’s crackdown also serves important goals of the ruling Communist Party. The main goal of the current crackdown is to reinforce the Party’s power by targeting enemies and rivals of the current leadership. The crackdown is not aimed at prohibiting bribes …

International Contracts, William P. Johnson, Sabin Volciuc-Ionescu, Catalin-Sergiu Dinu, Katya Logunov, Adrián Lucio Furman, Adam Rose, Willem Den Hertog

All Faculty Scholarship

This article identifies some of the key developments for international contracts that occurred in 2017 in a variety of jurisdictions, with particular attention given to commercial relationships that arise in connection with product distribution. Specifically, in this article we cover developments concerning international sales law (the CISG), choice of law in Romania, franchising in Canada, termination of commercial agency in Argentina, a court decision on scope of commercial agency law in the UK, and the creation of a new commercial court in the Netherlands.

Palm Papers, Nicole Rothwell

Capstones

The Organized Crime and Corruption Reporting Project (OCCRP) came into possession of a secret dataset of property owners of the Palm Islands, the elite high-end artificial islands on the coast of Dubai.

With over 250 neighborhoods on Dubai’s waterfront, a group of journalists around the world has been investigating who these individuals are that can afford the posh and pricey real estate. While most fall into the uber-rich category, some also have corrupt to criminal backgrounds leading to questions such as if the Palm Islands are truly a real-estate paradise, or instead a refuge for the corrupt.

The task for …

Do We Need A Global Commercial Code?, Michael Joachim Bonell

Dickinson Law Review (2017-Present)

The International Institute for the Unification of Private Law (UNIDROIT) first launched the idea of preparing a code of inter- national trade law. In 1970, the Secretariat of UNIDROIT submitted a note to the newly established United Nations Commission on International Trade Law (UNCITRAL) in justification of such an initiative and indicated some of the salient features of the project. What was proposed was a veritable code in the continental sense. The proposed code included two parts: part one dealing with the law of obligations generally, and part two relating to specific kinds of commercial transactions. However, the “Progressive codification …

The New Era Of Doing Business With Iran: Iran’S International Commercial Transactions And Global Security, John Changiz Vafai

Pace International Law Review

On January 17, 2016, in a statement following his signing of the Joint Comprehensive Plan of Action (JCPOA) with Iran, President Obama addressed that country’s people, stating that “yours is a great civilization, with a vibrant culture that has so much to contribute to the world – in commerce, and in science and the arts.” While the former U.S. President’s evaluation of the Iranian people’s greatness is indisputable, there are questions concerning doing business with Iran which transcend conventional legal issues and commercial problems.

Given the juxtaposition of Iran’s duopolistic government structure and ideologically oriented decision-making processes, questions arise as …

International Commodity Agreements, Kenneth Klein

Georgia Journal of International & Comparative Law

No abstract provided.

The Black Hole Problem In Commercial Boilerplate, Stephen J. Choi, G. Mitu Gulati, Robert E. Scott

Faculty Scholarship

Rote use of a standard form contract term can erode its meaning, a phenomenon made worse when the process of encrustation introduces various formulations of the term. The foregoing process, when it occurs, weakens the communicative properties of boilerplate terms, leading some terms to lose much, if not all, meaning. In theory, if a clause is completely emptied of meaning through this process it can create a contractual “black hole.” The more frequent and thus potentially more pervasive problem arises when, as the term loses meaning, random variations in language appear and persist, resulting in what we term a “grey …

Reasonable Standards For Contract Interpretations Under The Cisg, Donald J. Smythe

Cardozo Journal of International and Comparative Law

The United Nations ("UN") Convention on Contracts for the International Sale of Good ("CISG") offers the promise of harmonizing international sales law and facilitating international trade and global commerce. But there is a "homeward trend bias" that may encourage domestic courts to construe the gaps in the CISG broadly and fill them with non-uniform domestic legal rules. Questions about contract interpretation under the CISG raise the same concerns about a homeward trend bias as questions about the interpretation of express CISG provisions. The CISG has express provisions governing contract interpretation but their application may not provide an unambiguous interpretation. This …

The Convention On The Uniform Law Of International Bills Of Exchange And International Promissory Notes: A Comparison To The Uniform Commercial Code, Harold S. White

Georgia Journal of International & Comparative Law

No abstract provided.

The Standard Investment Agreement: Text And Comments, Philippe Kahn

Georgia Journal of International & Comparative Law

No abstract provided.

The English East India Company And The Modern Corporation: Legacies, Lessons, And Limitations, Philip J. Stern

Seattle University Law Review

The English East India Company was first chartered in 1600, endured until the late nineteenth century, and, in a clever act of corporate resurrection, has even recently returned as a global, upmarket retail outlet selling fine foods and commemorative coins. It has also endured in the popular imagination and culture, churning out heroes and villains alike in film, television, and video games. The script writer for a forthcoming BBC miniseries, in which the East India Company stars as the prime antagonist, even noted recently that the Company was like “the CIA, the NSA, and the biggest, baddest multinational corporation on …

The Exporting Process: Some Considerations For Practitioners, Albert Caproni Iii

Georgia Journal of International & Comparative Law

No abstract provided.

Reasonable Standards For Contract Interpretations Under The Cisg, Donald J. Smythe

Faculty Scholarship

The United Nations ("UN") Convention on Contracts for the International Sale of Good ("CISG") offers the promise of harmonizing international sales law and facilitating international trade and global commerce. But there is a "homeward trend bias" that may encourage domestic courts to construe the gaps in the CISG broadly and fill them with non-uniform domestic legal rules. Questions about contract interpretation under the CISG raise the same concerns about a homeward trend bias as questions about the interpretation of express CISG provisions. The CISG has express provisions governing contract interpretation but their application may not provide an unambiguous interpretation. This …

International B2b Contracts - Freedom Unchained?, Ingeborg Schwenzer, Claudio Marti Whitebread

Penn State Journal of Law & International Affairs (2012 - Present)

No abstract provided.

Count The Limbs: Designing Robust Aggregation Clauses In Sovereign Bonds, Anna Gelpern, Ben Heller, Brad Setser

Georgetown Law Faculty Publications and Other Works

On August 29, 2014, the International Capital Market Association (ICMA) published new recommended terms for sovereign bond contracts governed by English law. One of the new terms would allow a super majority of creditors to approve a debtor’s restructuring proposal in one vote across multiple bond series. The vote could bind all bond holders, even if a series voted unanimously against restructuring, so long as enough holders in the other series voted for it. An apparently technical change, awkwardly named “single-limb aggregated collective action clauses (CACs)” promised to eliminate free-riders for the first time in the history of sovereign bond …