Commercial Law Commons^™

Ai Mistakes: "Confabulation" And Abduction, Not "Hallucination", Stephen M. Mcjohn, Ian Mcjohn

Suffolk University Law School Faculty Works

"Hallucination" has become the common term for errors by AI systems, yet it implies a misleading analogy to human perception. LLM's process tokens. They do not have conscious experience or conscious perception. A hallucination is an experience, and (to our knowledge, to date) LLM's do not experience anything. This paper suggests that legal scholars follow the lead of a small number of AI researchers who have suggested that "confabulation" is a more accurate term, a metaphor grounded in psychology. People confabulate when they unknowingly invent spurious explanations or facts. We then take this terminological question and stretch it into a …

Clawing Back Fraudulent Profits—Investor Protection Or Regulatory Overreach: The Disgorgement Dilemma In Securities Law, Jessica Sun

The Journal of Business, Entrepreneurship & the Law

This comment explores the legal complexities surrounding the Securities and Exchange Commission’s (SEC) use of disgorgement as an enforcement tool, specifically addressing the tension between investor protection and regulatory overreach. Sun examines the evolution of disgorgement from a court-created equitable remedy to a power formally codified by the National Defense Authorization Act of 2021, while highlighting the significant limitations imposed by Supreme Court rulings in Kokesh v. SEC and Liu v. SEC. The comment centers on a current circuit split between the Second Circuit’s decision in SEC v. Govil—which requires a showing of "pecuniary harm" to victims before awarding disgorgement—and …

It's The Night Of The Living Deepfakes: The Threat Of Deepfakes On The Film Industry, Neki Shero

DePaul Business & Commercial Law Journal

No abstract provided.

Front Matter

DePaul Business & Commercial Law Journal

No abstract provided.

The Role Of Ai In Judicial Translation: Ensuring Access To Justice In Vernacular Languages, With Special Reference To Marathi, Bhushan Raut

Indian Journal of Law and Technology

This paper examines the role of artificial intelligence in judicial translation to enhance access to justice in India’s multilingual legal system, with a specific focus on Marathi. It situates judicial translation within the constitutional framework and Rule of Law theory, arguing that linguistic accessibility is essential to legal agency and fairness. Through doctrinal, empirical, and comparative analysis, the paper evaluates initiatives such as SUVAS, highlights gaps in vernacular availability of landmark judgements, and identifies challenges relating to accuracy, accountability, and legal semantics. It proposes a hybrid AI–human model and policy reforms to ensure reliable, scalable, and inclusive translation practices in …

Indigenous Māori Defend Digital Sovereignty Over Big Tech’S Free Trade Rules, Jane Kelsey

Indian Journal of Law and Technology

In 2016, Indigenous Māori in Aotearoa New Zealand challenged the Trans-Pacific Partnership Agreement (‘TPPA’) for breaching the colonial government (Crown) obligations to them under the 1840 Tiriti o Waitangi. This was lodged before a Tribunal particularly established to inquire into such breaches. In 2021, the Tribunal upheld that claim, finding that the TPPA e-commerce provisions failed to protect Māori identity and Indigenous knowledge. Since then, the Crown and Māori have sought means to reconcile these competing paradigms within the unequal power relations of a colonial government and Indigenous Peoples – denied the sovereignty affirmed to them in 1840. This case …

The Illusory Normativity Of Rights-Based Ai Regulation, Yiyang Mei, Matthew Sag

Indian Journal of Law and Technology

Whether and how to regulate AI is now a central question of governance. Across academic, policy, and international legal circles, the European Union is widely treated as the normative leader in this space. Its regulatory framework, anchored in the General Data Protection Regulation, the Digital Services and Markets Acts, and the AI Act, is often portrayed as a principled model grounded in fundamental rights. This Article challenges that assumption. We argue that the rights-based narrative surrounding EU AI regulation mischaracterises the logic of its institutional design. While rights language pervades EU legal instruments, its function is managerial, not foundational. These …

عملة إيفاء الديون مع ملاحظات حول تحديد سعر صرف العملة: دراسة مقارنة, أنطوان طعمة

Proche-Orient, Études juridiques

This study tries to clear up the ambiguity that deals with the interpretation of legal articles related to repayment. It includes an attempt to interpret the text of article 301 of the Law of Obligations and Contracts. It also deals with the text of the second paragraph of that article, which mentions the phrase “normal time” during which the parties have the right to stipulate the payment in a foreign currency or metal. The study also deals with an explanation of the concepts of compulsory circulation and legal circulation of currency, and the impact of these concepts on the interpretation …

إيفاء الديون المحررة بالعملة الأجنبية في العقود الداخلية, نجيب الحاج شاهين

Proche-Orient, Études juridiques

The issue of the payment of debts denominated in a foreign currency arises in two types of contracts: international contracts and domestic contracts. In international contracts, this issue is easily resolved by Lebanese Courts who have consistently ruled that the debtor must repay the debt arising from an international contract in the foreign currency that is stipulated in that contract. On the other hand, this raises three problems that have led to conflicting court decisions in domestic contracts. These issues are the following: the validity of contractual provisions requiring that payment be made in a foreign currency; whether the debtor …

ثوابت وتساؤلات فإمكانية حلول فيما خص إيفاء الديون المحررة بالعملة الأجنبية في ظل الأزمة المالية, ݒول الحاج شاهين

Proche-Orient, Études juridiques

The seminar entitled “Repayment of Debts Denominated in Foreign Currency Amid the Financial Crisis” addresses the severe financial turmoil Lebanon has been experiencing since the end of 2019, marked above all by the sharp depreciation of the Lebanese pound. This collapse created profound difficulties in repaying debts denominated in foreign currency, and in some cases made repayment impossible. The issue is closely tied to Lebanon’s reliance on foreign currencies, particularly the U.S. dollar. Anticipating such risks, many Lebanese citizens had safeguarded their savings by depositing them in banks in foreign currency, as protection against the recurring devaluation of the national …

Les Banques Libanaises Sont-Elles En État De Cessation De Payement ?, Antoine Fares Eid

Proche-Orient, Études juridiques

To the question : “Are the Lebanese banks in cessation of payment ?”, the answer is obviously yes according to both the special definition of the cessation of payment of banks in the Intra law no. 2/1967, and the general definition of the “cessation of payment” in the Code of commerce (article 489). The legal scrutiny so confirms the common “feeling” of obvious bankruptcy of the banks for almost three years. In parallel, are refuted the exceptions opposed by the banks, such as the alleged payment by cheques which are actually “cheques sans provision”, or “ …

La Levée Du Secret Bancaire Au Liban, Karim Daher

Proche-Orient, Études juridiques

The Banking Secrecy Law, adopted in Lebanon in 1956, formally prohibited banks and their personnel from disclosing any information relating to their clientele to any public or private party. The purpose of enacting this law was to attract financial inflows to Lebanon in the 1950s and 1960s, a period that coincided with the oil boom in Gulf countries, and nationalization processes in neighboring Arab countries, especially Egypt and Syria, as well as later from wealthy Gulf oil monarchies. While this legislation ensured the protection and confidentiality of these deposits, it weakened tax citizenship, promoted a culture of corruption and impunity, …

عقد الايجار التجاري في زمن الوباء: النزاعات والعوامل المؤثرة في الاحكام, ميساء نصر

Proche-Orient, Études juridiques

The courts of Dubai faced many disputes resulting from the pandemic and its repercussions, and the Dubai Rental Dispute Settlement Center played a key role in ruling on requests to terminate commercial lease contracts or reduce rent. This study aims at inferring the factors that have affected the decisions of the Center’s committees, reaching the following conclusions. On the one hand, the main factor to determine whether a specific damage was caused by the epidemic or not is the extent to which the commercial activity is connected to customers. On the other hand, the committees have issued diverse decisions with …

في صفة المساهم، في قانون الشركات التجاريّة الإماراتي، بأن يرفع منفرداً دعوى الشركة بالمسؤوليّة المدنيّة ضد أعضاء مجلس إدارة الشركة المساهمة من الصياغة الملتبسة للمادة ١٦٦ سنة ٢٠١٥ الى إشكاليات تعديلات ٢٠٢٠, أنطوان فارس عيد

Proche-Orient, Études juridiques

This study dealt, initially in 2018, with a long-running controversial issue in doctrine and case law, namely the determining criterion in civil liability of board members in a joint-stock company allowing to differentiate between the company’s claim that the shareholder can exercise alone (known as ut singuli claim) and the shareholder’s claim to request compensation for his "individual" damage. The new 2015 UAE law for commercial companies has confused, in the wording used in Article 166, between the damage suffered by the company and the "individual" damage suffered by the shareholder. This confusion has been corrected in the amending Law …

La Réforme Du Code De Commerce Libanais : Impact Sur Le Fonctionnement Des Sociétés Anonymes, Patrick Soumrani

Proche-Orient, Études juridiques

Except for specific limited amendments, the Lebanese corporate law has remained unchanged for many years. Several drafts aiming to reform and modernize such law have been prepared since the 1990s. But it is only in 2019 that a new draft has been voted hastily by the parliament, and has entered into effect on the 1st of July 2019. The reform brings numerous advantages: it facilitates the functioning of limited liability companies and joint stock companies, introduces the single partner limited liability company, provides for specific provisions governing the GDRs, as well as companies’ mergers and splits, and sanctions penalty the …

Resolving Bankruptcy's Non-Voting Impaired Class Issue Using The Nonfactor Solution, Jacob Harrington

Texas A&M Law Review

In chapter 11 bankruptcy voting procedures, the issue of non-voting impaired classes can be a complicated issue, but the Southern District of Texas’s new “nonfactor” approach can be used as a lens through which different solutions to this issue may be understood. The United States Bankruptcy Code states that a bankruptcy plan may only be confirmed if every impaired class votes to accept the plan. But despite the statute’s apparent clarity, different jurisdictions’ solutions vary, some deeming non-voting impaired classes to plan. This Note demystifies the Bankruptcy Code’s approach to this matter, examines the different jurisdictional approaches to this issue, …

Disproportionate Influence: Rethinking Control In American Corporate Governance, Dhruv Aggarwal, Ofer Eldar

Northwestern University Law Review

Corporate law has undergone a gradual transformation. Founding chief executive officers (“founder-CEOs”) and activist hedge funds increasingly dominate leading American corporations despite owning well short of a majority of shares. Founder-CEOs, through personal brands or dual-class voting structures, control firms despite having minority stakes; activist hedge funds, with single-digit holdings, press for major governance changes. We argue that these two types of shareholders, often treated as opposites, both dominate corporations through disproportionate influence rather than majority ownership. We describe these investors who dictate corporate policy through disproportionate influence as high-influence shareholders.

Delaware’s doctrinal response to high-influence shareholders has been inconsistent, …

Combatting Ai-Generated Child Sexual Exploitation And Abuse Material: An Analysis Of India’S Techno-Legal Response, Dhruv Garg, Dedipyaman Shukla

Indian Journal of Law and Technology

The emergence of generative artificial intelligence (“AI”) presents a significant threat to child safety online, enabling the rapid creation and dissemination of child sexual exploitation and abuse material (“CSEAM”) at an unprecedented scale. This paper examines legal, institutional, and technical responses to AI-generated CSEAM in the Indian context, with a particular focus on the role of digital intermediaries, law enforcement coordination through the Sahyog Portal, and judicial interpretation under Indian law. Drawing on this analysis of key stakeholders, the paper argues for the orientation of India’s CSEAM framework towards proactive detection, and better integration between intermediaries and law enforcement. The …

Parallel Proceedings Between International Commercial Litigation And Arbitration: Existing Tools And Comparative Perspective, Joanna Ma

Northwestern Journal of International Law & Business

This Article examines parallel proceedings in international commercial disputes, focusing on situations in which the same parties and substantially the same issues are simultaneously before a national court and an arbitral tribunal. It surveys the principal tools that jurisdictions have developed to address this problem, including the priority-in-time rule, the prioritization of arbitral tribunals, tolerance of parallel proceedings, anti-suit injunctions, and anti-arbitration injunctions. After evaluating the strengths and weaknesses of each approach, the Article argues that prioritizing arbitral tribunals provides the most coherent and workable framework for managing such conflicts. In particular, the model of granting full priority to arbitral …

The Corporate Transparency Act: Substantial Modifications Are Desperately Needed (And They Might Just Help The Law Withstand Judicial Scrutiny), Lawrence Bialek

Michigan Business & Entrepreneurial Law Review

For decades, the United States has had a reputation as the place to go for bad actors looking to launder money and fund criminal activities. Attempting to rectify this situation, Congress spent years drafting legislation to serve as a deterrent. The product, the Corporate Transparency Act (CTA), was the culmination of years of work by legislators across the aisle and multiple Congresses. The CTA’s mandatory reporting requirement sought to create a centralized database of information about all entities doing business in the United States, both foreign and domestic, and the individuals in positions of authority for each of those entities. …