Commercial Law Commons^™

Delaware Law For Non-Corporate Entities: A Commentary, Peter Molk

UF Law Faculty Publications

Robert Rhee’s Article, The Irrelevance of Delaware Corporate Law, poses provocative questions about why Delaware dominates the market for corporate law given the apparent irrelevance of state incorporation choice for companies’ market valuations. He shows, first, that publicly traded companies incorporated in Delaware have similar valuations to companies incorporated in other states over time, and second, that market actors do not exhibit a preference to reincorporate existing firms in Delaware.

Rhee analyzes exclusively the realm of publicly traded corporations, which is understandable given that his analysis is necessarily limited to publicly available data. Publicly traded corporations are undeniably economically …

Developments In The Laws Affecting Electronic Payments And Financial Services, Sarah Jane Hughes, Stephen T. Middlebrook, Tom Kierner

Articles by Maurer Faculty

The past year proved to be a busy period for the regulation of electronic payments and financial services. In this year’s survey, we discuss rulemakings, enforcement actions, and other litigation that has significantly impacted the law governing payments and financial services. Part II addresses the ongoing fight between federal and state authorities over which should properly regulate Fin- Tech entities and describes some new steps the Office of the Comptroller of the Currency (“OCC”) has taken to assert its authority in this area. Part III details an enforcement action that California regulators took against a FinTech company they determined had …

How El Salvador Has Changed U.S. Law By A Bit: The Consequences For The Ucc Of Bitcoin Becoming Legal Tender, Brian Mccall

Faculty Articles

On June 8, 2021, the Congress of El Salvador passed a law that changed American commercial law.How could a foreign country change U.S. law? El Salvador’s Congress voted to confer “legal tender” status upon the cryptocurrency Bitcoin.The law took effect in El Salvador on September 7, 2021;starting that day, Bitcoin could be used to pay taxes4 and buy goods and services in El Salvador. As the first country to adopt Bitcoin as legal tender, El Salvador made world history and sparked many debates and predictions about the effects its decision may have on the Central American nation and its economy.Beyond …

Implied Warranties V. Express Specifications Under The Uniform Commercial Code, David S. Coale, Michael P. Lynn

Oklahoma Law Review

No abstract provided.

How El Salvador Has Changed U.S. Law By A Bit: The Consequences For The Ucc Of Bitcoin Becoming Legal Tender, Brian M. Mccall

Oklahoma Law Review

No abstract provided.

The Educated Retail Investor: A Response To "Regulating Democratized Investing", Sergio Alberto Gramitto Ricci, Christina M. Sautter

Faculty Works

The diffusion of mobile-first investing apps, like Robinhood, has increased retail investor participation in financial markets, particularly from the Millennial and GenZ generations, and has increased the diversity of retail investors. However, mobile-first investing apps are not free from controversy. In Regulating Democratized Investing, Abraham Cable tackles the debate on regulating mobile-first investing apps and largely opposes paternalistic regulation, which would raise unsurmountable barriers at the entrance of the stock market for retail investors. But it concedes to a form of regulation that in Cable’s own words “serves ultra-retail investors a modest portion of what they really want.” We strongly …

The Wireless Investors Movement, Sergio Alberto Gramitto Ricci, Christina M. Sautter

Faculty Works

The inaugural guest academic article for the University of Chicago Business Law Review Blog discusses how Millennial and GenZ investors can set in motion a social movement with disruptive effects on the current corporate governance paradigm. It refers to Millennial and GenZ investors as “wireless investors” and their social movement as the “Wireless Investors Movement.” The Wireless Investors Movement, fueled by wireless investors’ vision of the world and technology savviness, will bring corporations to pursue social and environmental causes. This short contribution analyzes the characteristics of the Wireless Investors Movement and the effects it will have on corporate governance.

Dynamic Corporate Purpose: Decentralizing The Choice Over Director Orientation, Fields Pierce

Vanderbilt Law Review

The debate over corporate purpose has turned into a “gordian knot” where parties with entrenched beliefs about what the corporation should or should not be within society refuse to waver. There are inherent flaws with the governance models proposed by academics, politicians, and practitioners alike, so a novel method for setting and maintaining corporate purpose is required. This Note asks why there must be a one-size-fits-all approach to purpose and proposes a solution: dynamic corporate purpose.

This Note argues that states should not mandate all corporations hold the same corporate purpose but instead should use the logic of the public …

The Negotiable Transport Document, Benjamin Geva

All Papers

With the emergence of a long-distance land-based trade, along with the expansion of a non-sea based multimodal trade, a demand arose for a negotiable transport document which is not limited to marine transport. A series of international conventions responded to such demand by providing for new types of negotiable transport documents. However, these conventions failed to accord to such documents the features of a document of title and to clarify their negotiable character. The task of overcoming this obstacle is hindered by the fragmentary nature of the law governing the marine bill of lading, which is the classic transport document …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents

No Oral Modification Clauses: Autonomy, Certainty Or Presumption?, Kwan Ho Lau

Research Collection Yong Pung How School Of Law

By a judgment of Lord Sumption with which a majority of the court agreed, the Supreme Court in MWB Business Exchange Centres Ltd. v Rock Advertising Ltd. [2018] UKSC 24, [2019] A.C. 119 ruled that a contractual term which prescribed that the contract was not amendable save in writing signed by or on behalf of the parties (a No Oral Modification or “NOM” clause) was effective to invalidate subsequent oral variations to the contract. Lord Burrows later suggested extrajudicially (in P.S. Davies and M. Raczynska (eds.), Contents of Commercial Contracts (London 2020), 49) that Rock Advertising might not find traction …

Contracting For Process, David Snyder

Scholarly Articles in Law Reviews & Journals

This article introduces the concept of contracting for process and considers when it is likely to be the best contract design. Contracting for process is in widespread use, but it often goes unnoticed. Some characteristics of contracting for process suit it particularly well to situations of uncertainty, including the radical uncertainty that results from fundamental disruptions such as COVID-19. Parties can employ this design for both contracts made or renegotiated during a crisis and for contracts made in ordinary times. The concept articulated here, however, is not confined to contexts of uncertainty or complexity; it can be used to achieve …

10 Things Judges Should Know About Cryptocurrency, Lee Reiners

Faculty Scholarship

No abstract provided.

#Fintok And Financial Regulation, Nikita Aggarwal, D. Bondy Valdovinos Kaye, Christopher K. Odinet

Faculty Scholarship

Social media platforms are becoming an increasingly important site for consumer finance. This phenomenon is referred to as “FinTok,” a reference to the “#fintok” hashtag that identifies financial content on TikTok, a popular social media platform. This Essay examines the new methodological possibilities for consumer financial regulation due to FinTok. It argues that FinTok content offers a novel and valuable source of data for identifying emerging fintech trends and associated consumer risks. As such, financial regulators should use FinTok content analysis—and social media content analysis more broadly—as an additional method for the supervision and regulation of consumer financial markets. The …

Empirical Analysis Of National Court Enforcement Of International Commercial Arbitration Awards, Roger P. Alford, Crina Baltag, Matthew E.K. Hall, Monique Sasson

Journal Articles

The empirical research in this article relies on a data set including all national court decisions on recognition, enforcement and setting aside (vacatur) of international commercial arbitration awards available in the Kluwer database that were rendered from 1 January 2010 to 1 June 2020. Within the time parameters of this study, there were 504 vacatur actions and 553 offensive recognition and enforcement actions. Those decisions were rendered by national courts in 74 different jurisdictions.

The research coded every argument raised by defendants challenging the recognition and enforcement of awards based on grounds set forth in Article V of the United …

Tanggung Jawab Notaris Terhadap Pembuatan Akta Jaminan Fidusia Dalam Jumlah Yang Tidak Wajar Dengan Bantuan Sistem Milik Pt Sm, Emeralda Valerie

Indonesian Notary

Penelitian ini membahas mengenai tanggung jawab Notaris terhadap pembuatan akta jaminan fidusia dalam jumlah yang tidak wajar dengan bantuan sistem milik PT SM. Sistem membantu proses pembuatan akta jaminan fidusia dan pendaftaran dalam waktu singkat. Penggunaan sistem tidak mengindahkan syarat formal akta autentik. Penelitian ini mengangkat masalah mengenai autentisitas akta jaminan fidusia yang dibuat menggunakan bantuan sistem; tanggung jawab Notaris terhadap akta jaminan fidusia yang kehilangan autentisitasnya; dan peran Dewan Kehormatan Notaris (DKN) dalam pelanggaran atas batas kewajaran jumlah pembuatan akta. Penelitian ini menggunakan metode penelitian hukum normatif dengan studi dokumen dan wawancara. Analisis penelitian menggunakan pendekatan kualitatif. Hasil penelitian …

Peran Dan Tanggung Jawab Notaris Terhadap Akta Wasiat Yang Dibatalkan Oleh Hakim Yang Berisikan Erfstelling Atau Legaat Kepada Cucu (Studi Putusan Mahkamah Agung Nomor 295 Pk/Pdt/2020), Devka Octara Putera Akbar Girindrawardhana

Indonesian Notary

Penelitian ini terkait dengan akta wasiat umum yang dibatalkan oleh hakim dengan pertimbangan akta wasiat berbentuk wasiat fidei commis serta melanggar hak para ahli waris. Berdasarkan pada pengertian wasiat ialah surat yang berisikan kehendak yang dibuat oleh pewaris yang merupakan tindakan hukum yang ingin dilakukan apabila yang bersangkutan meninggal dunia dan dalam pembuatan akta wasiat umum ini dilakukan di hadapan seorang notaris yang mengakibatkan notaris juga dijadikan sebagai turut tergugat sebagai pihak yang membuatkan akta yang dianggap tidak sesuai dengan hukum di indoneisa. Permasalahan yang diangkat dalam penelitian ini adalah mengenai akibat batalnya akta wasiat umum yang dibatalkan oleh hakim …

Keabsahan Perjanjian Pengikatan Jual Beli Yang Objeknya Sama Dengan Perjanjian Jual Beli Dengan Hak Membeli Kembali (Studi Putusan Mahkamah Agung Republik Indonesia No. 509 K/Pdt/2020), Sem Sanjaya

Indonesian Notary

Penelitian ini membahas mengenai pengikatan jual beli di hadapan notaris, yang mana objek jual belinya sama dengan objek jual beli dalam perjanjian jual beli dengan hak membeli kembali. Jual beli dengan hak membeli kembali diakui oleh hukum perdata barat sebagaimana diatur dalam Kitab Undang-Undang Hukum Perdata, namun eksistensinya tidak dikenal dalam hukum tanah nasional yang mengadopsi hukum adat. Dalam kaitannya dengan hukum positif, hak membeli kembali tidak diperkenankan apabila dimanfaatkan sebagai upaya kreditur untuk menguasai benda jaminan milik debitur. Adapun permasalahan yang diangkat dalam tesis ini adalah bagaimana keabsahan perjanjian pengikatan jual beli sebagai suatu akta otentik apabila dalam persidangan …

Eksekusi Di Luar Pengadilan Objek Jaminan Fidusia Oleh Perusahaan Pembiayaan (Studi Putusan Pengadilan Negeri Gorontalo Nomor 60/Pdt.G/2019/Pn.Gto Dan Putusan Pengadilan Negeri Sumber Nomor 25/Pdt.G/2020/Pn.Sbr), Mashita Nagieb Kuddah

Indonesian Notary

Jurnal ini membahas mengenai pelaksanaan eksekusi objek jaminan fidusia yang dilakukan di luar pengadilan, lebih khusus setelah diputusnya Putusan Mahkamah Konstitusi Nomor 18/PUU-XVII/2019 yang diperkuat dengan Putusan Mahkamah Konstitusi Nomor Nomor 2/PUU-XIX/2021. Sebagaimana dikemukakan dalam Putusan Pengadilan Negeri Gorontalo Nomor 60/PDT.G/2019/PN.GTO dan Putusan Pengadilan Negeri Sumber Nomor 25/PDT.G/2020/PN.SBR. dimana Perusahaan Pembiayaan melaksanakan eksekusi objek jaminan fidusia di luar pengadilan melalui parate eksekusi namun pihak lain tidak menghendaki hal tersebut. Permasalahan pada penelitian ini tentang pertimbangan hakim yang berbeda terhadap kedua putusan tersebut dengan rentang waktu pelaksanaan eksekusi objek jaminan fidusia yang terbilang mirip dan terkait keabsahan pelaksanaan eksekusi objek jaminan …

Kekuatan Hukum Pembuktian Akta Perjanjian Pengikatan Jual Beli Tanah (Ppjb) Dalam Kasus Sengketa Perdata (Analisa Putusan Mahkamah Agung Nomor : 994/K/Pdt/2020 Jo Putusan Pengadilan Negeri Batam Nomor : 218/Pdt.G/2017/Pn Btm), Yuyun Sri Wahyuni

Indonesian Notary

The Sale and Purchase Agreement (PPJB) is an prilimanary agreement arrranged by potential seller and buyer based on the agreement before the transaction, formed in the private deed or notarial deeed. The main problem of this study is about the strength and validity of the Sale and Purchase Agreement (PPJB) Deed as evidence of transfer of rights, power and validity linked to the Supreme Court decision Number: 994 / K / PDT / 2020 jo Batam District Court Decision Number: 218 / PDT.G / 2017 / PN BTM. The research result explains that the Sale and Purchase Agreement (PPJB) Deed …