Commercial Law Commons^™

Class Actions And Private Antitrust Litigation, Albert H. Choi, Kathryn E. Sprier

Law & Economics Working Papers

When firms collude and charge supra-competitive prices, consumers can bring antitrust lawsuits against the firms. When the litigation cost is low, firms accept the cost as just another cost of doing business, whereas when the cost is high, the firms lower the price to deter litigation. Class action is modeled as a mechanism that allows plaintiffs and attorneys to obtain economies of scale. We show that class actions, and the firms' incentive to block them, may or may not be socially desirable. Agency problems, settlement, fee-shifting, treble damages, public enforcement, and sustaining collusion through repeat play are also considered.

21 In The 21st—An Evaluation Of The Tobacco Regulation Trend, Casey Kellum

St. Mary's Law Journal

Tobacco regulation persists as a controversial issue both legally and politically in the United States. Throughout American history, states rely on local legislation to provide adequate protection to consumers of tobacco products, as “Big Tobacco” targets consumers for its addictive product. One of the most recent amendments in this arena is the state by state decision to raise the minimum legal sales age for tobacco to twenty-one.

Despite rigorous regulation of tobacco products in the United States, however, tobacco remains the leading cause of preventable deaths in the country. These “Tobacco 21” ordinances come at a critical time when the …

As The Role Of The Driver Changes With Autonomous Vehicle Technology, So, Too, Must The Law Change, Nanci K. Carr

St. Mary's Law Journal

Getting a driver’s license is a highly anticipated rite of passage for most teenagers. Being alone behind the wheel, in control of a 3,000-pound machine, is an honor, a privilege, and a sign of adult responsibility. How will that change when driver’s licenses become licenses “to cause technology to engage” with the increased use of autonomous cars? Will driver’s education courses, with their focus on safety rules and defensive driving techniques, be eliminated if all a vehicle operator needs to do is push a button and the vehicle does the rest? While arguably autonomous cars are safer, they will not …

Insolvency Law In Emerging Markets, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

Corporate insolvency law can serve as a powerful mechanism to promote economic growth. Ex ante, a well-functioning insolvency framework can facilitate entrepreneurship, innovation and access to finance. Ex post, corporate insolvency law can perform several functions, including the reorganization of viable companies in financial distress, the liquidation of non-viable businesses in a fair and efficient manner, and the maximization of the returns to creditors. Therefore, if having an efficient corporate insolvency framework is essential for any country, it becomes even more important for emerging economies due to their potential for growth and their greater financial needs.

Pragmatism In The Pandemic: The Protection Of Commercial Tenants In Singapore, Edward Ti

Research Collection Yong Pung How School Of Law

The COVID-19 epidemic has not spared any country, not least a densely populated country like Singapore. The government has been working tirelessly developing new policies and laws to mitigate the human and economic devastation brought on by the virus. The COVID-19 (Temporary Measures) Act 2020 (COTMA) is intended to tackle some of the negative effects brought about by COVID-19. With an initial application period of 6 months which can be amended at the Minister’s discretion, the COTMA covers a wide range of issues. Summarily, the COTMA provides for public health controls necessary to manage the health crisis, increases bankruptcy and …

Trading Through A Pandemic: The Singaporean Experience, Henry Gao, Dhiraj G. Chainani, Siu Farn Chew

Research Collection Yong Pung How School Of Law

Being a small country with one of the highest trade-to-GDP ratios in the world, Singapore faced seemingly insurmountable challenges at the onset of the Coronavirus disease 2019 (COVID-19) pandemic. As countries around the world scrambled to fight the pandemic, they imposed restrictions on exports and imports, suspended international transportation of both goods and people, and invoked emergency power and exceptions to justify their actions. All these presented unprecedented challenges to Singapore, a country which relies on international trade not only for its prosperity but also for survival. This article discusses how Singapore tries to meet these challenges through various initiatives …

Reputation Systems Bias In The Platform Workplace, E. Gary Spitko

BYU Law Review

Online reputation systems enable the providers and consumers of a product or service to rate one another and allow others to rely upon those reputation scores in deciding whether to engage with a particular provider or consumer. Reputation systems are an intrinsic feature of the platform workplace, in which a platform operator, such as Uber or TaskRabbit, intermediates between the provider of a service and the consumer of that service. Operators typically rely upon consumer ratings of providers in rewarding and penalizing providers. Thus, these reputation systems allow an operator to achieve enormous scale while maintaining quality control and user …

Cyber-Notaries From A Contemporary Legal Perspective: A Paradox In Indonesian Laws And The Marginal Compromises To Find Equilibrium, David Tan

Indonesia Law Review

Notaries in Indonesia have existed since the colonial period. Changes in technology and the continuous evolution of information bring a flow of change in all aspects of life, including the legal sector. However, the position of notaries in Indonesia has not undergone significant changes despite ongoing advancements. The promulgation of Law No. 2 of 2014 formally introduced the term “cyber notary” to Indonesian law. However, the idea of cyber notary is not practical because of legal obstacles that seem to form a legal paradox. This work analyzes the position of cyber notaries in Indonesia’s positive legal order and the challenges, …

Freedom Of Speech And The Role Of Constitutional Courts: The Cases Of Indonesia And South Korea, M. Lutfi Chakim

Indonesia Law Review

Freedom of speech is a constitutional right that must be protected in a democratic society. However, there is an alarming problem in many countries where governments limit freedom of speech by targeting people espousing views contrary to those of the government. Many free speech cases handled by the Constitutional Courts of Indonesia and Korea demonstrate a gradual decline in the quality of democracy there. This article aims to assess the extent to which the Constitutional Courts’ role and responsibilities contribute to the protection of freedom of speech. Through its decisions, the Constitutional Courts in those two countries have contributed to …

The Case For Preempting State Money Transmission Laws For Crypto-Based Businesses, Carol R. Goforth

Arkansas Law Review

Few industries are evolving as rapidly or as dramatically as those involving payment systems. The recent advent and spread of cryptocurrencies and associated trading platforms and exchanges, as well as ongoing improvements and innovations in FinTech generally, ensure that this is going to continue for the foreseeable future. Along with this rapid change has come a dynamic increase in the number and range of payment startups, a development that has been recognized as likely to redound to the benefit of consumers and the broader economy. The problem is simply that regulation is not keeping up with innovation.

Sidra International Dispute Resolution Survey: 2020 Final Report, Nadja Alexander, Vakhtangi Giorgadze, Allison Goh

Research Collection Yong Pung How School Of Law

The International Dispute Resolution Survey: 2020 Final Report presents the findings of the Singapore International Dispute Resolution Academy’s inaugural examination into the preferences, experiences, practices and perspectives of international dispute resolution users around the globe. The survey examined three major international dispute resolution mechanisms: international commercial arbitration, international commercial mediation, international commercial litigation, as well as hybrid dispute resolution mechanisms such as mediation-arbitration and arbitration-mediation. The survey also inquired into the use of technology in international dispute resolution, such as predictive analytical tools and negotiation support systems, and asked the users to express whether they were satisfied with the use …

Addressing The Auditor Independence Puzzle: Regulatory Models And Proposal For Reform, Martin Gelter, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

Auditors play a major role in corporate governance and capital markets. Ex ante, auditors facilitate firms’ access to finance by fostering trust among public investors. Ex post, auditors can prevent misbehavior and financial fraud by corporate insiders. In order to fulfill these goals, however, in addition to having the adequate knowledge and expertise, auditors must perform their functions in an independent manner. Unfortunately, auditors are subject to conflicts of interest by, for example, providing non-audit services or the mere fact of being hired and paid by the audited company. Therefore, even if auditors act independently, investors have reason to think …

The Low Usage Of Bankruptcy Procedures: A Cultural Problem? Lessons From Spain, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

While filing for bankruptcy does not seem appealing for any debtor regardless of the jurisdiction, the reluctance to use the bankruptcy system varies across countries. This article explores the underlying reasons and economic effects of the low usage of bankruptcy procedures in Spain, where the rate of business bankruptcies is one of the lowest in the world. Some authors have argued that the low usage of bankruptcy procedures in Spain is due to a “cultural” problem faced by Spanish entrepreneurs. According to this hypothesis, the lack of a “bankruptcy culture” makes Spanish entrepreneurs afraid to use the bankruptcy system. In …

Implikasi Yuridis Akta Yang Dibuat Berdasarkan Keputusan Sirkuler Yang Cacat Hukum (Studi Putusan Pengadilan Tata Usaha Negara Jakarta Nomor 105/G/2019/Ptun-Jkt), Anastasia Lucia Margaret

Indonesian Notary

Penelitian membahas mengenai implikasi yuridis terhadap akta yang dibuat berdasarkan keputusan sirkuler yang cacat hukum dalam Studi Kasus Putusan Pengadilan Tata Usaha Negara DKI Jakarta Nomor 105/G/2019/PTUN-JKT. Metode penelitian yang digunakan adalah yuridis-normatif dengan bentuk penelitian preskriptif-analitis dan menggunakan bahan data sekunder berupa bahan hukum primer, sekunder, dan tersier. Pasal 91 Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas menyebutkan bahwa “Pemegang saham dapat juga mengambil keputusan yang mengikat di luar RUPS dengan syarat semua pemegang saham dengan hak suara menyetujui secara tertulis dengan menandatangani usul yang bersangkutan” namun PT IKP selaku pemegang saham tidak pernah menandatangani Keputusan Sirkuler PT …

Tanggung Jawab Notaris Dalam Pembuatan Akta Perjanjian Kredit Dengan Menggunakan Surat Palsu (Studi Kasus Putusan Pengadilan Negeri Jakarta Barat Nomor 952/Pid.B/2019/Pn.Jkt.Brt.), Anita Ratna Sari

Indonesian Notary

Notaris dalam menjalankan tugas dan jabatannya ketika membuat akta autentik dituntut untuk lebih cermat dan melaksanakan prinsip kehati-hatian, mengingat sering terjadinya permasalahan hukum terkait akta autentik yaitu terdapat pihak-pihak yang melakukan kejahatan seperti memberikan identitas dan dokumen palsu dalam pembuatan akta autentik yang mengakibatkan Notaris mendapat masalah hukum atas akta yang dibuatnya. Penelitian ini mengangkat permasalahan tentang bagaimana tanggung jawab Notaris dalam pembuatan akta perjanjian kredit yang dibuat dengan menggunakan surat palsu berdasarkan putusan Pengadilan Negeri Jakarta Barat nomor 952/pid.b/2019/PN.Jkt.Brt. Untuk menjawab permasalahan tersebut, penelitian ini menggunakan pendekatan yuridis normatif. Dalam penelitian ini menggunakan data sekunder yang terdiri dari bahan …

Pembatalan Akta Jual Beli Yang Tidak Sesuai Perjanjian Pengikatan Jual Beli (Studi Kasus Putusan Pengadilan Negeri Labuan Bajo Nomor 8/Pdt.G/2018/Pn Lbj), Audina Sintasari

Indonesian Notary

Pada dasarnya suatu perjanjian tidak selamanya dapat berjalan sesuai dengan kesepakatan yang diinginkan oleh para pihak yang memungkinkan kesepakatan tersebut berakibat mengalami pembatalan, baik dibatalkan oleh para pihak maupun atas perintah pengadilan. Salah satu kasus pembatalan Akta Jual Beli yang tidak sesuai dengan yang disepakati para pihak dalam Perjanjian Pengikatan Jual Beli yang dibuatnya, terdapat dalam Putusan Nomor 8/Pdt.G/2018/PN Lbj. Penelitian ini menganalisis penerapan PPJB sebagai perjanjian bantuan untuk perjanjian pokok baru melalui jual beli serta implikasi hukum terhadap pembatalan AJB karena tidak dipenuhinya PPJB. Penelitian ini menggunakan metode penelitian yuridis normatif, tipologi penelitian deskriptif analitis, jenis data sekunder, berupa …

Akta Sewa Menyewa Dengan Objek Harta Bersama Yang Dibuat Tanpa Persetujuan Pasangan (Studi Kasus: Putusan Mahkamah Agung Republik Indonesia Nomor: 1111/K/Pdt/2018), Aya Sofia

Indonesian Notary

Harta benda dalam perkawinan dibagi menjadi dua bagian yaitu harta bersama dan harta pribadi. Harta bersama adalah harta yang diperoleh dalam masa perkawinan tanpa mempermasalahkan siapa yang memperoleh barang tersebut. Apabila terdapat pihak yang ingin melakukan tindakan hukum atas harta bersama tersebut, baik oleh suami maupun istri, maka ia haruslah mendapatkan persetujuan dari pasangannya sebagaimana diatur dalam Pasal 36 ayat (1) Undang-Undang Nomor 1 Tahun 1974 tentang Perkawinan (“UU 1/1974”). Namun, tidak terdapat ketentuan lebih rinci yang mengatur sejauh apa persetujuan pasangan harus disyaratkan. Tidak adanya ketentuan tersebut membuat praktik yang dilakukan oleh notaris ataupun masyarakat pada umumnya terkadang berbeda-beda …

Implikasi Yuridis Atas Kelalaian Pejabat Pembuat Akta Tanah Yang Mengakibatkan Akta Hibah Tanah Hak Milik Kepada Warga Negara Asing Batal Demi Hukum (Studi Putusan Mahkamah Agung Nomor 547k/Pdt/2019), Cecilia Andriana Suwarno

Indonesian Notary

Jurnal ini membahas mengenai implikasi yuridis terhadap Pejabat Pembuat Akta Tanah (PPAT) yang lalai dalam menjalankan kewenangannya. PPAT saat pembuatan akta hibah tidak mengumpulkan dokumen identitas salah satu pihak dengan lengkap dan hal tersebut menyebabkan kebatalan akta hibah tanah Warga Negara Asing. Adapun permasalahan yang diangkat dalam penelitian ini meliputi akibat hukum atas kelalaian PPAT dalam membuat akta hibah tanah hak milik dari Warga Negara Indonesia kepada Warga Negara Asing. Untuk menjawab permasalahan tersebut menggunakan metode penelitian yang digunakan adalah yuridis normatif dengan tipologi penelitian deskriptif analitis. Hasil penelitian ini yakni kepemilikan tanah hak milik oleh Warga Negara Asing di …

Pemenuhan Prinsip Kehati-Hatian Dalam Penggunaan Radio Frequency Identification Pada Kartu Tanda Penduduk Elektronik Sebagai Penunjang Pengenalan Penghadap Di Notaris, Clifford Erikson Kwandang

Indonesian Notary

Penelitian ini membahas mengenai pemenuhan prinsip kehati-hatian terhadap tindakan penggunaan cip RFID yang terdapat pada KTP Elektronik sebagai tindakan untuk menanggulangi penggunaan identitas palsu pada saat pengenalan penghadap di Notaris, agar menjawab permasalahan tersebut digunakan metode penelitian hukum normatif dengan pendekatan kualitatif dimana peneliti bertujuan untuk mengerti dan memahami gejala yang ditelitinya yang mana data yang diperoleh akan dibaca/ditafsirkan sendiri oleh penelitinya. Adapun Analisa data dilakukan dengan secara Preskriptif. Hasil Analisa menyatakan bahwa Notaris hanya bertugas untuk meneliti kebenaran formil dari suatu akta, beban tanggung jawab Notaris terhadap akta yang dibuatnya terletak pada kepatuhan Notaris dalam melaksanakan kewajibannya sesuai dengan …

Implikasi Yuridis Gugatan Terhadap Notaris Yang Telah Meninggal Terhadap Akta Yang Didasarkan Keterangan Palsu (Studi Kasus Putusan Mahkamah Agung Republik Indonesia Nomor 2997 K/Pdt/2017), Devita Putri Dewi

Indonesian Notary

Penelitian ini meneliti Putusan Nomor 2997 K/Pdt/2017 mengenai adanya Akta Pengakuan dan Kuasa atas tanah yang dibuat oleh seorang Notaris dengan didasari keterangan palsu dari penghadap. Permasalahan yang diangkat adalah implikasi yuridis akta yang diterbitkan secara melawan hukum sebagaimana Putusan yang dianalisis, pertanggungjawaban Notaris atas akta yang dibuatnya berdasarkan keterangan palsu, serta implikasi yuridis terhadap Notaris yang telah meninggal atas akta yang dibuatnya berdasarkan keterangan palsu. Metode penelitian tesis ini menggunakan bentuk penelitian yuridis normatif dengan tipe penelitian kualitatif. Hasil dari penelitian ini adalah akta yang diterbitkan secara melawan hukum membuat akta tersebut menjadi tidak sah dan dapat dinyatakan menjadi …