Contracts Commons^™

Defining Smart Contract Defects On Ethereum, Jiachi Chen, Xin Xia, David Lo, John Grundy, Xiapu Luo, Ting Chen

Research Collection School Of Computing and Information Systems

Smart contracts are programs running on a blockchain. They are immutable to change, and hence can not be patched for bugs once deployed. Thus it is critical to ensure they are bug-free and well-designed before deployment. A Contract defect is an error, flaw or fault in a smart contract that causes it to produce an incorrect or unexpected result, or to behave in unintended ways. The detection of contract defects is a method to avoid potential bugs and improve the design of existing code. Since smart contracts contain numerous distinctive features, such as the gas system. decentralized, it is important …

Frustration, The Mac Clause, And Covid-19, Andrew A. Schwartz

Publications

COVID-19's impact on business has been exasperating—but is it Frustrating? The Frustration doctrine of contract law excuses a party from its contractual obligations when an extraordinary event completely undermines the principal purpose of making the deal. This doctrine has long been a marginal player in contract litigation, as parties rarely invoked it—and usually lost when they did.

The COVID-19 pandemic, however, is precisely the type of extraordinary event that Frustration was designed to address, and the courts have been inundated over the past year by a wave of colorable Frustration claims. This timely Article describes the Frustration doctrine and explores …

Dentistry And The Law: Network Leasing Arrangements And Their Effect On Fees, Dan Schulte Jd

The Journal of the Michigan Dental Association

Dentists entering network leasing arrangements often face uncertainty about fees due to the lack of transparent fee schedules. While leasing companies aim to connect dentists with insurers and plans, the absence of clear payment information poses challenges. Dentists may receive varying amounts for the same services, impacting financial predictability. The article emphasizes the importance of understanding contract terms, obtaining fee schedules, and monitoring patient volume to assess the arrangement's overall benefit.

Contractual Evolution, Matthew Jennejohn, Julian Nyarko, Eric L. Talley

Faculty Scholarship

Conventional wisdom portrays contracts as static distillations of parties’ shared intent at some discrete point in time. In reality, however, contract terms evolve in response to their environments, including new laws, legal interpretations, and economic shocks. While several legal scholars have offered stylized accounts of this evolutionary process, we still lack a coherent, general theory that broadly captures the dynamics of real-world contracting practice. This paper advances such a theory, in which the evolution of contract terms is a byproduct of several key features, including efficiency concerns, information, and sequential learning by attorneys who negotiate several deals over time. Each …

Whiteness As Contract, Marissa Jackson Sow

Law Faculty Publications

2020 forced scholars, policymakers, and activists alike to grapple with the impact of “twin pandemics”—the COVID-19 pandemic, which has devastated Black and Indigenous communities, and the scourge of structural and physical state violence against those same communities—on American society. As atrocious acts of anti-Black violence and harassment by law enforcement officers and white civilians are captured on recording devices, the gap between Black people’s human and civil rights and their living conditions has become readily  apparent. Less visible human rights abuses camouflaged as private commercial matters, and thus out of the reach of the state, are also increasingly exposed as …

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 …

Taxing Choices, Tessa R. Davis

FIU Law Review

Tax has a choice problem. At all stages of the making of tax, choice plays a role. Lawmakers consider how tax will impact the range and appeal of choices available to an individual. Scholars critique how tax may drive an individual toward or away from a given choice. Courts craft stories of how an individual had either free or deeply constrained choice, using their perception of the facts to guide their interpretation of tax law. And yet for all the seeming relevance of choice to tax, we have no clear definition of what we mean when we talk about choice …

A New Methodology For The Analysis Of Visuals In Legal Works, Michael D. Murray

FIU Law Review

The goal of this Article is to introduce a comprehensive methodology for the analysis of visuals used for communication in legal works, by which I mean transactional and litigation documents, legal instruments, primary and secondary sources of law, and legal informational materials. To date, the scholarship on visuals in legal communications has been heavily descriptive, with some forays into the ethical and practical considerations of the use of “visualized” legal works. No one has yet devised a comprehensive analytical methodology that draws upon the disciplines of visual literacy, visual cultural studies, visual rhetoric, and mise en scène analysis to evaluate …

A Philosophy Of Contract Law For Artificial Intelligence: Shared Intentionality, John Linarelli

Scholarly Works

This is a chapter for the forthcoming book, Contracting and Contract Law in the Age of Artificial Intelligence, edited by Martin Ebers, Cristina Poncibò, and Mimi Zou, to be published by Hart Publishing. The aim of this chapter is to offer a general theory of contract law to account for the inclusion of artificial intelligence in contract practices. Artificial intelligence brings out that what makes contract law a distinctive form of legal obligation is shared intentionality. I refer to this insight as the shared intentionality thesis. Shared intentionality is the psychological capacity of one agent to share and pursue a …

Controlling Fairness In Standard Form Contracts: What Can Courts Do, And What Should They Do?, Marcus Moore

All Faculty Publications

Unfair terms in standard form contracts are one of Contract Law's most notorious and enduring problems. The vast transnational literature on this, now a century old, has long worked out its contours, even as it still searches for more effective solutions. The central problem can be simply stated: A form drafter's ability to dictate terms-characteristically unknown and unbargained by the parties who are form recipients-allows, in the absence of any other legal control, for the incorporation of one-sided terms favouring the drafting party. The implications are significant: The exhaustive list of terms typical of such contracts, combined with the pervasiveness …

Systemic Risk Of Contract, Tal Kastner

Scholarly Works

Complexity and uncertainty define our world, now more than ever. Scholars and practitioners have celebrated modular contract design as an especially effective tool to manage these challenges. Modularity divides complex structures into relatively discrete, independent components with simple connections. The benefits of this fundamental drafting approach are intuitive. Lawyers divide contracts into sections and provisions to make them easier to understand and reduce uncertainty. Dealmakers constructing complex transactions use portable agreements as building blocks to reduce drafting costs and enable innovation. Little attention, however, has been paid to the risks introduced by modularity in contracts. This Article demonstrates how this …

Twitter V. Musk: The "Trial Of The Century" That Wasn't, Ann M. Lipton, Eric L. Talley

Faculty Scholarship

The months-long saga over Elon Musk's on-again, off-again acquisition of Twitter provided considerable entertainment for lawyers and laypeople alike. But for those of us who teach business law, it also provided a unique (and in certain ways, vexing) opportunity to show real-time examples of the legal principles that are the grist for courses in contracts, corporations, corporate finance, and mergers and acquisitions.

Both of us found ourselves incorporating the saga into our classroom discussions, which in turn informed our own thinking about how the dynamic played out. Although we were both relatively active on social media (indeed on Twitter itself) …

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 …

Mass Arbitration, J. Maria Glover

Georgetown Law Faculty Publications and Other Works

For decades, the class action has been in the crosshairs of defense-side procedural warfare. Repeated attacks on the class action by the defense bar, the U.S. Chamber of Commerce, and other defense-side interest groups have been overwhelmingly successful. None proved more successful than the “arbitration revolution”—a forty- year campaign to eliminate class actions through forced arbitration provisions in private contracts. The effects for civil justice have been profound. Scores of claims vanished from the civil justice landscape—claims concerning civil rights, wage theft, sexual harassment, and consumer fraud. The effects for social justice, racial justice, gender justice, and economic justice were …

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 …

Perlindungan Terhadap Notaris Atas Kewajiban Pelaporan Kepemilikan Manfaat Berdasarkan Perpres 13 Tahun 2018, Fariz Rachman Widyanto

Indonesian Notary

This study discusses the protection of Notaries for reporting beneficial ownership. Beneficial ownership is regulated in Presidential Regulation 13 of 2018 (Perpres13/2018). With this Presidential Regulation, corporations are required to submit a statement regarding the truth of the information submitted to the authorized agency through AHU-Online. One of the parties who can convey information on the beneficial owner of the corporation is a Notary. Notaries in this case play an important role in disclosing beneficial ownership, in accordance with Presidential Regulation 13/2018 which regulates the obligation of corporations to convey information about beneficial owners to the authorized agency, which can …