the effects of financial crises on the binding force of contracts renegotiation rescission or revision

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The Effects Of Financial Crises On The Binding Force Of Contracts Renegotiation Rescission Or Revision

Author : Başak Başoğlu
ISBN : 9783319272566
Genre : Law
File Size : 48. 44 MB
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This book is about one of the most controversial dilemmas of contract law: whether or not the unexpected change of circumstances due to the effects of financial crises may under certain conditions be taken into account. Growing interconnectedness of global economies facilitates the spread of the effects of the financial crises. Financial crises cause severe difficulties for persons to fulfill their contractual obligations. During the financial crises, performance of contractual obligations may become excessively onerous or may cause an excessive loss for one of the contracting parties and consequently destroy the contractual equilibrium and legitimate the governmental interventions. Uncomfortable economic climate leads to one of the most controversial dilemmas of the contract law: whether the binding force of the contract is absolute or not. In other words, unstable economic circumstances impose the need to devote special attention to review and perhaps to narrow the binding nature of a contract. Principle of good faith and fair dealing motivate a variety of theoretical bases in order to overcome the legal consequences of financial crises. In this book, all these theoretical bases are analyzed with special focus on the available remedies, namely renegotiation, rescission or revision and the circumstances which enables the revocation of these remedies. The book collects the 19 national reports and the general report originally presented in the session regarding the Effects of Financial Crises on the Binding Force of Contracts: Renegotiation, Rescission or Revision during the XIXth congress of the International Academy of Comparative Law, held in Vienna, July 2014.

Comparing The Prospective Effect Of Judicial Rulings Across Jurisdictions

Author : Eva Steiner
ISBN : 9783319161754
Genre : Law
File Size : 21. 8 MB
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This work deals with the temporal effect of judicial decisions and more specifically, with the hardship caused by the retroactive operation of overruling decisions. By means of a jurisprudential and comparative analysis, the book explores several issues created by the overruling of earlier decisions. Overruling of earlier decisions, when it occurs, operates retrospectively with the effect that it infringes the principle of legal certainty through upsetting any previous arrangements made by a party to a case under long standing precedents established previously by the courts. On this account, in the recent past, a number of jurisdictions have had to deal with the prospect of introducing in their own systems the well-established US practice of prospective overruling whereby the court may announce in advance that it will change the relevant rule or interpretation of the rule but only for future cases. However, adopting prospective overruling raises a series of issues mainly related to the constitutional limits of the judicial function coupled by the practical difficulties attendant upon such a practice. This book answers a number of the questions raised by this practice. It makes use of the great reservoir of foreign legal experience that furnishes theoretical and practical ideas from which national judges may draw their knowledge and inspiration in order to be able to advise a rational method of dealing with time when they give their decisions.

Disgorgement Of Profits

Author : Ewoud Hondius
ISBN : 3319187589
Genre : Law
File Size : 54. 75 MB
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Disgorgement of profits is not exactly a household word in private law. Particularly in civil law jurisdictions – as opposed to those of the common law – the notion is not well known. What does it stand for? It is best illustrated by examples. One of the best known being the British case of Blake v Attorney General, [2001] 1 AC 268. In which a double spy had been imprisoned by the UK government before escaping and settling in the former Soviet Union. While there wrote a book on his experiences, upon which the UK government claimed the proceeds of the book. The House of Lords, as it then was, allowed the claim on the basis of Blake’s breach of his employment contract. Other examples are the infringement of intellectual property rights, where the damages of the owner are limited, but the profits of the wrongdoer immense. In such cases, the question arises whether the infringing party should be disgorged of his profits. This volume aims at establishing the notion of disgorgement of profits as a keyword in the discourse of private law. It does not purport to answer the question whether or not such damages should or should not be awarded. It does however aim to contribute to the discussion, the arguments in favour and against, and the organisation of the various actions.

The Internationalisation Of Legal Education

Author : Christophe Jamin
ISBN : 9783319291253
Genre : Law
File Size : 62. 76 MB
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This volume provides an overview of the state of internationalisation of legal education (IOLE) in many civil law and common law countries. It provides a picture of the status of the debate about the shape and degree of internationalisation in the curriculum in the different countries, and the debates surrounding the adoption of a more international approach to legal education in the contemporary world. It is a compilation of the National Reports submitted for the August 2014 Congress of the IACL held at Vienna, and contains an introductory general report. Together, the reports examine such questions as: Why is the topic of internationalization of legal education on the agenda now? Why is it a relevant subject for examination today? Does the topic generate the same level of interest everywhere in the world? Is enthusiasm for IOLE mainly driven by the academic sector, by government, by multinational corporations? Is the interest closely linked with the globalization of the practice of law? Or is globalisation of law itself something of a myth, or a reality reserved for only a very small percentage of practising lawyers around the world? The general and national reports make clear that there is indeed widespread interest in IOLE, and numerous disparate initiatives around the world. Nonetheless, some National Reporters state that the topic is simply not on the agenda at all. All in all, the volume shows that the approaches to internationalisation are many and varied, but every jurisdiction recognises the importance of introducing aspiring lawyers to a more integrated global environment.

New Developments In Civil And Commercial Mediation

Author : Carlos Esplugues Mota
ISBN : 9783319181356
Genre : Law
File Size : 67. 86 MB
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By means of the analysis of more than 20 national jurisdictions of different legal and geographical origin this book provides a general understanding of the developments that civil and commercial mediation is currently undertaking across the world. The book combines 25 national reports with a General Report analyzing the major trends in civil and commercial mediation worldwide. A number of the key variables that make mediation so effective are studied in depth in the book. The concept of mediation, that varies from country to country. Its legal framework and the branches of public and private law in which it is used. The legal condition of the mediation agreement and its relevant conditions of form and content, the responsibilities of the parties in the event that they violate this agreement and the effects of this agreement on potential recourse to the courts or to arbitration, as well as with regard to pending cases. As well as the role played by the mediator, his or her appointment or designation, legal and ethical responsibilities, and the role of institutions in mediation. As well as the mediation process, its applicable rules and principles and its costs are analyzed on comparative basis. The book also pays special attention to the outcome of mediation. The enforceability of the settlement reached both in domestic and cross-border mediations constitutes a basic element for the success of the institution and is thoroughly studied. This volume constitutes a unique instrument for those interested on mediation, either practitioners, judges or academics.

Housing Finance Policy In Emerging Markets

Author : Loic Chiquier
ISBN : 9780821377512
Genre : Social Science
File Size : 31. 23 MB
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Housing finance markets have been changing dramatically in both emerging and developed economies. On the one hand, housing finance markets are expanding and represent a powerful engine for economic growth in many emerging economies. However, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into the financial system when expanding without proper infrastructure and regulation. As housing finance keeps growing in emerging economies to match a rising demand for housing, new risk management approaches, business models, funding tools, and policy instruments can help. Yet many questions remain about the right balance between innovation and regulation, the extent of risks to the financial system, the appropriate role of the state to promote affordable housing, and the effects of the sub-prime crisis. This book provides a guide for policymakers dealing with housing finance in emerging markets. It highlights the prerequisites for an effective housing finance system; it lays out several policy alternatives and models of housing finance; and it explores the role of governments in expanding access to housing finance for lower-income households. There is no "best" model set out in this book. The aim is to provide a developmental roadmap that can be tailored and sequenced to each country's situation and timing.

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