Arbitration is the dominant method in the world for resolving international commercial disputes. As compared with institutional arbitration, ad hoc arbitration has many advantages that make it a preferred way to resolve commercial disputes on many occasions. The Arbitration Law of the People's Republic of China, however, requires that parties appoint an arbitration institution in their arbitration agreement; otherwise an ad hoc arbitration agreement is invalid. This rule seems to preclude ad hoc arbitration under Chinese law and threatens the validity of many arbitration agreements that are imperfectly drafted. Fortunately, however, this does not mean Chinese courts will never enforce an ad hoc arbitration agreement or an ad hoc arbitration award. This book informs parties and practitioners of potential pitfalls related to ad hoc arbitration in China and offers practical guidance. It also conducts a comparative study of the history of arbitration in the Western world and in China, to identify the reasons for this hostility to ad hoc arbitration and calls for changes to this requirement under Chinese law.

The first sustained analysis examining legal transplantation into East Asia, this volume examines the prospects for transplanting a 'rule of law' that will attract and sustain international trade and investment in this economically dynamic region. The book develops both a general model that explains how legal transplantation shapes legal development in the region, whilst developing theoretical insights into the political, economic and legal discourses guiding commercial law reforms in Vietnam. For the first time, this book develops a research methodology specifically designed to investigate law reform in developing East Asia. In so doing, it challenges the relevance of conventional convergence and divergence explanations for legal transplantation that have been developed in European and North American contexts. As the first finely-grained analysis of legal development in Vietnam, the book will be invaluable to academics and researchers working in this area. It will also be of interest to those involved in commercial legal theory.

This fourth edition of Business Law offers comprehensive and accessible coverage of the key aspects of business law. Established legal topics such as the English legal system, Contract, Consumer, Intellectual Property, Company and Employment Law, and emerging areas such as Health, Safety and Environmental Law are all addressed in the context of business. The work has been thoroughly updated to include all the major recent developments in business law, such as the new EU Trade Secrets Directive and case outcomes decided since the publication of the last edition. The book also discusses the impact of Brexit. In addition, the book features extensive diagrams and tables, revision summaries, reading lists, and clear key case boxes for easy reference. This book is ideal reading for undergraduate law and business studies students, while also applicable to practitioners and those with a more general interest in business law.

This volume focuses on transparency as the guiding principle for insurance regulation and supervisory law. All chapters were written by experts in their respective fields, who address transparency in a wide range of European and non-European jurisdictions. Each chapter reviews the transparency principles applicable in the jurisdiction discussed. While the European jurisdictions reflect different facets of the principle as emerging from EU law on insurance, the principle has developed quite differently in other jurisdictions.

Exploring the role played by cooperation in the law and management of modern, complex contracts, this book contrasts an in-depth review of case law with a large-scale empirical study of the views of commercial actors responsible for the outcomes of these contracts. The possibility of aligning these expectations with the law is considered from the perspective that there is a general duty for parties to cooperate and ensure constructive engagement. The book examines how this might translate into constructive communication, professional governance, genuine attempts to settle issues, a right to fix defects and a duty to take decisions in a fair and rational manner. It argues that statutory adjudication should be extended to all commercial contracts and more ambitious use of available remedies, including those for prevention and cost penalties, would help provide incentives for parties to cooperate more fully. The book will be of interest to academics in the fields of contract law and of contract management, as well as legal and commercial practitioners.

In this series of chapters on contract damages issues, Victor P. Goldberg provides a framework for analyzing the problems that arise when determining damages, and applies it to case law in both the USA and the UK. In analyzing direct damages, the author treats the problem as pricing the option to terminate. This sheds light on the question of the date at which damages should be measured and the role of post-breach information in damage assessment. It shows how the treatment of the so-called lost volume seller in both countries results in the court constructing an absurd contract, setting an option price with perverse characteristics. Goldberg then considers two questions regarding consequential damages--the enforceability of consequential damages exclusion clauses and whether the lost profits claims of new businesses should be rejected. Contracts professors, judges, lawyers and law students will be inspired by this volume to rethink the law of contract damages.

Illegality in Marine Insurance Law is the first book to deal specifically with illegality in the context of marine insurance law. Previously, this issue has only ever been partially covered within analysis and criticism of Section 41 of the Marine Insurance Act 1906 and warranties. However, Dr Wang Feng goes much further than this by considering its impact on the common law relevant to marine insurance in many jurisdictions worldwide. The book addresses whether the existing law represents an accurate codification of the former authorities and whether Section 41 truly reflects existing legal principles. As well as this, the book examines how correctly to approach illegality within the context of marine insurance, considering the fundamental changes to the rule of breach of warranty introduced by the Insurance Act 2015. Of interest to academic researchers and practitioners in common law and civil law jurisdictions, this book provides rigorous analysis of the illegality issue and a conceptual approach for various approaches to reform marine insurance law. It is a unique and comprehensive guide to illegality in marine insurance law.

There has been little or no study on trademark laws in Asia on a cross-jurisdictional level. This book aims at filling the existing gap and provides a comprehensive overview of trademark laws of eight major Asian jurisdictions and their most-updated trademark case law. The book analyses six of the principal issues that best reflect Asian features in trademark law and trademark development. The cases in the book are principally the most authoritative decisions, usually the first to deal with certain new emerging issues, or the first to apply particular statutory provisions in the respective jurisdiction. Also included are a small number of direction-changing, outlying or even controversial decisions. Each case report is divided into six sections: summary, legal context, facts, reasoning of the court, legal analysis, and commercial or industrial significance. Readers will find this book useful in both its overview of the legal context and how those cases are to be interpreted legally and commercially.

The book ties together much of the existing work on the history of oil and gas regulation in Iran and builds on that foundation to propose a coherent and balanced approach within the framework of the NCC.

Economists advise that the law should seek efficiency. More recently, it has been suggested that common law systems are more conducive of economic growth than code-based civil law systems. This book argues that there is no theory to support such statements and provides evidence that rejects a 'one-size-fits-all' approach. Both common law and civil law systems are reviewed to debunk the relationship between the efficiency of the common law hypothesis and the alleged inferiority of codified law systems. Legal Origins and the Efficiency Dilemma has six aims: explaining the efficiency hypothesis of the common law since Posner's 1973 book; summarizing the legal origins theory in the context of economic growth; debunking their relationship; discussing the meaning of 'common law' and the problems with the efficiency hypothesis by comparing laws across English speaking jurisdictions; illustrating the shortcomings of the legal origins theory with a comparative law and economics analysis; and concluding there is no theory and evidence to support the economic superiority of common law systems. Based on previous pieces by the authors, this book expands their work by including new areas of analysis (such as trusts), detailing previous analysis (such as French law versus common law in the areas of contract, property and torts), and updating for recent developments in the academic discourse. This volume is of interest to academics and students who study microeconomics, comparative law and foundations of law, as well as legal policy analysts.

"Law and Markets" examines the interaction between legal rules, market forces and prices. It emphasises the economic effects of legal rules on individual incentives in both market and non-market settings, and draws on cases and materials from a wide variety of legal jurisdictions to illustrate economic principles.

This is the first book published that focuses on competition law and policy in the Japanese pharmaceutical sector. It consists of chapters written and edited by academics who research the industry from various perspectives, including economics, competition law, pharmaceutical regulations, and intellectual property law. Competition policies involving pharmaceutical products attract attention from academics and policymakers worldwide. The pharmaceutical industry is regulated by drug laws that vary from country to country and are affected by differing practices and industrial structures. The book begins by examining drug regulations and trade practices in the industry that are peculiar to Japan and its healthcare system. It then presents the Japanese Antimonopoly Act and cases involving it, and discussions of current competition law issues in the Japanese pharmaceutical industry. The book also discusses innovation and intellectual property and economic analyses of pharmaceutical regulations and drug discovery. The chapters include comparative studies on Japanese regulations vs. those in the European Union and the United States. Japan is one of the biggest pharmaceutical markets in the world. With this in mind, the book provides "one-stop shopping" for anyone interested in pharmaceutical regulations in the country. Covering the basics but extending to in-depth explorations of complex problems, this book appeals not only to students and academics, pharmaceutical companies and regulators, but also to those dealing with real-world policy issues that encompass competition policy, intellectual property, and pharmaceutical regulation. Chapter 11 is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com

The fields of insurance law and insurance economics have long and distinguished scholarly histories, but participants in the two disciplines have not always communicated well across academic silos. This Handbook encourages more policy-relevant insurance economics scholarship and more economically sophisticated legal scholarship by bringing together original contributions from leading scholars in both fields. The benefits of this inter-disciplinary approach are introduced and illustrated in four comprehensive sections: - Why and how do individuals purchase insurance? - The role of the state in insurance markets - The regulation of insurance - Insurance law in the courts. Overall, this Handbook synthesizes the insights of insurance economics with the flourishing body of economically oriented research in insurance law. As well as providing a new approach for scholars, the Handbook will prove a useful reference for insurance lawyers and insurance regulators owing to its policy relevant, practical approach. Contributors: K.S. Abraham, D. Asmat, R. Avraham, T. Baker, E.F. Brown, P.-A. Chiappori, M.F. Grace, S.E. Harrington, D. Jaffee, R.W. Klein, H.C. Kunreuther, J. Kwak, K.D. Logue, J.A. Nyman, M.V. Pauly, D. Schwarcz, P. Siegelman, C. Silver, R. Squire, S. Tennyson

This book examines contractual limitation, principles and practice through the use of knock-for-knock indemnity clauses. In using such clauses, the parties agree that for certain forms of potential liability - typically property damage, personal injury to employees, and sometimes other heads of claim such as consequential loss - any loss arising will be absorbed by the party who suffers it: "you look after your losses, I'll look after mine." It is an apparently simple, pragmatic and neat solution to the question of who bears liability: a risk allocation model so straightforward that it was described by one experienced English judge, Honorable Mr. Justice Morison, as "crude". A specialist contributor team of international experts, examine the origin, application and effect of these clauses in important jurisdictions, their impact in different industries such as oil & gas, shipping, construction and insurance, through the lenses of both economic and legal analyses. The book is of use for lawyers, economists and businesspeople who draft, negotiates or manage contracts in all industries where liability is dealt with in this way. It is also of interest to students, academics, and policy makers.

Exploring obstacles to effective compensation of victims of competition infringements, this book categorises the types of victims harmed and the types of losses arisen from these infringements to identify to what extent there is a need for enhanced private competition law enforcement in the European Union (EU) and the best way to address this need. It shows that there is a genuine need for facilitating consumer damages actions and that consumer claims are the only claims that can be pursued in a collective redress action. In order to compensate consumers and overcome barriers to effective enforcement of their right to damages, it structures a collective redress action for consumers by considering the following elements: i. the formation of the group, ii. the type of representative party iii. funding mechanisms and iv. calculation and distribution of damages.

PRAISE FOR THE BOOK: "This constitutes a work of impressive scholarship that will become a major reference point for future discourse on choice of court agreements. Dr Ahmed advances a firm thesis in a lucid manner that will satisfy both academics and practitioners. The discussion is supported by a monumental foundation of underpinning research. Ahmed's monograph throughout shows clear understanding of underlying substantive laws and in Chapter 11 displays a refreshing willingness to engage in intelligent speculation on the implications of Brexit." Professor David Milman, University of Lancaster "The book is an excellent attempt to understand the theoretical underpinnings of choice of court agreements in private international law ... Anyone with an interest in the theory and practice of choice of court agreements, in particular in mechanisms for their enforcement, should read this book. They will find much of value by doing so." Professor Paul Beaumont, University of Aberdeen (from the Series Editor's Preface) This book examines the fundamental juridical nature, classification and enforcement of choice of court agreements in international commercial litigation. It is the first full-length attempt to integrate the comparative and doctrinal analysis of choice of court agreements under the Brussels I Recast Regulation, the Hague Convention on Choice of Court Agreements ('Hague Convention') and the English common law jurisdictional regime into a theoretical framework. In this regard, the book analyses the impact of a multilateral and regulatory conception of private international law on the private law enforcement of choice of court agreements before the English courts. In the process, it both pre-empts and offers innovative solutions to issues that may arise under the jurisprudence of the emergent Brussels I Recast Regulation and the Hague Convention. The need to understand the nature and enforcement of choice of court agreements before the English courts from the perspective of the EU private international law regime and the Hague Convention cannot be understated. This important new study aims to fill an existing gap in the literature in relation to an account of choice of court agreements which explores and reconnects arguments drawn from international legal theory with legal practice. However, the scope of the work remains most relevant for cross-border commercial lawyers interested in crafting pragmatic solutions to the conflicts of jurisdictions.

Mark Abell's book argues that the European franchising market fails to reach its potential as it remains unregulated. He supports this by analysing the historical legal and economic basics and risk/attraction profiles of franchising to franchisors and franchisee, compares the European situation to the highly developed regulatory regimes in the USA and Australia, and moves through to proposing and drafting a new EU directive to bring greater certainty and stability to cross border franchising in the EU. Comprehensively researched and very detailed, this book is a worthy contribution to the literature on the subject.' - Graham Cunningham, Barrister, HardwickeKey features of this detailed and insightful work include: - Practical analysis from a leading authority in the field of franchising. - Examination of the impact of both franchise specific and general commercial law upon use of franchising in the EU. - Comparative legal analysis of the law of England, Germany, France, the US and Australia. - Carefully constructed proposals for a franchise directive in the EU based on the vast experience of the author. - A draft text for the proposed directive. The Law and Regulation of Franchising in the EU provides an in-depth analysis of the regulatory environment for franchising in the EU. Franchising in the EU comprises nearly 10,000 franchised brands and over 215 billion (US$300 billion) turnover per annum. However, compared to its scale in the US and Australia, franchising is not realising its full potential in the EU and the author points to the lack of homogeneity across members states as a large part of the problem. The book concludes by arguing for the adoption of a draft directive, and proposes a draft directive, which promotes market confidence in franchising, provides pre-contractual hygiene and imposes a mandatory taxonomy of rights and obligations. This highly topical and comprehensive work will appeal to franchise lawyers and franchise academics as this is the first book that analyses the impact of EU and member state law upon the use of franchising in the EU. Contents: 1. Introduction 2. Deconstructing the Contextualisation, Architecture, Rationale and Risks of Franchising 3. Does the Contractual and Regulatory Environment Support and Promote Franchising? 4. identifying a Catalyst to Re-engineer the Regulatory Environment 5. Re-engineering the Regulatory Environment for Franchising in the EU 6. Conclusion Appendix 1: Proposed Draft Franchise Directive Appendix 2: Analysis of Franchise Agreements Appendix 3: Statutes of the 21 Countries Outside of the EU that have Franchise Specific Laws Appendix 4: European Franchise Associations and Membership Table of Statutes Table of Cases Bibliography Index

The use of new information and communication technologies both inside the courts and in private online dispute resolution services is quickly changing everyday conflict management. However, the implications of the increasingly disruptive role of technology in dispute resolution remain largely undiscussed. In this book, assistant professor of law and digitalisation Riikka Koulu examines the multifaceted phenomenon of dispute resolution technology, focusing specifically on private enforcement, which modern technology enables on an unforeseen scale. The increase in private enforcement confounds legal structures and challenges the nation-state's monopoly on violence. And, in this respect, the author argues that the technology-driven privatisation of enforcement - from direct enforcement of e-commerce platforms to self-executing smart contracts in the blockchain - brings the ethics of law's coercive nature out into the open. This development constitutes a new, and dangerous, grey area of conflict management, which calls for transparency and public debate on the ethical implications of dispute resolution technology.

To what extent did English law facilitate trade before the advent of general incorporation and modern securities law? This is the question at the heart of Capitalism before Corporations. It examines the extent to which legal institutions of the Regency period, especially Lord Eldon's Chancellorship, were sympathetic to the needs of merchants and willing to accommodate their changing practices and demands within established legal doctrinal frameworks and contemporary political economic thought. In so doing, this book probes at the heart of modern debates about equity, trusts, insolvency, and the justifiability of corporate privileges. Corporations are an integral part of modern life. We bank with corporations, we usually buy our groceries from them, and they provide us with most news and media. We take it for granted too that most large-scale business, and even much small-scale business, is carried out by corporations. Things were not always so. Televantos considers the Bubble Act of 1720, which criminalised the forming of corporations without a Royal Charter or Act of Parliament, its repeal in 1825, and the subsequent impact. Much of the modernisation of Britain's industry therefore took place before general incorporation was allowed. Unaided by statute, traders had to create business organisations using the basic building blocks of private law: trusts, partnership, and agency.

This volume analyses corporate insolvency law as a coherent whole, stemming from common fundamental principles and amenable to being justified or criticised on that basis. The author explains why consistency of principle must be sought and how it might be found in the relevant statutory and case law. He then constructs an egalitarian theory for the analysis of corporate insolvency law, based on the premise that all the parties affected by this law are to be treated as equals. He argues that this theory can reconcile the dictates of fairness with the demands of economic efficiency. The theory is employed to analyse some of the most important aspects of insolvency law. Why should the individualistic method of enforcing claims against solvent companies give way to a collective method during insolvency? Why are there different formal mechanisms for dealing with troubled companies? What role does the pari passu principle play in the distribution of an insolvent company s assets? The controversial issues of whether and when secured creditors should be accorded priority over others receive detailed consideration. The functional role of the floating charge and its relationship with receivership are also analysed in this context. The many questions relating to the operation of the new administration procedure introduced by the Enterprise Act 2002 are considered in the light of principle. The book also analyses the role of the wrongful trading provisions. It examines, finally, why insolvency law objects to certain transactions at an undervalue and those having a preferential effect. This volume aims to enhance understanding of this important branch of the law, and to suggest principled solutions to problems which have not yet received judicial attention.

The book International Mergers and Acquisitions is an anthology that combines scientifically substantiated articles and practical experiences to a synthesis. Different points of view based on scientific research, business administration and corporate law provide the reader a holistic perception - continuative to the existing standard literature. Selected articles from and for scientific research and economy focus on topics, which are only addressed marginally in existing books. International experts were invited to highlight new perspectives and perceptions in international M&A processes. Therefore the articles deal with M&A activities in the new EU member states, Eastern Europe and Asia, legal aspects, break-up fees and corporate lock-ups as well as brands in M&A and IT aspects.

This book is a comparative law study exploring the piercing of the corporate veil in Latin America within the context of the Anglo-American method. The piercing of the corporate veil is a remedy applied, in exceptional circumstances, to prevent and punish an inappropriate use of the corporate personality. The application of this remedy and the issues it involves has been widely researched in Anglo-American jurisdictions and, until recently, little attention has been given to this subject in Latin America. This region has been through internal political conflicts that undermined economic development. However, rise of democratic governments has created the political stability necessary for investment and economic development meaning that the corporate personality is now more commonly used in Latin America. Consequently, corporate personality issues have become a subject of study in this region. Drawing on case studies from Mexico, Colombia, Brazil and Argentina, Piercing the Corporate Veil in Latin American Jurisprudence examines the ingenuity of Latin American jurisdictions to deal with corporate personality issues and compares this method with the Anglo-American framework. Focusing in particular on the influence of two key factors- legal tradition and the uniqueness of each legal system- the author highlights both similarities and differences in the way in which the piercing of the corporate veil is applied in Latin American and Anglo-American jurisdictions. This book will be of great interest to scholars of company and comparative law, and business studies in general.

This book examines a largely unexplored dimension of the European agencies, namely their role in EU external relations and on the international plane. International cooperation has become a salient feature of EU agencies triggering important legal questions regarding the scope and limits of their international dimension, the nature and effects of their international cooperation instruments, their status within the EU and on the global level, and leading potentially to tensions between EU law and international law. This book fills the existing knowledge gap by scrutinizing the international cooperation legal framework and practice of EU agencies, including their mandate, tasks and instruments, together with their legal status as actors with a global dimension. It sets out a general legal-analytical framework which combines legal parameters from EU and international law to assess EU agencies as global actors, and examines in detail three case studies on carefully selected agencies to shed light on the complexities of EU agencies' daily international cooperation.

This book, through empirical case studies, reconstructs the principles of legal regulation in the intermediate field, thereby facilitating the understanding of the functional distinction between contract law and tort law. The intermediate field with fuzzy borderlines between contract law and tort law emerges as their regulatory functions have expanded. It takes two forms, namely the fuzzy and overlapping field. The institutional reason for the emergence lies in their overlapping functions. From a comparative perspective, this book contends that civil liability, as a normative remedy for rights and interests, should be separated from general law of obligations to construct a uniform norm of liability. In the case of diversified liability forms, a uniform system of civil liability should be constructed with the consequence model based on liability integration. As such, it contributes to restoring the functional foundations of liability that have been alienated, avoiding the intermediate field, and achieving integrated effects and uniform liability. Unlike the traditional research which focuses on the concurrent liabilities of contract and tort law, this book is the first to examine and propose the systemization of regulation in the intermediate field between contract law and tort law and hence a theoretical contribution to Chinese civil law and comparative law scholarship. While the Chinese Civil Code is coming into force, the book is conducive to the understanding of the cutting-edge research of Chinese civil law for the international community and provide fruitful materials for exploring both the advantages and drawbacks of the code.