This book examines the main issues arising in economic analysis of contract law with special attention given to the incomplete contracts. It discusses both the main features of contract law as they relate to the problem of economic exchange, and how the relevant legal rules and the institutions can be analysed from an economic perspective. Evaluate the welfare impacts, analyses the effects and the desirability of different breach remedies and examines the optimal incentive structure of party-designed liquidated damages under the different dimensions of informational asymmetry. Overall the book aims to contribute to the legal debate over the adoption of the specific breach remedies when the breach victim's expectation interest is difficult to assess, and to the debate over courts' reluctance to implement large penalties in the event of breach of contracts.

This is a comprehensive review of the issues that readers need to be aware of when negotiating the minefield of professional services contracts in the construction industry. It is practical and accessible in its approach, and addresses professional obligations when engaged under such agreements. It advises on the principle areas of consultancy risk and makes reference to some of the standard conditions produced by professional bodies. This book is an essential reference for consultants, project managers, architects as well as their legal advisors and insurers, enabling them to better understand and negotiate the contracts prepared by the client side of the industry for their professional services. It covers the contracts themselves and related legal issues and principles and is written in a way that will be accessible to non-legally trained readers. Uniquely the book provides an understanding of the risks, both legal and commercial, inherent in these types of professional appointments and therefore helps the reader to manage those risks. Another key feature is that it provides a supporting commentary on the 'benchmark' professional service agreements, including the RIBA, ACE and RICS appointments, and explains the differences. The revised version will now also cover the NEC3 PSC contract.

This is one of the first books that comprehensively explains fundamental theories of natural resource and infrastructure public private partnership (NRI-PPP) projects and project finance. NRI-PPP projects and project finance have been adopted in natural resource development, including oilfield development, mine development, and liquefied natural gas production; manufacturing, such as petrochemistry, which uses crude oil; and infrastructure-related projects such as railways, roads, airports, ports, water supply, waste treatment, communications, and electricity. An important concern during negotiations among the various stakeholders is the lack of congruence between theories underlying NRI-PPP projects and project finance and the particular, real-life business considerations of the subject project and lack of understanding of the key theories. Studies that help us understand NRI-PPP projects and project finance have been developed based on economic theories such as contract theory and the economics of law by several distinguished professors. Until now, however, in financial institutions staff in departments that specialize in project finance have developed an understanding of the theories underlying NRI-PPP projects and project finance primarily through on-the-job training during which business points of view were passed on. Principles and theories regarding NRI-PPP projects and project finance have not been taught through textbooks in these firms. In fact, there are only a few books that explain the fundamental theories for actual project structures or actual project finance. This book attempts to fill that gap by making clear the fundamental theories that exist behind the actual projects and project finance in relation to natural resources and infrastructure. Readers of this book will include not only professionals in various private sectors and banks but also those involved in PPP projects in the public sector.

The Professional Services Contract is intended for use in the appointment of a supplier to provide professional services. It can be used for appointing project managers, supervisors, designers, consultants or other suppliers under NEC contracts and can also be used for appointing supliers on non-NEC construction projects or for non-constructionprojects. This document contains the core clauses, the relevant main option clauses, the secondary option clauses and the contract data. Construction Clients' Board endorsement of NEC3 The Construction Clients' Board (formerly Public Sector Clients' Forum) recommends that public sector organisations use the NEC3 contracts when procuring construction. Standardising use of this comprehensive suite of contracts should help to deliver efficiencies across the public sector and promote behaviours in line with the principles of Achieving Excellence in Construction.

This topical and important book identifies the short to medium-term economic, financial and social consequences of Brexit. Containing perspectives from leading thinkers across legal, economic and financial fields, it considers both the general effect of UK withdrawal on the European integration process, and the specific impact on the free movement of capital, goods and people. Addressing the main areas within both the UK and the EU that can and will be affected by Brexit, including the financial sector, immigration, social rights and social security, After Brexit: Consequences for the European Union will make fascinating reading for all those currently engaged in the study and practice of Law, Economics, Finance, Political Science, Philosophy, History and International Affairs.

This book explores the legal and regulatory aspects of the complex air cargo sector, discussing in detail the general principles of the carriage of air cargo; artificial intelligence and air cargo; facilitation; carriage of hazardous goods; human remains; and animals, as well as cargo security; price fixing and anti competitive conduct in air cargo operations; liability issues; the air cargo supply chain and contract of carriage. It also discusses related achievements of the International Civil Aviation Organization; the International Air Transport Association and Airports Council International. The value of goods carried by airlines represents 7.4% of the global Gross Domestic Product. While cargo carried by air accounts for less than 1% of global cargo carriage, airlines carry 35% of the value of world trade, making this industry highly valuable and efficient, and the most reliable way to transport goods throughout the world. On average, airlines transport 52 million metric tons of goods per annum, worth an equivalent of $6.8 trillion, i.e. $18.6 billion worth of goods daily.

This book presents an account of legal, economic and managerial perspectives on governance in situations of financial distress and insolvency. It uses detailed real-life case studies of executive decision making to explore and illustrate the discussion. The book deals with the emergence of corporate governance as a framework of checks and balances on executive decision-making, before moving to the core issues of governance during financial distress and insolvency and alternative informal and formal rescue. Identifying and reviewing turnaround strategies and formal rescue processes available to management, the book also examines the increasing importance of creditors and their impact on business decision-making. The book provides a detailed interpretation of governance in five mega insolvencies in retail and construction following the financial crisis in 2008. It also sets out a methodology which is designed to inform and help those readers seeking to analyse and interpret director behaviour in such circumstances.

This book examines how property rights are linked to socio-economic progress and development. It also provides a theoretical analysis, an economic/social analysis of planning, case studies of the implementation of planning and regulation instruments, practices related to law and planning, analysis of case laws in a particular segment. The interconnection between property, law and planning is a running theme throughout the book. The land question has been central to South Asian development on two counts: First, although the majority of the population relies on agriculture and allied activities their livelihood, landholding is highly skewed; second, urban planning is facing unprecedented challenges due to bourgeoning property values as well as gush of migrants to cities seeking livelihood. The response to these challenges in the form of laws and policies has been very large compared to the academic attention that is received. However, the measures emerging from planning and policies have had limited impact on the extent of the problems. This paradox calls for serious introspection and academic engagement that this book undertakes. The book further deals with the emerging discipline of planning law, which determines property value and use, and argues that regulatory issues of public policy determine the property valuation and property pricing.

Economic development increasingly depends to a large extent on innovation. Innovation is generally covered by intellectual property (IP) rights and usually requires extensive funding. This book focuses on IP and debt financing as a tool to meet this demand. This book clarifies the situation of the use of IP as collateral in practice through a survey conducted in Japan on IP and debt financing. Various obstacles in the proper use IP and debt financing are identified, and some projects to facilitate its use are illustrated. IP and debt on a global scale, either by attracting foreign lenders or by collateralizing foreign IP rights, needs appropriate private international laws. This book analyzes such regulations in which the United Nations Commission on International Trade Law (UNCITRAL) has worked, paying due attention to the law of finance and insolvency law, as well as IP laws. However, further analysis is needed to identify under what conditions such solutions would show optimal effects. This book offers comprehensive analysis from an economic point of view.

This book brings together disparate views which attempt to locate India in the contemporary international legal order. The essays endeavour to explore critically India's role and attitude towards international law in various fields and its influence and contribution in the development of the latter. The contributions are also of historical value, as they analyse the present as part of a historical trajectory. Drawing upon the current and historical practices from their respective fields, the authors attempt to highlight some critical aspects involving India and international law. These aspects broadly underline India's drift from its traditional role as an ally and proponent of the third world towards the pragmatism of self-interest, behaviour that is often compelled by internal political and economic conditions, as well as the dictates of external forces.

This book describes the results of a research project on compliance and organizational integrity, financed by the German government and conducted over the last three years. The book offers a theoretical framework and valid instruments for measuring the outcome of compliance management: organizational integrity. To pinpoint the specifics of organizational integrity, and to create a framework for assessment, the book analyzes not only the cases of Siemens and Deutsche Bank but also a specific form of organization: governmental organizations. The book includes the results of a survey of employees in five German cities, in the course of which the author conducted interviews with the personnel responsible for compliance in different organizations. In addition, during their discussions he analyzed the administrative staff with regard to the decision-making processes they were involved in.

This book seeks to answer the questions: how do the rules of international treaties on trade and investment apply to the new laws and policies relating to energy-related trade, and do the rules of the multilateral system contribute to or detract from sustainable development? An emerging set of new problems in the law of international trade is how to reconcile the rules of the multilateral trading system with shortages of certain natural resources and the necessity to develop renewable energy resources. The chapters in this book provide a comprehensive analysis of the international trade issues presented by national trade laws and policies with regard to natural resources and energy. This book is about the extent to which we are interpreting existing rules to cover emerging problems and how the rules of the multilateral trading system can be adapted to achieve sustainable development in natural resources and energy. The book begins with a survey of selected national laws relating to recent restrictions on the export of natural resources, both resources used to produce energy as well as natural resources essential for industrial production. After examining the range of such laws in selected important countries, we turn to the application of the rules of the multilateral trading system to such export restrictions. We discuss the major rules of the World Trade Organization (WTO) as well as the natural resources rules in selected regional preferential free trade agreements. While there is not a comprehensive global legal regime on competition law, we believe it is also important to examine how selected national competition laws impact export restrictions on natural resources. This book will be a major contribution to the international dialogue on international economic law issues with respect to trade in natural resources and energy.

There is ample evidence about the negative effects business activity of all types can have on the provision of human rights. Equally, there can be little doubt economic development, usually driven through business activity and trade, is necessary for any state to provide the institutions and infrastructure necessary to secure and provide human rights for their citizens. The United Nations and businesses recognise this tension and are collaborating to effect change in business behaviours through voluntary initiatives such as the Global Compact and John Ruggie's Guiding Principles. Yet voluntary approaches are evidently failing to prevent human rights violations and there are few alternatives in law for affected communities to seek justice. This book seeks to robustly challenge the current status quo of business approaches to human rights in order to develop meaningful alternatives in an attempt to breech the gap between the realities of business and human rights and its discourse. This book was previously published as a special issue of the International Journal of Human Rights.

This collection of original essays by leading and emerging scholars in the field examines the history, conditions, organization, and strategies of pro bono lawyering. Private Lawyers and the Public Interest: The Evolving Role of Pro Bono in the Legal Profession traces the rise and impact of the American Bar Association's campaign to hold lawyers accountable for a commitment to public service and to encourage public service within law schools. Combining empirical legal research with reflections by practitioners and theorists about the meaning and practice of pro bono legal work, this collection of essays interrogates the public service ideals that are inscribed within the legal profession and places these ideals within a broader social, economic, ideological, and normative context. Particular attention is paid to the factors that explain why lawyers engage in pro bono work and the ways in which their views of pro bono are mediated by the institutional context of their legal practice. The book also explores the concept of "public" in public service and compares pro bono as a means of delivering legal services with other mechanisms such as state funding. Collectively, these essays investigate the evolving role of pro bono in the legal profession and in law schools, the relationship between pro bono ideals and pro bono in practice, the way that pro bono is shaped by external forces beyond the individual practitioner, and the multi-faceted nature of legal professionalism as expressed through pro bono practice.

From the standpoint of practising engineers, architects and contractors, the law of contract is the most important one and, from preparation of technical documents to its execution and in the determination of disputes, the engineer or architect must have relevant knowledge. This book acts as a practical guide to building and engineering contracts. All points are explained with illustrations gathered from decided court cases. This book covers the substantive law of contract applicable to building and engineering contracts with updated noteworthy judgments. FIDIC conditions are mentioned at appropriate places with a global focus. Key Features: Guide for a full and thorough understanding of the contractual undertakings of the civil engineering industry, primarily in India Discusses specific conditions which are fertile sources of disputes, referring to and commenting upon the FIDIC conditions Covers internationally adopted standard form conditions of contract with analysis, discussions and interpretations, with decided court cases from India and abroad Focuses on technical civil engineering aspects Addresses cases from countries including UK, US, Canada, Australia, New Zealand and India

This volume of essays draws together research on different types of collective actions: group actions, representative actions, test case procedures, derivative actions and class actions. The main focus is on how these actions can enhance access to justice and on how to balance the interests of private actors in protecting their rights with the interests of society as a whole. Rather than focusing on collective actions only as a procedural device per se, the contributors to this book also examine how these mechanisms relate to their broader social context. Bringing together a broad range of scholarship from the areas of competition, consumer, environmental, company and securities law, the book includes contributions from Asian, European and North American scholars and therefore expands the scope of the traditional European and/or American debate.

A little book that's big on information, the Architect's Legal Pocket Book is the definitive reference guide on legal issues for architects and architectural students. This handy pocket guide covers key legal principles which will help you to quickly understand the law and where to go for further information. Now in its third edition, this bestselling book has been fully updated throughout to provide you with the most current information available. Subjects include contract administration, building legislation, planning, listed buildings, contract law, negligence, liability and dispute resolution. This edition also contains new cases and legislation, government policy, contract terms and certificates including the RIBA contract administration certificates, inspection duties and practical completion, The Building a Safer Future, Proposals for Reform of the Building Safety Regulatory System Report, the Hackitt review, the Report of the Independent Inquiry into the Construction of Edinburgh Schools and practical issues facing architects. Illustrated with clear diagrams and featuring key cases, this is a comprehensive guide to current law for architects and an invaluable source of information. It is a book no architect should be without.

Contract and procurement fraud, collusion, and corruption are worldwide problems. Such wrongdoing causes federal, state, and local governments, as well as private-sector corporations and businesses, to lose funds and profits, while the wrongdoers unjustly benefit. Bid riggers conspire to eliminate fair and open competition and unjustly increase prices, allowing some to monopolize industries. Too often, contracting officials and others responsible for placing orders or awarding contracts compromise their integrity and eliminate fair and open competition to favor vendors offering bribes or gifts. This results in unfair playing fields for vendors and causes financial losses for businesses, government agencies, and taxpayers. Charles Piper's Contract and Procurement Fraud and Corruption Investigation Guidebook educates readers on fraud and corruption schemes that occur before, during, and after contracts are awarded. This book teaches not only how to identify such wrongdoing, but also how to investigate it and prevent reoccurrence. Piper shares the Piper Method of Conducting Thorough and Complete Investigations, his innovative and proven method of investigating contract and procurement fraud, and demonstrates its principles with personal, on-the-job examples (which he calls "War Stories") woven throughout the text. Intended for criminal justice students, as well as investigators, auditors, examiners, business owners, policy-makers, and other professionals potentially affected by fraud, this book is a must-read guide to effective procurement and contract fraud investigations from inception to testimony.

The Asian model of export-led growth served it well in the post-war period, but prolonged sluggish growth of the developed economies following the global financial crisis, together with growing inequality and rising environmental problems, point to the need for a new growth model. The purpose of this book is to describe the challenges facing Asian economies in the post-global financial crisis environment and to identify structural issues and policies that can help guide Asian policymakers to expand the growth potential of domestic and regional demand in coming years, and thereby create a basis for balanced, sustainable, and inclusive long-term growth. These issues and policies span a variety of dimensions, including macroeconomic policy (monetary, fiscal, and foreign currency management), real sector issues (trade and industrial structure), infrastructure development, labor market and social policy, financial sector reform and regulation, and regional cooperation and architecture. Key recommendations to achieve these goals include measures to: deepen social protection to support social resilience; increase infrastructure investment to create a "seamless Asia"; enhance productivity in the services sector; establish a region-wide free trade agreement to encourage intraregional trade in goods and services and investment through economies of scale and dynamic efficiency of a larger market; promote a shift to a low-carbon society and support green growth; and deepen and integrate financial markets to facilitate the recycling of Asia's high savings for investment within the region.

This collection of essays comprises some of Rudolf Richter's important contributions to research on New Institutional Economics (NIE). It deals with the central idea, principles, and methodology of New Institutional Economics and explores its relation to sociology and law. Other chapters examine applications of NIE to various microeconomic and macroeconomic issues in the face of uncertainty, from entrepreneurship to the euro crisis.

This book is the first study to examine the issue of the legality of parallel imports of trademarked goods under the most important legal systems on an international level, namely under GATT/WTO law, EU law and the laws of the ten major trading partners of the European Union. Part I consists of a general approach to the phenomenon of parallel importation and of a presentation of the theories that have been suggested to resolve the above-mentioned issue. The rule of exhaustion of rights, of which there are three types (rule of national, regional and international exhaustion of rights), is proposed as the most effective instrument to deal with the issue in question. Part II examines the question of exhaustion of trademark rights in light of the provisions of GATT/WTO Law. Part III analyzes the elements of the EU provisions on exhaustion of trademark rights (Articles 7 of Directive 2008/95/EC and 13 of Regulation (EC) 207/2009) and some specific issues relating to the application of these provisions. Part IV presents the regimes of exhaustion of trademark rights recognized in the European Union's current ten most significant trading partners. The book is the first legal study to welcome, in light of economic analysis, the approach adopted by GATT/WTO law and EU law to the question of the geographical scope of the exhaustion of the trademark rights rule. It includes all the case law developed on an international level on the issue of the legality of parallel imports of trademarked goods and a comprehensive overview of the scientific literature concerning the phenomenon of parallel imports in general and the legality of parallel imports of trademarked goods. All the views expressed in the book are based on the European Court of Justice's most recent case law and that of the courts of the most important trading partners of the European Union.

The very foundation of the economy is changing. Across the United States, primary and secondary sector industries are no longer as viable as they once were - because the particular businesses are no longer profitable, because the underlying resources are no longer as plentiful or desirable, or because human activity is not essential to various aspects of an industry's operations. As economies evolve from traditional industrial resources, such as mining and manufacturing, to 'new' resources, such as information and content, innovation and entrepreneurship are key. Entrepreneurship and Innovation in Evolving Economies examines the role of law in supporting innovation and entrepreneurship in communities whose economies are in transition. It contains a collection of works from different perspectives and tackles tough questions regarding policy and practice, including how support for entrepreneurship can be translated into policy. Additionally, this collection addresses more concrete questions of practical efficacy, including measures of how successful or unsuccessful legal efforts to incentivize entrepreneurship may be, through intellectual property law and otherwise, and what might define success to begin with. Expertly researched and widely accessible, Entrepreneurship and Innovation in Evolving Economies will appeal especially to students and scholars of innovation, law, and entrepreneurship. Contributors: M.M. Carpenter, S. Ghosh, E.J. Gouvin, S.D. Jamar, A.L. Johnson, B. Krumm, P.H. Lee, M.J. Madison, L. Mtima, S.M. O'Connor, M. Risch, F.G. Snyder, E. Townsend Gard

Originally published in 1912, this book examines some of the issues raised by the 1906 case Risdon Iron Works v. Furness, which was a key suit on the issue of cross-border insolvency. Young divides the discussion into two parts: the juristic person in private international law and foreign companies and other corporations in English law. This book will be of value to anyone with an interest in the history of English company and tax law.

This compilation of original papers selected from the 19th Conference on Postal and Delivery Economics and authored by an international cast of economists, lawyers, regulators and industry practitioners addresses perhaps the most significant problem that has ever faced the postal sector - electronic competition from information and communication technologies (ICT). This has increased significantly over the last few years with a consequent serious drop in mail volume. All postal services have been hard hit by ICT, but probably the hardest hit is the United States Postal Service, which has lost almost a quarter of its mail volume since 2007. The loss of mail volume has a devastating effect on scale economies, which now work against post offices, forcing up their unit costs. Strategies to stem the loss in volume include non-linear pricing or volume discounts, increased efficiency and the development of new products. This loss of mail volume from ICT is one of a number of current problems addressed in this volume. The Universal Service Obligation (USO) continues to be a leading issue and concern that ICT undermines postal services ability to finance the USO is discussed. The importance of measuring and forecasting demand and costs take on even greater importance as ICT undermines the foundations of the postal business. This thought provoking book brings to bear new analyses of the most serious threat post offices have ever faced and raises fundamental questions as to the future of mail. Multi-Modal Competition and the Future of Mail is an ideal resource for students, researchers in regulation and competition law, postal administrations, policy makers, consulting firms and regulatory bodies.

These guide notes explain the structure of the Professional Services Contract and the reasons for its provisions. They explain the "shell" of the contact and the need to provide important additional information such as the scope. The main options, dispute resolution options and the secondary options are all explained together with basis of appointing a consultant. Explanatory notes are then provided on individual clauses and worked examples are provided of contract data. The second part of the book contains flow charts which set out the procedural logic of the 28 clauses that can be presented with benefit by flow charting. Construction Clients' Board endorsement of NEC3 The Construction Clients' Board (formerly Public Sector Clients' Forum) recommends that public sector organisations use the NEC3 contracts when procuring construction. Standardising use of this comprehensive suite of contracts should help to deliver efficiencies across the public sector and promote behaviours in line with the principles of Achieving Excellence in Construction.