Although presented as being derived from the past, principles in contract law have been subject to constant reformulation, thereby facilitating legal change while simultaneously seeming to preclude ...it. Principle and policy have been mutually interdependent, propositions not usually being called principles unless they have been perceived to lead to just results in particular cases, and as likely to produce results in future cases that accord with common sense, commercial convenience and sound public policy. The influence of policy has been frequent in contract law, but Stephen Waddams argues that an unmediated appeal to non-legal sources of policy has been constrained by the need to formulate generalised propositions recognised as legal principles. This interrelation of principle and policy has played an important role in enabling an uncodified system to hold a middle course between a rigid formalism on the one hand and an unconstrained instrumentalism on the other.
Over the past 30 years there has been considerable research on the political economy of reform. Yet despite this, little is known about strategies for managing the politics of changemoving from a ...bad to a better equilibrium. Part of the challenge of studying this issue stems from the difficulty of obtaining detailed, so-called blow-by-blow information on actual reform processes. From this type of information, one can discern and cull practical lessons on strategy, which by its very nature is about dealing with political barriers or problems as they crop up during the implementation process. This study looks at the sequence of events that ultimately led to the passage of legislation that markedly altered the rules that govern public procurement in the Philippines. The study attempts to distill operationally useful lessons for managing the politics of a reform process.
Murphy discusses Mike Bender's article. He questions the statistical validity of a comparison between a non-peer reviewed annual publication from 2009 to 2018 and three peer reviewed (two quarterly, ...one twice yearly) academic journals. In his article, Bender does not acknowledge the significance of the centenary issue of The Mariner's Mirror 97, no. 1 (2011), in which he, published 22 articles in 398 pages from leading scholars, most of which were surveys of the state of the huge range of disciplines contained in Mariner's Mirror since its inception. Overall, however, Bender is of course correct at the dire state of maritime history in British universities. It is lamentable that so few PhD students go on to full time jobs in our universities and the tiny amount who do are usually on precarious short-term contracts.
This award-winning book is a comprehensive and timely examination of remedies for breach of contract. It analyses and challenges fundamental aspects of English law contractual remedies, drawing upon ...comparative study of French law and with particular focus on recent developments in both jurisdictions. It also makes suggestions as to how contractual remedies in England might be strengthened.
Ugovor o faktoringu je pravni posao kupoprodaje postojeće nedospjele ili buduće kratkoročne novčane tražbine nastale iz osnova ugovora o prodaji robe ili pružanju usluga u zemlji i inostranstvu, koja ...se prenosi na faktora ugovorom i koji preuzima potraživanje od prodavca da bi to naplatio u svoje ime i za svoj račun. Ugovor o faktoringu mora biti zaključen u pisanoj formi između klijenta (prodavca) i faktora. O zaključenom ugovoru dužnik mora biti obaviješten na pouzdan način. Buduće tražbine mogu biti predmet faktoringa samo ako su u trenutku sklapanja ugovora bile dovoljno odredive. Osnovne funkcije faktoringa su funkcija finansiranja, usluge i osiguranja naplate.
Yawning gaps in bargaining powers between transacting parties have always been a source of concern in commercial relations and the legal governance of such relations. In modern times, the likely ...implications of gaps in bargaining powers are not only palpable as it concerns the affairs of transacting parties with weaker bargaining powers, but also on the welfare of society, at large. That is particularly so in this milieu of pervasive oligopolistic market structures, organised commercial networks, digitisation, and big data. The imperative to guard against the use of contractually agreed remedial clauses to consolidate market power and as tools for wealth extraction is the concern of this article. To this end, this article makes a case for a recalibration of the rule against penalties in contract law.
When all parties involved in the construction process fully understand their roles and are able to anticipate potential points of conflict, disputes and delays will be minimised.The Employer’s and ...Engineer’s Guide to the FIDIC Conditions of Contractsets out the essential administrative requirements of a FIDIC based contract by reference to the FIDIC 1999 Red Book.The obligations and duties of the Employer and the Engineer are identified and discussed. Potential pitfalls are highlighted and likely consequences pointed out.The importance of the Employer’s role in the preparation of tenders, which fully reflect his requirements and duties and obligations arising in the execution of the works, is emphasised. The key role of the Engineer in the effective administration of contracts after award is examined and commentary provided.Included in the guide are a number of appendices, including model letters which will be of value to less experienced staff (particularly those whose mother-tongue is not the English language).Engineers, quantity surveyors and project managers engaged in the contractual administration of international projects using FIDIC forms of contract will find the concise guidance in simple and jargon-free language provided here invaluable.This, together with the author’s earlier book, Contractor’s Guide to the FIDIC Conditions of Contract - which describes the duties, rights and responsibilities of the Contractor – represents the totality of supervision, design and execution of construction projects executed under the FIDIC Conditions of Contract.This book’s companion website offers invaluable resources to freely download, adapt and use:Model letters for use by the EmployerModel letters for use by the ContractorSample Interim Payment CertificateModel Form for Submissions to the EngineerModel Form of Engineer’s Order for Varied WorksModel Form of Daywork/Daily Record Sheets
ABSTRACT
Research suggests that employees work harder under penalty contracts than under economically equivalent bonus contracts. We build on this literature by examining how the motivational ...advantage of penalty contracts depends on a common aspect of real-world contracts: payoff ambiguity. With payoff ambiguity, employees provide effort without knowing how much pay they will receive for a given level of performance. According to our theory, this ambiguity opens the door for employee optimism, which has contrasting effects under each contract frame. Results from an experiment support this theory, with an increase in ambiguity leading to less employee effort with penalty contracts (as employees optimistically expect small penalties) and more effort with bonus contracts (as employees optimistically expect large bonuses). We also find that these effects are stronger for more dispositionally optimistic employees. Overall, our results suggest that bonus contracts may be more motivating and penalty contracts less motivating than previously thought.
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