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Recoge : I. The relations between fundamental rights and private law against the background of the public/private divide. -- II. The protection of the weaker party against risky financial transactions by means of fundamental rights. Synthesis and assessment.
This book provides answers to the following questions: how do traditional principles of private international law relate to the requirements of the internal market for the realisation of the EU’s objectives regarding the protection of weaker parties such as consumers and employees? When and how should private international law ensure the applicability of EU directives concerning the protection of weaker parties? Are the EU’s current private international law, rules on conflict of laws, and private international law approach sufficient to ensure the realisation of its objectives regarding weaker contracting parties, or is a different approach to private international law called for? The book concludes with several proposed amendments, mainly regarding the Rome I Regulation on the law applicable to contractual obligations, as well as suggestions on the EU’s current approach to private international law. This book is primarily intended for an academic audience and to help achieve better regulation in the future. It also seeks to dispel certain lingering doubts regarding the current practice of EU private international law.
Provides an unprecedented historical, theoretical and comparative analysis and appraisal of party autonomy in private international law. These issues are of great practical importance to any lawyer dealing with cross-border legal relationships, and great theoretical importance to a wide range of scholars interested in law and globalisation.
Contract and Regulation: A Handbook on New Methods of Law Making in Private Law sheds light on the darker side of contracts. It begins by exploring the ‘regulatory space’ in which projects are planned, deals are done, and goods and services are consumed, then shows how a ‘bottom-up’ approach can be adopted in order to view this transactional space through the eyes of contractors. The expert contributors explore modes of governance that do not fit nicely into traditional contract theory, paying special attention to three key examples: governance and codes of conduction, networks and relations, compliance and use.
In this volume, the Study Group and the Acquis Group present the first academic Draft of a Common Frame of Reference (DCFR). The Draft is based in part on a revised version of the Principles of European Contract Law (PECL) and contains Principles, Definitions and Model Rules of European Private Law in an interim outline edition. It covers the books on contracts and other juridical acts, obligations and corresponding rights, certain specific contracts, and non-contractual obligations. One purpose of the text is to provide material for a possible "political" Common Frame of Reference (CFR) which was called for by the European Commission's Action Plan on a More Coherent European Contract Law of January 2003.
This book analyses different strategies and their results in implementing financial regulation in terms of rule-making, public enforcement and private enforcement. The analysis is based on a comparative study of conduct of business regulation on mis-selling of financial instruments in the UK and South Korea. It extends into liquidity regulation in the banking sector and credit rating agency regulation. The book concludes that in rule-making, purposive rules are more effective for achieving regulatory goals with minimal undesirable results, but a rule-making system with purposive rules can only work on a foundation of trust among rule-makers, enforcers and the regulates, that with respect to public enforcement, the enforcement strategies should combine the compliance-oriented and deterrence-oriented approaches and be continuously adjusted based on close monitoring of the regulatory outcomes and that in private enforcement, regulation should be instituted as the minimum requirement in private law.
The Rome I Regulation applies to all EU Member States (except Denmark) in relation to 'contractual obligations in civil and commercial matters' in 'situations involving a conflict of laws' that arise out of contracts concluded from 17 December 2009. The Rome I Regulation has been described by the European Commission as 'a central element of the Community acquis in the area of civil justice'. This book is the most comprehensive work on the development of the Rome I Regulation that studies in detail the historical background, the legislative development and the teleological purpose of the Regulation. Beginning with the work that led up to the 1972 Draft Convention and the much neglected original French rapporteur's commentary, the author traces developments in the text through the 1980 Convention, highlights the legislative developments that began with the 2003 Green Paper, the Commission's 2005 Proposal and the subsequent negotiations that took place in the European Council and European Parliament that led to the final text of the Rome I Regulation itself. Particular emphasis is placed on highlighting the legislative intent reflected in the changes to the text of the draft Regulation that were made by the Civil Law Committee (Rome I) of the Council. The book marks out the borderline between the Rome I and Rome II Regulations, and considers in detail the application of the conflict-of-law rules in the Rome I Regulation to the specifically protected contracts such as consumer, insurance, carriage of passengers and individual employment contracts. It provides a primary source of reference for all readers involved in the practical interpretation of the Rome I Regulation, or who are interested in choice of law issues arising in international commercial contractual disputes.
This book examines the role and function of the law of contract, comparing it with other aspects of the law of obligations. It also covers the issues of contract formation such as the enforcement of promises, agreement and good faith; the construction and context of contracts; adjustments in long term relationships; the control of contract power and remedies for breach of contract
The insurance industry has found itself at the front line of climate change challenges, providing insurance cover in relation to risks associated with climate change. As risk carriers, insurers pay claims for climate change related losses – such as property damage caused by windstorms, flooding, and wildfires – which have been increasing in frequency and severity. As major institutional investors, insurance companies invest in assets that may be increasingly vulnerable to climate risks. Insurance regulators across the globe have therefore started to require insurance companies to identify, manage, and report on climate change risks that could pose a threat to their financial stability. However, managing and reporting on the effect of climate risk on an insurer’s balance sheet is an inward-looking perspective that does not stem climate change. It needs to be paired with an outward-looking perspective that takes account of the insurance industry’s impact on the environment and the insurance industry’s capacity to influence what policyholders, investee enterprises, and other business partners do to address climate change challenges. For the insurance industry, the key components of positive outward impact are ‘impact underwriting’ and ‘impact investment.’ This book sets out the current legal and regulatory landscape for impact underwriting and impact investment. Whilst the focus of research and regulatory interventions to date has been on inward impact, in this book it will be argued that, to take positive climate action that supports the Paris Agreement goals and the national and international Net Zero targets, the debate should now move on to considering the positive outward impact the insurance industry can make and how we can create a legal environment to facilitate this. The book puts forward the case for a new vision of the role of the insurance industry as climate action enablers and makes proposals for insurance products and risk transfer and loss resilience structures that can support policyholders in their transition to a Net Zero economy. The audience for this book will include legal practitioners, insurance industry professionals, financial and insurance regulators, policymakers, and interested academics.
This volume provides a comprehensive overview of business law in Russia. It presents an introduction to the Russian legal system in general before going on to provide a thorough analysis of the key aspects such as regulation, taxation, competition, contracts, intellectual property law, among many others. Where appropriate, cases and international comparisons are included to help illustrate the practical workings of this complex system. The book will be an invaluable guide for students, researchers and practitioners who want a clear understanding of legislation relating to business in contemporary Russia.