This paper challenges the widespread public and institutional misconception that legal tender laws in English law compel creditors to accept payment in a specific form. We argue that legal tender is a narrow, procedural artefact with diminishing practical relevance. Through an analysis of...

Rational parties enter into a contract if the agreement is mutually beneficial. However, after the contract is formed, changes to the costs and/or benefits of performance may render the original contract undesirable. In this paper, we carry out an incentivized experiment to study the effect of...

Targeted financial sanctions are routinely used to combat financial crime. As they are endorsed by the United Nations and the Financial Action Task Force, the vast majority of jurisdictions have established regulatory frameworks that make provision for targeted financial sanctions. These...

Naidu and Yuchtman (2013) find that labor demand shocks in 19th-century Britain had an impact on master and servant prosecutions, as breaking an employee contract was a criminal offense until 1875. We first reproduce all regression tables in Naidu and Yuchtman (2013) and then test for robustness...

Blockchain applications greatly depend on smart contracts, which are programs of software code that automatically execute the terms of upfront negotiated agreements. The execution of such agreements has traditionally been guaranteed by a single trusted entity, but is increasingly guaranteed by...

This study - commissioned by the Policy Department C at the request of the Committee on Legal Affairs - aims at discussing the reasons why the law chosen in commercial contracts is largely non-European and non-member state law. To do so, it first provides an overview of the relevant academic and...

This study, commissioned by the European Parliament's Policy Department for Citizens' Rights and Constitutional Affairs at the request of the JURI Committee, provides an analysis of buyout contracts imposed by platforms in the cultural and creative sector in EU law. The study provides a detailed...

This Article makes two original contributions to the contract interpretation and renegotiation literatures. First, we introduce an under-explored cause of renegotiation failure: party uncertainty regarding the type of court that will interpret their contract. Parties may predict differently how...

Contract law affects behavior not just directly, by ordering damages, but also indirectly, by providing information on how the parties to the dispute behaved. Information from litigation can then help third parties decide whether to do business with the disputants going forward. Contract law...

This Article examines the latest international uniform law initiative on the creation of an International Sales Law for Europe, namely the Common European Sales Law (CESL). It comprises four parts, which correspond to the most complex and important aspects of the project’s novel legal response...

In nowaday’s international trade, the contracting parties often come from a different linguistic background. As a consequence, the use of foreign languages in contractual relationships raises many issues the implications of which are often underestimated. They are thereby analysed in a...

Blockchain technology can autonomously perform transactions across various industries and sectors without human involvement, revolutionizing how people do business. These transactions are performed through smart contracts, which consist of coded commands on the blockchain. This paper looks at...

COVID-19 pandemic has multiple consequences and knocked multiple disciplines after its occurrence throughout the globe. Among the disciplines touched by the pandemic is the role of law presented as an excuse for the responsibility of non-performance of owing to the pandemic. The COVID-19...

This chapter examines the often-cited distinction between private international law and public international law in the context of the UN Convention on Contracts for the International Sale of Goods (‘CISG’). The traditional view holds that private and public international law are separate...

The employee / contractor distinction & casual employment : preferring the employer's contract over the worker's reality -- Implied terms : reality in historical perspective and the neoliberal approach -- Adverse action : ... at the employer's convenience -- Contract and collective bargaining :...

Das Lehrbuch gewährt einen systematischen Überblick über das Schweizer Finanzmarktrecht samt einer ökonomischen Fundierung. Die fünfte Auflage berücksichtigt die jüngsten Entwicklungen der Gesetzgebung sowie die an den Finanzmärkten aufgetretenen Turbulenzen und deren Bewältigung,...

Natural resources such as carbon, water, and fish are increasingly managed with markets that require an initial allocation of property rights. In practice these rights are typically grandfathered based on historical use, but rights could be allocated any number of ways. Taking the perspective of...

We provide a quantitative macrohistory of the evolution and coevolution of three fundamental elements of English caselaw: property, contract, and procedure. Our dataset is derived from a comprehensive corpus of reports on pre-1765 English court cases. Leveraging existing topic model estimates,...

The contribution aims to address the issues implied by the following questions: (a) What is the contract law to be codified? (b) What is the possible impact of a European contract law codification upon the other private law fields? (c) Which are the driving forces behind and ahead of the...

In Atlantic Marine Construction Company v. United States District Court, the Supreme Court held that a “contractually valid” forum selection clause should be enforced by federal courts absent extraordinary circumstances. Unfortunately, the Court provided no guidance on how to assess whether...