scholarly journals ELECTRONIC RETAIL PAYMENT SYSTEMS IN CONFLICT OF LAWS Basic Electronic Payment Systems and Determination of the Applicable Law in North America and Europe

2005 ◽  
pp. 145-170
Author(s):  
Banu ŞİT
Author(s):  
Monika Pauknerová

Private international law smoothes the edges of civilian law and common law thanks to its specific legislative and technical structure. Conflict-of-law rules are considered to be neutral, and therefore more appropriate for unification, than substantive rules because countries are prepared to surrender their own individual solutions for the sake of uniform international or supranational regulation. This is evident in the successful unification of conflict-of-law rules at the global and European Union levels, as compared with the less common partial unifications of substantive rules. The paper illustrates several examples of unilateral legal acts in the European space, how diverse may be their substantive qualification in different legal systems, and what impacts these substantive differences may have upon the determination of the applicable law for obligations under European conflict-of-law rules. From the perspective of the conflict of laws, an issue remains open regarding what approach should be taken where a uniform legislative instrument – namely a European Regulation – fails to include a particular institution or act either expressly or impliedly.


Author(s):  
O.I. Vygovskyy

Abstract. This article examines conflict of laws issues related to issue and circulation of international bonds at international capital markets. It covers characteristic features of international bonds as financial instruments used for raising capital from sophisticated investors which determine, in particular, peculiarities of solving conflict of laws issues. These issues include determination of the law applicable to the formal and essential validity of an international bond, the rights and liabilities as between the issuer and the holder of the international bonds, legal status of a holder of such bonds, the questions of whether a holder obtains full title from a transferor and how title is to be transferred, and whether the transferee obtains title subject to or free from any defects in title of the transferor. The author specifies possible solutions of this conflict of laws puzzle that may include different competing legal systems. He argues that in common law and some other jurisdictions the fundamental lex voluntatis principle may also be applicable to international bonds due to their contractual nature resulting in possibility to choose the governing law for the bonds. The conventional approach as to the proprietary issues of the bonds refers to the lex situs of these securities as the governing law for these issues. The conclusions formulated at the end of the article present the author’s personal attitude towards legal solution of the problems related to determination of the applicable law for international bonds. Key words: international bonds, conflict of laws, issuer, governing law, lex voluntatis.


Author(s):  
Elena P. Voytovich ◽  

The changes in the paradigm of social development suggest that there is now an urgent need to consider legal phenomena from different perspectives. Scientific thought, critically assessing the legal order, is rethinking the role and significance of many legal categories. The foreign element in private international law is no exception, which has not received a generalized characterization, the studies of which are largely fragmentary, not allowing to create a holistic view of its role and purpose. In Russian jurisprudence, the category of the foreign element was introduced in the early twentieth century, was widely used in the works of Soviet authors and is now dominant in Russian law and doctrine. However, this approach is no more than an established terminological tradition. It is obvious that citizenship, place of residence and location of a thing are only characteristics of particular elements of legal relations, but they are not elements in them-selves. They only acquire legal significance when they form the basis of a conflict of laws decision. The foreign element is the criterion for choosing the applicable law (conclusion of mar-riage, marital cohabitation, the location of the object, the infliction of damage, etc.), rather than an element of the legal relationship, as stated in the binding of the conflict-of-laws rule. It expresses the most relevant, close link between the relationship and the foreign legal order. Other ties are to be regarded as having no legal significance and do not influence the choice of competent law. The resolution of cross-border family disputes requires not only a proper determination of the legal nature of the relationship, but also the establishment of its legal connection to foreign law, taking into account only the relevant circumstances and aiming at an adequate determination of the applicable law. It only seems logical to choose the competent law, which is based on the conflict of laws provision, takes into account the legal characteristics of the disputed legal relationship and expresses the most meaningful connection between the rela-tionship and the law of the other state. A special role in this is played by the court, which must ensure predictability and certainty in the choice and application of the competent law. Unfor-tunately, Russian jurisprudence sometimes interprets the purpose of the foreign element in an unreasonable way and ignores the legal connection of the disputed legal relationship with the territory of the foreign state which is objectified in the binding of the conflict of laws rule.


Author(s):  
Kubo Mačák

This chapter analyses the practical application of the law of belligerent occupation in internationalized armed conflicts in its temporal, geographical, and personal dimensions. Firstly, from a temporal perspective, the law is shown to apply once one of the conflict parties consolidates its control over the enemy territory and substitutes its own authority for that of the displaced enemy. Secondly, the chapter assesses the geographical scope of the applicable law and draws specific guidelines for the determination of the territory subject to the law of occupation in various types of internationalized armed conflicts. Thirdly, the chapter endorses the allegiance-based approach to the designation of protected persons under the law of occupation and applies it to the reality of internationalized armed conflict. Overall, the chapter presents a workable toolkit for the application of the law of occupation to internationalized armed conflicts.


2006 ◽  
Vol 5 (1) ◽  
Author(s):  
Jean-Charles Rochet ◽  
Jean Tirole

The paper offers a roadmap to the current economic thinking concerning interchange fees. After describing the fundamental externalities inherent in payment systems and analysing merchant resistance to interchange fee increases and the associations' determination of this fee, it derives the externalities' implications for welfare analysis. It then discusses whether consumer surplus or social welfare is the proper benchmark for regulatory purposes. Finally, it offers a critique of the current regulatory approach, and concludes with a call for more novel and innovative thinking about how to reconcile regulators' concerns and the industry legitimate desire to perform its balancing act.


Paleobiology ◽  
1981 ◽  
Vol 7 (3) ◽  
pp. 305-307 ◽  
Author(s):  
John C. Briggs

A current question being debated with considerable intensity is whether or not certain geographic areas act as centers of evolutionary radiation and supply species to other areas that are less active or less effective in an evolutionary sense. Darwin (1859) was the first to write about centers of origin which he called “single centers of creation.” He argued that each species was first produced within a single region and that it subsequently migrated from that area as far as its powers of migration and subsistence under past and present conditions permitted. Adams (1902), in discussing the influence of the southeastern United States as a center of distribution for the flora and fauna of North America, provided a series of criteria for the determination of “centers of dispersal.” His first, and evidently most important criterion was the location of “the greatest differentiation of a type.”


2021 ◽  
Vol 1 (5) ◽  
pp. 112-117
Author(s):  
V. V. TADTAEVA ◽  
◽  
B. E. BAGAEV ◽  
A. A. BESAEVA ◽  
A. E. KALMANOVA ◽  
...  

Money is an integral part of the economic life of society. Payments are made both in cash and in non-cash form. During the COVID-19 epidemic, the use of electronic payment systems became the most profitable. The article examines the role of electronic money in the modern world in the context of a pandemic. Is given a rating of e-payment systems in Russia for 9 months. 2020.


2021 ◽  
pp. 186
Author(s):  
Svetlana I. Krupko

This article analyzes the choice-of-law interests of specific and potential participants in the relations of intellectual property rights and the state in order to establish the closest connection of the above type of relation with the state, whose law should be applied. Taking into account the directionality of significant choice-of-law interests, advantages and disadvantages of territorial and universal approaches, a theoretically based solution is proposed for the formation of a general choice-of-law rule on the law to be applied to the relation of intellectual property rights. It was revealed in the study that the diversity of the relations of intellectual property rights (their obligatory and non-obligatory, property and personal non-property nature, other differences in legal features) does not automatically generate a multidirectionality of significant choice-of-law interests that should be taken into account when establishing a close connection of the above type of the relation with the state for determination of applicable law, does not prevent the formation of a general choice-of-law rule for the relations of intellectual property rights in general and does not unequivocally testify in favor of the specialization of its binding. However, the diversity of the relations of intellectual property rights should be examined and evaluated for the feasibility and limits of exceptions from the general choice-of-law rule and the development of special rules for resolving certain private of the relations of intellectual property rights.


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