Sanctifying Microstructure in the Qur’anic Discourse: A Contextual Study

This research is an analytical analysis of Surat Al-Baqarah Verse No. 214, with an explanation of its situational context. This study aims to demonstrate the aspects of contextual analysis and its continuous horizons that are provided not only by the macro-structure of discourse, which is represented by default rules and semantics of rhetorical terms, but also by the micro-structure of discourse, which is represented by default rules and semantics of rhetorical terms. We recognize the perspectives, distinctions, and elements that are employed in lighting the discourse to impair the speaker's goals in order to achieve the eloquence of persuasion, communication, and comprehension through the micro-structure of discourse.

Contract Law Concentrate

Each Concentrate revision guide is packed with essential information, key cases, revision tips, exam Q&As, and more. Concentrates show you what to expect in a law exam, what examiners are looking for, and how to achieve extra marks. Contract Law Concentrate contains a wealth of information on the field of contract law to aid with revision and understanding the elements of the contract law syllabus. It looks specifically at the components of agreement, enforceability criteria comprising intention to create legal relations, consideration, and the doctrine of promissory estoppel. It also focuses on some problems associated with reaching agreement, such as whether the terms are sufficiently certain, and mistakes which prevent agreement. The doctrine of privity determines who has the ability to enforce the contract and whether a third party can take the intended benefit of a contract. Contract Law Concentrate focuses on the terms (or promises) of the contract and breach of contract when those promises are broken. It also examines exemption clauses and unfair contract terms. Next it looks at remedies for the breach of contract. It then turns to contractual impossibility and risk where the default rules of common mistake (initial impossibility) and frustration (subsequent impossibility) will determine the parties’ positions in the absence of party allocation. Finally, it outlines contractual remedies for actionable misrepresentations and looks briefly at the common law doctrine of duress and the equitable doctrine of undue influence.

What We Do and Do Not Know About Standard Form Contracts? An Empirical Study of Wealth Management Product Contracts in China

Wealth management products have been popular investment vehicles in China, and they are governed by standard form contracts. Existing studies mainly focus on the risk of such products and suggest having special laws to provide more protection for customers. Little is known about the actual contents of wealth management product contracts. Based on 66 hand-collected wealth management product contracts from major Chinese commercial banks, this article tries to explore the contractual relationship between giant banks and individual customers. It also tests the exploitation theory in a Chinese context by analysing whether the wealth management product contracts are more pro-seller or pro-buyer relative to the laws and regulations in China. Our findings reinforce the argument that standard form contracts are designed in favour of the sellers. The wealth management product contracts are tilted toward the commercial banks relative to the default rules. These contracts contain massive clauses that limit banks’ liabilities and restrict customers’ choice of conflict resolution mechanisms. However, a counter-intuitive finding is that national commercial banks provide less pro-seller terms than the local ones. We argue that the explanations for such variation in contract practices among Chinese commercial banks lie in the enforcement of relevant laws and regulations and the unique nature of national commercial banks.

Personalized Regulatory Techniques

This chapter expands the demonstration how personalized law would transform existing legal institutions. The chapter shifts the focus from specific doctrines to regulatory techniques. These are generic approaches to the design of legal interventions, used in every area of law. The chapter examines the personalization of several techniques: default rules, mandated disclosures, compensatory damages, and bundles of rights. With each of these tools, the law presently prescribes one-size-fits-all rules, designed to either best fit the average person, or to promote the interests of a specific subgroup of the population. By shifting to personalized rules, the law could simultaneously advance the interests of different groups and individuals. The chapter shows that designing personalized default rules, disclosures, damages, or bundles of rights would promote the goals underlying these interventions. Personalized default would mimic peoples’ preferences more successfully and reduce the incidence of opt-out. Personalized disclosures stand a chance of being more useful to people. Personalized compensation would come closer to making victims of wrongs whole. And personalized bundles of rights would recognize the diversity of people’s interests and aspirations.

Can Automatic Retention Improve Health Insurance Market Outcomes?

There is growing interest in market design using default rules and other “choice architecture” principles to steer consumers toward desirable outcomes. Using data from Massachusetts's health insurance exchange, we study an “automatic retention” policy intended to prevent coverage interruptions among low-income enrollees. Rather than disenroll people who lapse in paying premiums, the policy automatically switches them to an available free plan until they actively cancel or lose eligibility. We find that automatic retention has a sizable impact, switching 14 percent of consumers annually and differentially retaining healthy, low-cost individuals. The results illustrate the power of defaults to shape insurance coverage outcomes.

10 Company Subject to Another Insolvency Procedure

This chapter sets out who can apply for a winding-up order and when a winding-up order can be made where a company is already subject to an insolvency procedure. This chapter discusses the insolvency procedures under the law of England and Wales, other parts of the United Kingdom and outside the UK. A supervisor of a company voluntary arrangement (CVA) approved under IA 1986, part 1, may petition for the compulsory winding up of the company, and the court may appoint the supervisor to be liquidator of the company. IA 1986, part 1, is applied with modifications to building societies by the Building Societies Act 1986. When a company is in administration, no petition for it to be wound up may be presented without the administrator’s consent or the court’s permission, unless it is presented for the purpose of proceedings under the default rules of a recognized body in a financial market.

Problem areas of business ethics

This chapter discusses three key problem areas of business ethics. The first topics covered are poverty and inequality: absolute and relative poverty are distinguished, and the concept of equality is scrutinized. Second, the authors discuss human dignity and human rights. The distinctions between negative and positive liberties and between moral universalism and relativism are explained. Default rules exemplify how the concept of human dignity can be made fruitful for the problem of institutional design. Third, the notion of sustainability is treated. Among others, the triple-bottom line approach with its economic, ecological, and social dimension illustrates the multiple facets of sustainability. Finally, time preferences are introduced and alternative solution strategies of efficiency and sufficiency are contrasted with each other.

Common Pharmaceutical Price and Cost Controls in the United Kingdom, France, and Germany: Lessons for the United States

To identify pharmaceutical spending-control options for the United States, we analyzed the policies of the United Kingdom, France, and Germany, which encourage drugmakers to undertake innovations that improve health while controlling spending. Their main strategies today include: using legislation to set default rules that increase the insurer's bargaining position, employing health technology assessment that measures cost-effectiveness or comparative effectiveness and caps the purchase or reimbursement price, setting a single maximum price for similar drugs (reference group pricing), capping prices near prices in other European countries (external reference pricing), prohibiting price increases, contracting to obtain discounts as sales volume rises, procuring drugs through competitive bids, and requiring manufacturers to pay rebates when spending exceeds a global budget. Each strategy addresses a distinct cause of high spending and supports overall goals. Most recent US reform proposals recommend incremental changes that would not address the major sources of high and increasing pharmaceutical prices. However, some US reform proposals resemble certain European strategies and could bring more significant change. US policymakers should consider adopting each of the strategies employed in these countries.

1. Introduction to the Study of Contract Law

This introductory chapter provides an overview of contract law and its application. A contract is an agreement made with intention that it will be legally enforceable. Contract law concerns issues regarding the formation of contracts; the sources, interpretation, and regulation of terms; when a breach takes place and the resulting consequences; and ways to escape a contract through vitiating factors, mistake, or frustration. The parties’ intentions are determined using an objective approach based on the standard of the reasonable person. A lot of contract law can be understood as default rules to apply when the parties have not been clear enough about their intentions. The law of contract also concerns foundational principles and mainly consists of common law rules. Many cases still give effect to the values of the classical model, which is based on the freedom and sanctity of contract, and a view that contracting parties are self-interested. The most significant recent development away from the classical model is the recognition of relational contracts and an implied obligation to act in good faith.