Notes, summaries, assignments, exams, and problems for Law & Jurisprudence

Regulation of Commercial Transactions in Civil Law Countries

1. The Rhodian Law

   This law stipulated that losses incurred by a sea captain while attempting to save the ship and cargo from peril must be shared proportionately by all cargo owners and by the ship owner. This rule was applied throughout the Mediterranean.

2. Athens

   A capitalist would lend money for a marine trading expedition. The loan was secured by the ship and cargo, but repayment of the capital and payment of interest were conditional on the ship’s safe return. The interest rate, ranging from 24 to 36 percent, was considerably beyond normal rates, reflecting the highly speculative risks involved. This transaction later developed into marine insurance.

3. The Romans

   1. Civil Law and Foreign

Abetment of a thing

(ii)Engages with one or more other person or persons in any conspiracy for the doing of that thing, if an act or illicit oversight happens in pursuance of that conspiracy and in order to the doing of that thing; or

Abetment

Abetment can be committed only when there is positive evidence of either instigation or conspiracy or intentional aid. If none of these three elements stated above is available then abetment does not stand proved. Therefore, mere presence at the scene of the offence would not be sufficient to make out a case of abetment. NLR

17th Century: Time Drafts and Promissory Notes

C. Instruments were developed

• The Time Draft

  The time draft was the first development. This type allowed a stated period of time before payment was due. A seller of goods could draw such a draft on the buyer, who would then sign it. By signing the draft, the buyer engaged to pay it when it became due. If the seller did not want to finance the sale by holding the draft until the due date, the seller could transfer it to a lender for less than its face value. The lender could then be paid the face amount of the draft by presenting it to the buyer for payment on the maturity date. The time draft served both as a credit instrument and to transmit funds.

• The Promissory Note

  The promissory note appeared secondly

The Officer of Watch and Ship Safety

The officer of watch is the Master's representative and his primary responsibility is, at all times, the safety of the ship. He is responsible for ensuring that the planned passage is properly carried out during his watch. He must at all times comply with the International Regulation for Preventing Collisions at Sea, 1972, Master's standing orders, and Master's bridge order book.

Maintenance of Watch and Look-out

The officer of watch is responsible for the maintenance of a continuous and alert watch and look-out. Under no circumstances should he leave the bridge until being properly relieved.

Responsibilities of the Master

The Master is responsible for the safe navigation of the ship and ensuring that all watch-... Continue reading "Responsibilities of the Officer of Watch and Master in Ship Navigation" »

Employee vs. Self-Employment: A Deep Dive into EU Labor Law

In the 19th century, the FCC recognized two types of renting agreements: one for things and one for works. Contracts for renting work (louage) assumed that workers trade the abstract and commodified aspects of their working activity. Workers, considered free and equal to their counterparts, could consent to unilateral control over their labor. This led to the development of labor protection to react to the harsh consequences of labor, questioning the idea of labor as a commodity separate from humans and recognizing the personal involvement of workers in the performance of the contract.

Personal Value: Fundamental rights (freedom of association and collective bargaining, no discrimination,... Continue reading "Employee vs. Self-Employment: EU Labor Law" »

Types of Federalism

Centralized Federalism

The national government takes primary responsibility for determining national goals in all major policy areas and directs state and local government activity through conditions attached to money grants.

New Federalism

Refers to efforts, first in the Nixon administration, to return some federal tax funds to the states (general revenue sharing) and later efforts in the Reagan administration to consolidate federal grant-in-aid programs into block grants.

Representational Federalism

The idea that federalism is defined by the role of the states in electing members of Congress and the president rather than any constitutional division of powers.

Coercive Federalism

The federal government's assumption of powers traditionally... Continue reading "Understanding Federalism: Key Concepts and Terms" »

What Is a Contract?

A contract is an agreement of wills between two or more persons, by which one or more of them consent to be bound to another or others to give something or provide a service. The essence of the contract is the agreement of wills; without it, there is neither a contract nor the obligations derived from it. This agreement requires two key elements: offer and acceptance.

Essential Elements of a Contract

A contract is only valid when the following requirements concur:

• Consent of the contracting parties.
• A certain object which is the subject matter of the agreement.
• The cause of the obligation established.

A. Consent

Consent is the meeting of offer and acceptance, which entails the birth of the contract. However, consent may be defective... Continue reading "Understanding Contract Law: Essential Elements and Validity" »

Credit: Economic and Legal Framework

Economic and Legal Concepts of Credit

1. Economic Concept

   Trust allows one party (the creditor or lender) to provide money or resources to another party (the debtor or borrower). The borrower does not reimburse the lender immediately, generating debt, but instead promises to repay or return those resources at a later date. Credit encompasses any form of deferred payment. The borrower receives something of value now and agrees to repay the lender at some later date, typically with interest.

2. Legal Concept

   Credit is defined as a promise of payment formalized through a contractual agreement between the debtor and creditor. In this agreement, the debtor has the obligation to pay, and the creditor holds the right to claim

Legal Theories on the Nature of Credit Instruments

1. Contractual Theory

   Contractual Theory. Influenced by civil law tradition, this theory states that the fundamental obligation of the legal relationship exists between the debtor and the creditor. The legal value of the document lies in the underlying transaction, not merely in the writing itself. It is not a declaration of intent but a mere detachment of the document, which establishes the concurrence between its content and the declaration, thereby giving birth to a commercial transaction through the submission of the document.

2. Unilateral Theory

   Unilateral Theory. The obligation is born from a simple unilateral promise, rather than an offer from the maker requiring acceptance or drafting and subscription.

Personal Property Classification

Personal Property

1. Goods. Are moveable, tangible property whose value depends upon its physical characteristics.
2. Intangibles. Are comprised of choses in action, like accounts and other contract rights, and certain miscellaneous rights such as informational rights and those protected by a patent, trademark, or copyright law.
3. Indispensable Paper.
   • The right itself, such as an obligation to pay money, is intangible, but with these types of property, the right is embodied in the writing, and the writing is tangible.
   • Its value does not lie in its physical characteristics but in the rights embodied in the paper.
   • The mechanism used to transfer the rights is physical delivery to the transferee of the paper itself, because the