Consequential damages in the international sale of goods: analysis of two decisions

Article Abstract:

A US federal district court in Delchi Carrier S.p.A. v. Rotorex Corp. and the German Supreme Court decision on a provision similar to the United Nations Convention on Contracts for the International Sale of Goods both applied prior national law rather than developing a unified approach to international trade disputes. A Delchi-like plaintiff would be more likely to obtain damages in a commercial dispute under German law because of its less formal evidence rules. This would lead to forum shopping, which the drafters of the UN Convention sought to avoid. In both the German and the American case, consequential damages were denied.

United States, Cases, Germany, Commercial treaties, Trade agreements, Consequential damages

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Complex enterprises and quasi-public goods

Article Abstract:

Why complex economic organizations, such as equity joint ventures and strategic alliances, form is a question law and economic theorists have tried to answer. The transaction cost model answers the question by saying these organizations form because they exploit quasi-public goods more effectively than conventional organizations where market failure prospects make spot-contracting unreliable and access can be shared without diffusion when special attention is paid to protecting economic rents.

Models, International business enterprises, Multinational corporations, Corporations, Public goods

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Automated trading systems and the concept of an "exchange" in an international context proprietary systems: a regulatory headache!

Article Abstract:

An international automated trading system used by stock brokers, buyers and sellers in every country should be pursued, though it will be difficult for nations to agree on which securities laws and enforcement mechanisms should prevail. The proprietary systems of the US, France, UK and EC are surveyed to highlight different regulatory regimes and to recommend that exchanges made on international automated systems be modeled after EC securities law and enforcing institutions.

International aspects, Technology application, Comparative analysis, Securities law, Program trading (Securities)

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