Guaranties and suretyships reduce the risk of default and today remain essential arrangements in many commercial and consumer transactions. A guarantor or surety promises to pay for the debt of a third party and may become primarily liable on that debt. Despite the significance of such a promise...

Despite similar strategic and procurement interests, defense contracting practices vary between the United States and Australia. This comparative article discusses how both countries approach termination for convenience (TFC) in defense contracts, ultimately arguing that the use of TFC clauses...

The protection afforded to franchisees differs widely across the world. Nations with economically strong franchise sectors typically regulate the contract’s bargaining phase and post-formation. Responding to the European Parliament’s call for a review of regulations governing Europe’s...

The United Nations Convention on Contracts for the International Sale of Goods (CISG) entered into force for Turkey on August 1, 2011. This article considers the significance of Turkey’s accession to the CISG as part of Turkey’s continuing engagement with systems of international trade,...

The debate about the compensation of executives and directors is a discussion about incentives and agency costs. This article analyzes basic tools to reduce agency costs and also assesses the ongoing debate about the future regulation of the compensation of executives and directors. It draws...

The Indian Copyright Act, 1957 (the Act) governs copyright law in India. It finds its roots in its colonial past, being heavily influenced by the Copyright Act of the United Kingdom of 1956. The Act has served well for long, but with technological developments and increasing discontent among...

The English version of this paper can be found at http://ssrn.com/abstract=1947539 This Article was written by the author in English and was translated for publication in Portuguese. The Article offers a view, from a U.S. perspective but for a non-U.S. readership, on the significant aspects of...

The Portuguese version of this paper can be found at http://ssrn.com/abstract=1947554 This Article offers a view, from a U.S. perspective but for a non-U.S. readership, on the significant aspects of planning for dispute resolution in the context of cross-border business transactions involving...

Mainstream policy discussions take as given that the United States will and must pay its debts in full and on time, and that restructuring is legally and politically impossible. In our judgment, this assumption is unwarranted. Far from being unthinkable, under some circumstances restructuring...

In this paper we theoretically and empirically examine how the interaction between the formal court system and the informal loan network affects a household's decision to start a business. We find that when the formal court system is weak, expansion of informal credit network leads to the...