Search

Many tourism studies leverage the hedonic price model to gauge tourists' willingness to pay for diverse attributes of short-term rental properties. However, when this estimation is applied to the temporal analysis, it can be biased if variables varying with time, such as term structure effects in short-term rentals, are omitted. This paper introduces a repeat sales Airbnb ADR (average daily rate) index to track the change in quality-adjusted rentals of Airbnb properties over time in Auckland, New Zealand, while factoring in the term structure. The findings confirm that using repeat sales data from Airbnb listings can significantly mitigate the bias linked to time-varying attributes. Results demonstrate that when the term structure is not considered, the ADR calculated by the hedonic method may be overestimated by 0.2% per day of the tenancy term. The inventive Airbnb ADR repeat sales index enables the assessment of Airbnb rental trends, taking into account changes in the term structure of leases. This new index can potentially enhance Airbnb listings by incorporating the effects of lease term structures. [ABSTRACT FROM AUTHOR]

The aim of the research is to analyze the breach of international sales contract based on suspicion on non-conformity of the goods in regards to United Nations Convention on Contracts for the International Sale of Goods (CISG). This study is normative legal research. The types of approach used are the legislative approach, case approach, and conceptual approach. The analysis technique uses syllogistic methods through deductive thinking patterns. The result of the study indicates that the appropriate reason of suspicion of non-conformity of the goods under Article 35 of the CISG is the effect of suspicion on the usability of the goods rather than the existence of suspicion itself. It is required the most influence factor in having adverse effect on the function of the goods to be categorized as non-conformity of the goods in regards to a breach of contract. Suspicion could be removed by ensuring that the goods are functional. Finally, the burden of proof towards the suspicion on the non-conformity of the goods could be liable by the parties, especially the seller. [ABSTRACT FROM AUTHOR]

Imagine this: You have signed on the dotted line to purchase a home for $500,000. You have put down an earnest money deposit of $25,000. Right before closing, you find out that your bank will not provide the financing you thought you had secured. You can no longer afford to purchase your dream home. You are coming to grips with the reality that you are going to lose $25,000, which comprises the bulk of your life savings. Then you hear from the seller, telling you that they are going to come after you for $100,000 in "actual damages"--the amount the house depreciated between the time you signed the purchase and sale agreement and the time you breached the contract. How is this possible? It is bad enough that you are going to lose $25,000. How can you be on the hook for even more? It is because of a little-known clause in your purchase and sale agreement that provides the seller with the option of retaining the deposit as liquidated damages or suing for actual damages instead. These clauses have a variety of names: election clauses, election of remedies clauses, optional liquidated damages clauses, or cake-and-eat-it-too clauses. A surprising number of courts are prepared to give effect to these clauses, reasoning that they represent the parties' intent, and that freedom of contract demands that they be enforced. This Article argues that courts are getting it wrong: liquidated damages clauses cannot be reconciled with election clauses. No amount of freedom of contract logic can get around the fact that the two clauses are legally incompatible. This Article examines the two different contexts in which liquidated damages clauses and election clauses intersect. First, a buyer may seek a return of his earnest money deposit, arguing that the presence of an election clause renders the liquidated damages a penalty. Second, a buyer may seek to foreclose a seller from pursuing actual damages under an election clause, reasoning that such a clause is fundamentally at odds with a liquidated damages clause. In the first scenario, the buyer seeks to invalidate the liquidated damages clause; in the second, he seeks to invalidate the election clause. This Article encourages courts to prohibit liquidated damages clauses and election clauses from coexisting in contracts. A seller who attempts to have his cake and eat it too should be relegated to the lesser of the two amounts. [ABSTRACT FROM AUTHOR]

This paper delves into the historical roots of consumer protection in European legal history, looking beyond its contemporary association with EU regulations from the mid-70s. It explores buyer-seller dynamics, prevalent in both ancient and post-industrial societies, with a particular focus on ancient Rome. Specifically, it studies the need to shield buyers, as the vulnerable party, in sales contracts with professional sellers. It also examines who qualified as a consumer in ancient European legal history and compares it to the contemporary definition in European private law. The first section explores the position of the consumer in ancient Roman society, analyzing legal and non-legal sources to uncover measures aimed at enhancing consumer rights against professional sellers. The role of the curule aediles, particularly their legal innovations in buyer protection, is scrutinized. The paper then transitions to EU law, specifically examining the definition of consumers in Directive 1999/44/EC and the subsequent changes introduced in Directive (EU) 2019/771. The paper concludes with a proposal for a unified definition of consumers at the EU level, drawing insights from the ancient Roman society. It questions the feasibility of crafting a comprehensive consumer definition applicable across directives to foster consistency in consumer protection laws. In essence, the paper explores the historical inception of consumer protection, its current status in contemporary law, and suggests a forward-looking proposition for the future. [ABSTRACT FROM AUTHOR]

Background: With sustainable bioenergy in the European energy mix, intermediate bioenergy carriers (IBC) become of growing importance, as they can ensure a more efficient utilisation of biomass feedstocks from agricultural and forest residues. A high potential for market uptake is foreseen for fast pyrolysis bio-oil (FPBO), one of several IBCs. While facing the chicken and egg problem in market entry, the aim of this study was the development of adequate strategies to support market implementation. The case study findings and methodological approach can provide policymakers, industry, and a broader audience with a vision for addressing similar challenges in market adoption of innovations in the bioeconomy and beyond. Therefore, we tested a new PESTEL + I approach and its practical applicability to an IBC value chain. Results: With an adopted PESTEL method, we analysed a promising value chain in which FPBO is produced from sawdust in Sweden and Finland, transported to the Netherlands and upgraded and marketed as a marine biofuel. Our results show that the market uptake of IBCs such as FPBO and subsequently produced biofuels is above all driven by the European Renewable Energy Directive II (RED II). In Annex IX Part A, sawdust is listed as a feedstock for advanced biofuels, which can be double counted towards the 14% renewable energy share goal in the transport sector in 2030. To support the use of advanced biofuels in the maritime and aviation sector, the proposal for revision of RED II 2021 contains a new multiplier (1.2x) for fuels delivered to these sectors, while all other multipliers are deleted. These legal European obligations and implementation into national law of member states create strong incentives for many downstream market actors to use advanced biofuel. However, technological challenges for FPBO use still hamper fast market introduction. Conclusions: Overcoming technology challenges and the creation of long-term validity of guidelines and regulatory framework will create stable market conditions, investment security and finally stimulate long-term offtake agreements between feedstock providers, technology developers and downstream customers. The approach and findings can provide a vision to overcome similar challenges in other bioeconomy innovations' market uptake and beyond. [ABSTRACT FROM AUTHOR]

E-negotiations, or sales negotiations over email, are increasingly common in business-to-business (B2B) sales, but little is known about selling effectiveness in this medium. This research investigates salespeople's use of influence tactics as textual cues to manage buyers' attention during B2B e-negotiations to win sales contract award. Drawing on studies of attention as a selection heuristic, the authors advance the literature on mechanisms of sales influence by theorizing buyer attention as a key mediating variable between the use of influence tactics and contract award. They use a unique, longitudinal panel spanning more than two years of email communications between buyers and salespeople during B2B sales negotiations to develop a validated corpus of textual cues that are diagnostic of salespeople's influence tactics in e-negotiations. These e-communications data are augmented by salesperson in-depth interviews and survey, archival performance data, and a controlled experimental study with professional salespeople. The obtained results indicate that the concurrent use of compliance or internalization-based tactics as textual cues bolsters buyers' attention and is associated with greater likelihood of contract award. In contrast, concurrent use of compliance and internalization-based tactics is prone to degrade buyer attention and likely to put the salesperson at a disadvantage in closing the contract award. [ABSTRACT FROM AUTHOR]

Art. 1599 of the French Civil Code has remained unchanged since the enactment of the law and establishes that the sale of another's property is void, with the buyer entitled to damages if he did not know that the property belonged to another. However, the current solution under French law is the result of a long process of interpretation that went through several stages. We will begin by presenting the conditions that must be met in order to be in the presence of a sale of another's property, on which occasion we will deal with the regime of sales affected by the terms, as well as the hypotheses in which such a contract can still lead to an acquisitive effect in favour of the buyer. Later, we will present the proposals and arguments regarding the sanction - absolute or relative nullity. Given the fact that both from a scholar and a case law point of view, the latter should be imposed, we will advance by identifying the persons entitled to invoke it, the persons who may not invoke it and the conditions under which it can be covered. Finally, we will analyse the draft amendment to art. 1599 of the French Civil Code, which consolidates the traditional solution, and how the text influenced other institutions, such as the bequest of another's property or the gage of another's property. [ABSTRACT FROM AUTHOR]

Following the Second Vienna Award, in possession of the general authorisation of the Parliament, the Hungarian Royal Government adopted several decrees in order to extend the scope of Hungarian private law to the regions concerned. At first the scope of the law of real estate was extended by Decree No. 1440/1941. In Section 6 the legislator provided the right for those who alienated their immovable properties during the period of the Romanian supremacy to request in integrum restitutio, in a measure through the deletion of the current owner's right of ownership. The court could also uphold the application if the transaction concluded under a compulsive action of a Romanian authority threatening with damage and serving the interests of the party that acquired the right or other official direct or indirect coercion or the threat of procuring it. After the analysis of the available judgments found in the Hungarian National Archives, it is ascertainable that the courts did not interpret the above-mentioned conditions consistently, therefore they could not always choose the appropriate one of them. Despite that, cancellation from land registry was ordered in most cases in which the owner was forced to alienate his/her immovable property under some kind of duress or coercion of an authority. Although the Decree was in force until the Romanian reoccupation and the system of private property was altered extremely in the communist regime, the lessons of the judicial practice of the discussed decree should get attention.Following the Second Vienna Award, in possession of the general authorisation of the Parliament, the Hungarian Royal Government adopted several decrees in order to extend the scope of Hungarian private law to the regions concerned. At first the scope of the law of real estate was extended by Decree No. 1440/1941. In Section 6 the legislator provided the right for those who alienated their immovable properties during the period of the Romanian supremacy to request in integrum restitutio, in a measure through the deletion of the current owner's right of ownership. The court could also uphold the application if the transaction concluded under a compulsive action of a Romanian authority threatening with damage and serving the interests of the party that acquired the right or other official direct or indirect coercion or the threat of procuring it. After the analysis of the available judgments found in the Hungarian National Archives, it is ascertainable that the courts did not interpret the above-mentioned conditions consistently, therefore they could not always choose the appropriate one of them. Despite that, cancellation from land registry was ordered in most cases in which the owner was forced to alienate his/her immovable property under some kind of duress or coercion of an authority. Although the Decree was in force until the Romanian reoccupation and the system of private property was altered extremely in the communist regime, the lessons of the judicial practice of the discussed decree should get attention. [ABSTRACT FROM AUTHOR]

The article discusses both a simpler dynamic model of a product market (referred to as the «web-like model») and a modified version of this model where sellers set the market price. These dynamic models are described using discrete firstorder difference equations and systems of difference equations. The study focuses on the importance of understanding dynamic market models for certain products, particularly the web and web-like market models with training, which are examined in the article. Based on certain assumptions (described further in the article), a Valsar interpretation of these models is provided: the market is regulated by an auctioneer who initially announces the product price, and then buyers and sellers execute agreements and communicate the results to the auctioneer in terms of supply and demand volumes. If the agreements are found to be imbalanced, the auctioneer adjusts the price in an attempt to restore market equilibrium. Final agreements are made once equilibrium is reached. The article considers cases where the initial point coincides or does not coincide with equilibrium, and analyzes the price and production volume trends in these scenarios. A formula is derived that determines the trajectory of price changes in the «spider model», indicating that the market price will fluctuate around the equilibrium price Additionally, a modifi cation of the simpler spider-like model is discussed, where sellers determine the market price by focusing on a weighted average value between demand and supply from the previous period. Similar to the web model, the equilibrium price is found. The article investigates the case when the initial point does not coincide with equilibrium and examines the trends of prices and production volumes in this scenario. Diff erent types of models are presented, and the properties of general solutions of diff erence equations and systems of diff erence equations that describe the web-like model and its modifi cation are analyzed [ABSTRACT FROM AUTHOR]

Copyright of Revista Ciencia y Tecnología Agropecuaria is the property of Agrosavia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The institution of "legal action" finds legal regulation in the Civil Code: "Legal action is the legal manifestation of the will of a natural or legal person that aims to create, change or extinguish civil rights and obligations". Legal actions can be considered as manifestations of the will to achieve certain goals, the legal consequences of which consist in the creation, change or extinction of legal situations, through which the autonomy of subjects is realized in private law. The sale contract, as one of the types of legal actions, is one of the most used contracts in civil circulation, with which the majority of commercial actions and civil legal actions are performed. Sales contracts, in not a few cases, are the cause of many problems, the object of conflicts that are dealt with and that require solutions in different legal ways. In this paper, through the theoretical treatment, supported by the literature review, we will try to present the meaning of the sales contract, its features and elements according to the Albanian legislation. [ABSTRACT FROM AUTHOR]

Copyright of Contemporary Accounting Research is the property of Canadian Academic Accounting Association and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The study that we will undertake is going to capture a comparative analysis of the aspects related to the vices of consent (error and fraud) and hidden vices. In practice, in the case of a sales contract, the same situation can be classified both in the category of hidden vices and in the category of consensual vices (error or fraud). So, the problem that arises in such cases is: can the buyer opt either for the liability action for hidden vices, or for the nullity in action for error or fraud, or is he obliged to promote only one of them? Specifically, the research aims to highlight the possibility that a circumstance can be qualified simultaneously as both a hidden vice and a vice of consent, also providing clarifications for the practical solution of this situation. [ABSTRACT FROM AUTHOR]

Hybrid marketplaces, such as Amazon's and Zalando's stores or Apple's and Google's app stores, which distribute their own products and services in competition with those of third‐party sellers, play a significant and growing role in the Internet economy. This paper shows that, other things equal, such platforms would maximize their profits if they lowered the fees charged to sellers and the prices charged to consumers in response to cooperation agreements between third‐party sellers: horizontal mergers or collusive agreements. It also shows that such cooperation can be pro‐competitive when the platform is a vertically integrated gatekeeper, adopts the agency business model, is a close competitor to the third‐party sellers it hosts, and observes (or correctly anticipates) the third‐party sellers' agreement. The discussion here is of significant policy relevance, since third‐party sellers in online marketplaces may find it easier to collude and may respond to the bargaining power of certain gatekeeper platforms by merging their activities. [ABSTRACT FROM AUTHOR]

With the enactment of Directive 2019/770 on Contracts for the Supply of Digital Content and Digital Services and Directive 2019/771 on Sale of Goods a new distinction in EU consumer law has emerged. The supply of digital content or digital services, whether they are being provided via tangible carrier or not, falls under the scope of Directive 2019/770 whereas the sale of goods with digital elements, also known as smart goods, is regulated by Directive 2019/771. Both Directives establish rules regarding the conformity of performance, the remedies of the consumer in case of non-conformity, and the preconditions of these remedies. Even though the Directives overlap extensively in the solutions they offer, they nevertheless diverge on certain points. Hence, it becomes crucial to differentiate correctly between their subject matters. After outlining the content of both Directives, the article tries to develop some guidelines for such demarcation. [ABSTRACT FROM AUTHOR]

Non-fungible tokens ("NFTs") have ushered in a novel era of creative expression and ownership, but with their introduction comes an array of unprecedented legal issues. Neither traditional copyright nor property law conforms to NFT creator or purchaser expectations, and these conflicting expectations hamper the efficiency of NFT sales. Authors of original works may be unprotected from purchasers subsequently minting NFTs from those original works, and NFT purchasers will often be without remedy should an NFT creator mint multiple, substantially similar NFTs from the same underlying asset. NFT purchasers face an additional information hurdle that hampers their ability to negotiate efficiently. Namely, contrary to most mainstream media coverage, NFT ownership does not correlate to a proprietary interest in the NFT's underlying asset. Smart contracts are often touted as the preeminent solution to this efficiency quandary, but they do little to lower the transaction costs associated with the information asymmetry between NFT creator and purchaser. Further, while smart contracts are an efficient mechanism to implement the NFT's terms of sale, they are ill-equipped to equalize an unbalanced negotiating process. An NFT Creative Commons parallel ("NFT CC") is the solution to these issues. With an NFT CC, creators would be able to affix established NFT CC licenses to their NFTs, pre-sale. These licenses would define, and readily convey, the NFT creator's and purchaser's legal rights in the NFT and its underlying asset and would allow for a more informed and efficient negotiating process. The licenses could range from full copyright transfer, to no copyright transfer, to more moderate "reciprocal ongoing licensing transfers" ("ROLTs"), which would enable NFT creators and purchasers to share ongoing copyright interests in the NFT. The NFT CC licenses' transparency would fundamentally lower NFT transaction costs by remedying the negotiating parties' information asymmetry. Injecting clarity and predictability into NFT transactions would not only augment the NFT market but would also protect NFTs' viability as an emerging asset class worthy of investment in the long term. [ABSTRACT FROM AUTHOR]

The author underlines the importance of linguistic competencies and of encyclopedic knowledge for the translation of Common Law sales contracts. Based on the principles of the Interpretive Theory of Translation and emphasizing its relevance and originality in the field of Translation Studies, the paper states that translation is a cognitive act, whose success depends on specific mechanisms implemented by the translator. Translating means interpreting the original meaning and constantly resorting to the cognitive context and baggage, as illustrated in the applicative section of the paper.

The article provides update on developments on Article 2 of the Uniform Commercial Code (UCC) on sales of goods and contracts for the future sales of goods. Topics discussed are statute of frauds, contract formation, modification and waiver, contract or contract clause that is unconscionable, warranties including privity of contract, title to goods, creditors and good faith, performance and breach of contract, sellers's and buyer's remedies, and statute of limitations for breach of contract.

Copyright of Internationales Handelsrecht is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)