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Author: Michael Schillig Publisher: ISBN: Category : Languages : en Pages :
Book Description
Directive 93/13 on unfair terms in consumer contracts has often been described as one of the most important European instruments in the area of consumer contract law. Currently the Directive is being assessed as part of the Commission's Review of the Consumer Acquis. Despite a comparatively large amount of case law, the Court has refused to develop a substantive minimum standard of fairness and consumer protection. Given the widely held view that the underlying rationale of the Directive is to correct the 'inequality of bargaining power' between business and consumers, this can only be a disappointment. Alternatively, the Directive can be analyzed as an instrument to tackle a form of market failure in respect of contract terms similar to what Akerlof has described as a 'market for lemons'. This approach is better able to accommodate the regulatory framework provided by the Directive as well as the Court's case law. Consequently, the current paradigm of 'inequality of bargaining power' should be replaced by the 'market for lemons' approach. This will have implications for the future development of standard contract terms legislation at the European level.
Author: Michael Schillig Publisher: ISBN: Category : Languages : en Pages :
Book Description
Directive 93/13 on unfair terms in consumer contracts has often been described as one of the most important European instruments in the area of consumer contract law. Currently the Directive is being assessed as part of the Commission's Review of the Consumer Acquis. Despite a comparatively large amount of case law, the Court has refused to develop a substantive minimum standard of fairness and consumer protection. Given the widely held view that the underlying rationale of the Directive is to correct the 'inequality of bargaining power' between business and consumers, this can only be a disappointment. Alternatively, the Directive can be analyzed as an instrument to tackle a form of market failure in respect of contract terms similar to what Akerlof has described as a 'market for lemons'. This approach is better able to accommodate the regulatory framework provided by the Directive as well as the Court's case law. Consequently, the current paradigm of 'inequality of bargaining power' should be replaced by the 'market for lemons' approach. This will have implications for the future development of standard contract terms legislation at the European level.
Author: Felix Pflücke Publisher: Oxford University Press ISBN: 0198906404 Category : Law Languages : en Pages : 252
Book Description
European Consumer Law has adapted and evolved in response to the rapid growth of e-commerce in the last two decades. Compliance with European Consumer Law: The Case of E-Commerce examines the evolving legal framework at the EU and national levels - from mandatory disclosures to unfair contract terms - and analyses the extent to which scientifically grounded evidence or theories underpin these legislative choices. At the heart of the book lies an original, data-driven inquiry assessing compliance among e-commerce traders with consumer protection rules. The empirical analysis investigates whether 300 traders from four jurisdictions (France, Germany, the Netherlands, and the United Kingdom) comply with their legal duties and identifies reasons for non-compliance. It translates the evidence of previously undiscovered non-compliance patterns into targeted and actionable policy recommendations, presenting a significant new interpretation of the regulatory landscape. Compliance with European Consumer Law offers a unique, analytical perspective and contributes to a deeper understanding of e-commerce regulation. Innovative and engaging, this book advocates for a more evidence-driven approach within European Consumer Law aimed at strengthening the effectiveness of the rules and fostering trader compliance.
Author: James Devenney Publisher: Cambridge University Press ISBN: 1107470986 Category : Law Languages : en Pages : 351
Book Description
This book emanates from a duo-colloquium which explored the Europeanisation of private law in the context of efforts to consolidate the consumer acquis, the Draft Common Frame of Reference, the appointment of an Expert Group on a Common Frame of Reference in the area of European contract law, the passage of the Consumer Rights Directive and the proposed Common European Sales Law. This book, with fully updated contributions, critically reflects on whether the process of Europeanisation, which has shaped private law in the EU Member States, has now reached a significant turning point in its development, a point of punctuated equilibrium. Written by a team of leading authors, the topics covered will be of concern in all European legal systems and beyond.
Author: Jonathan Hardman Publisher: Taylor & Francis ISBN: 1040131603 Category : Law Languages : en Pages : 259
Book Description
Agency theory is ubiquitous in company law. This book explores (a) the limits of such deployment, and (b) the logic of how to deploy it. The book makes five linked arguments in respect of the limits of agency theory in company law. First, it argues that agency theory has become so broad that it can be used to analyse most human relationships. Such breadth, though, comes at the expense of legal clarity: as agency relationships cover such a broad range of relationships, there are no normative legal conclusions that can be drawn merely from identifying such a relationship. Second, it argues that we need to differentiate more specific concepts with clearer legal implications, such as externalities, and the particular manifestation of moral hazard that appears in insurance dynamics. Third, it argues that considerable amounts of existing company law theory - which is ostensibly built from agency theory - is in fact based on a series of hidden value judgments at each stage of the analysis. Fourth, it argues that company law theory should use agency theory less to rebalance the discipline: agency theory has become hegemonic, which is dangerous for the discipline, obscures company law’s role in establishing incentives, undermines accountability, and reduces company law’s autonomy. The book then moves to the logic of agency theory and makes three arguments. First, it argues that we need to factor in the company, only apply agency theory to voluntary interactions, and foreground our value judgments when identifying agency relations to do it properly. Second, it argues that it is rational to incur agency costs when we perceive the benefits of doing so to outweigh the costs, meaning that agency costs can be facilitative and we should look to front-end them rather than universally minimise them. Third, it argues that this needs to be undertaken through mandatory laws. Exploring the external limits and internal logic of agency cost analysis, this book will be of interest to academics, students, and researchers of corporate and company law.
Author: Sarah Brown Publisher: Edward Elgar Publishing ISBN: 1784712493 Category : Law Languages : en Pages : 256
Book Description
This incisive book gives a comprehensive overview of the regulation of consumer credit in both the US and the UK. It covers policy, procedure and the dynamics of the consumer credit relationship to advocate for a balanced approach in achieving more effective consumer protection.
Author: The Core Team Publisher: Oxford University Press, USA ISBN: 9780198849841 Category : Economic policy Languages : en Pages : 0
Book Description
Economy, Society, and Public Policy is a new way to learn economics. It is designed specifically for students studying social sciences, public policy, business studies, engineering and other disciplines who want to understand how the economy works and how it can be made to work better. Topical policy problems are used to motivate learning of key concepts and methods of economics. It engages, challenges and empowers students, and will provide them with the tools to articulate reasoned views on pressing policy problems. This project is the result of a worldwide collaboration between researchers, educators, and students who are committed to bringing the socially relevant insights of economics to a broader audience.KEY FEATURESESPP does not teach microeconomics as a body of knowledge separate from macroeconomicsStudents begin their study of economics by understanding that the economy is situated within society and the biosphereStudents study problems of identifying causation, not just correlation, through the use of natural experiments, lab experiments, and other quantitative methodsSocial interactions, modelled using simple game theory, and incomplete information, modelled using a series of principal-agent problems, are introduced from the beginning. As a result, phenomena studied by the other social sciences such as social norms and the exercise of power play a roleThe insights of diverse schools of thought, from Marx and the classical economists to Hayek and Schumpeter, play an integral part in the bookThe way economists think about public policy is central to ESPP. This is introduced in Units 2 and 3, rather than later in the course.
Author: Christian Twigg-Flesner Publisher: Cambridge University Press ISBN: 1107493978 Category : Law Languages : en Pages : 381
Book Description
The emergence of EU Private Law as an independent legal discipline is one of the most significant developments in European legal scholarship in recent times. In this 2010 Companion, leading scholars provide a critical introduction to the subject's key areas, while offering original and thought-provoking comment on the field. In addition to several chapters on consumer law topics, the collection has individual chapters on commercial contracts, competition law, non-discrimination law, financial services and travel law. It also discusses the wider issues concerning EU Private Law, such as its historical evolution, the role of comparative law, language and terminology, as well as the implications of the Common Frame of Reference project. A useful 'scene-setting' introduction and further reading arranged thematically make this important publication the student's and scholar's first port of call when exploring the field.
Author: H. W. Micklitz Publisher: Edward Elgar Publishing ISBN: 0857935895 Category : Law Languages : en Pages : 489
Book Description
'Does European regulatory private law offer a genuine model of justice for society? Beyond its initial libertarian focus on economic integration through the market citizen, might it now serve the social inclusion of the vulnerable? In the wake of Hans Micklitz's inspired and relentless pursuit of meaning within the ongoing constitutionalization of private law relationships, this rich collection explores the implications of new, specifically European, forms of access rights, which ensure (horizontally and vertically) enforceable and non-discriminatory opportunity for market participation.' Horatia Muir Watt, Columbia Law School, US This insightful book, with contributions from leading international scholars, examines the European model of social justice in private law that has developed over the 20th century. The first set of articles is devoted to the relationship between corrective, commutative, procedural and social justice, more particularly the role and function of commutative justice in contrast to social justice. The second section brings together scholars who discuss the relationship between constitutional order, the values enshrined in the constitutional order and the impact of constitutional values on private law relations. The third section focuses on the impact of socio-economic developments within the EU and within selected Member States on the proprietary order of the EU, on the role and function of the emerging welfare state and the judiciary, as well as on nation state specific patterns of social justice. The final section tests the hypothesis to what extent patterns of social justice are context related and differ in between labour, consumer and competition law. The Many Concepts of Social Justice in European Private Law will prove to be of great interest to academics of law, as well as to private lawyers and European policymakers.
Author: Katharina Steinbrück Publisher: Nomos Verlag ISBN: 3748926553 Category : Law Languages : en Pages : 428
Book Description
Dem britischen Gesetzgeber eröffnen sich durch den weitgehenden Wegfall von Bindung an EU-Recht im Verbraucherrecht neue regulatorische Möglichkeiten. Dieses Werk widmet sich der Frage, ob Normen des bisher von der EU bestimmten Verbraucherkredit- und AGB-Rechts beibehalten oder geändert werden sollten. Eine historische Analyse beantwortet die Frage, inwieweit EU-Recht in der Vergangenheit durch das Vereinigte Königreich gestaltet und rezipiert wurde. Auf Grundlage einer umfassenden rechtsvergleichenden Betrachtung wird zudem analysiert, ob alternative europäische Kooperationsmodelle mehr regulatorischen Freiraum bieten und die (Nicht-) Umsetzung von Verbraucherrecht als Vorbild für neue Regulierung im Vereinigten Königreich dienen könnte.
Author: Diane Bugeja Publisher: Bloomsbury Publishing ISBN: 1509925880 Category : Law Languages : en Pages : 249
Book Description
The spate of mis-selling episodes that have plagued the financial services industries in recent years has caused widespread detriment to investors. Notwithstanding numerous regulatory interventions, curtailing the incidence of poor investment advice remains a challenge for regulators, particularly because these measures are taken in a 'fire-fighting' fashion without adequate consideration being given to the root causes of mis-selling. Against this backdrop, this book focuses on the sale of complex investment products to corporate retail investors by drawing upon the widespread mis-selling of interest rate hedging products (IRHP) in the UK and beyond. It brings to the fore the relatively understudied field concerning the different degrees of investor protection mechanisms applicable to individual retail investors – as opposed to corporate retail investors – by taking stock of past regulatory reforms and forthcoming regulatory initiatives as well as, more importantly, the conclusions reached by the judiciary in IRHP mis-selling claims. The conclusions are particularly interesting: corporate retail investors are in a vulnerable position when compared to individual retail investors. The former are exposed to a heightened risk of mis-selling, meaning that regulatory intervention should be targeted accordingly. The recommendations made as a result of these findings are further supported by insights emerging from behavioural law and economic theories. This book is aimed at researchers, lawyers and students with an interest in the financial regulation field who are keen to explore potential regulatory reforms to the investment services regime that address the root causes of mis-selling, and restore a level playing field amongst all retail investors.
Author: Michael Schillig
Author: Michael Schillig
Author: Felix Pflücke
Author: James Devenney
Author: Jonathan Hardman
Author: Sarah Brown
Author: The Core Team
Author: Christian Twigg-Flesner
Author: H. W. Micklitz
Author: Katharina Steinbrück
Author: Diane Bugeja