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As with any group endeavor, joint ventures and partnerships are inherently prone to misalignment, deadlock, and disputes, given the constant evolution of partner strategies, interests, and constraints. Ideally, JV contractual agreements would be structured to manage those misalignments as they emerge, but the typical JV agreement utilizes boilerplate dispute resolution language without considering a fulsome slate of contractual paths to creatively prevent, de‐escalate, or resolve such misalignments. This article offers a range of practical insights, benchmarks, and contractual terms to better manage misalignment in JVs, leveraging the authors' analysis of dispute‐related terms in 137 JV agreements and experience working on hundreds of JV and other partnership transactions around the world.

Contracts are constituted by their terms. The concept of a term has not received any theoretical attention. I present an analysis arguing that there are important normative reasons to attend to the conceptual analysis: unsound ideologies can be rooted out and the debate on contractual interpretation can be put on a surer foundation.

The increasing request for food sustainability is affecting the pasta sector in Italy. This phenomenon introduces different sources of uncertainties that, in turn, put pressure on all the stages of the supply chain, with a consequent emerging need for a higher level of coordination. Based on the Transaction Costs Theory approach, the paper is aimed at verifying whether contract design—revolving around the negotiation of contractual attributes with different functions in terms of safeguard, adaptability, and coordination—plays a crucial role in aligning sources of uncertainty surrounding transactions with the allocation of property and decision rights. To this aim, a sample of durum wheat producers is interviewed for expressing their preferences about some contractual features, such as price, production and quality rules, sustainable environmental techniques, and advisory services. Using a discrete choice analysis through a multinomial logit model, results reveal that, thanks to the presence of attributes able to ensure coordination and adaptability, contracts are able to steer towards elements of sustainability related to food quality and safety, whereas further efforts are needed to share environmental goals with farmers.

It has become increasingly certain that the success of e-commerce in any country depends mainly on the predictability and suitability of the legal framework and whether such framework copes sensibly with the needs of online consumers. For e-commerce to reach its full potential, consumers must have effective protection when shopping online, and their primary rights must be adequately protected. This paper thus explores the way in which the Electronic Transactions Law deals with such rights and determine whether or not this law gives due attention to consumer protection in an online environment. Furthermore, this paper encourages debate of what such law should be in order to enhance legal certainty as well as increase trust in e-commerce in Jordan. This paper, however, is not intended to provide the final answer to all questions and challenges in this regard, but to identify the main components, and provide perspectives on how to deal with such issue.

Employment law is based partly on the law of contract but in modern times mainly on statutory rights. The law deals with the contract of employment, sick pay, absenteeism, notifying the employer of leave, right to suspend including medical suspension, changes in contractual terms, transfer of business, dismissal, and others. Statutory sick pay is payable to employees off sick for more than seven days on certification of unfitness to work by a GP, hospital doctor or allied health professional. An employee can make a claim for unfair dismissal if employed continuously for two years or more. Management cannot change the terms of contract such as introducing new working hours or payment systems or HIV tests, without the consent of each individual employee. The employer must have a fair reason for dismissing the employee and also follow a fair procedure.

This report assesses the potential of electricity contract auctions as a procurement option for the World Bank's client countries. It focuses on the role of auctions of electricity contracts designed to expand and retain existing generation capacity. It is not meant to be a 'how-to' manual. Rather, it highlights some major issues and options that need to be taken into account when a country considers moving towards competitive electricity procurement through the introduction of electricity auctions. Auctions have played an important role in the effort to match supply and demand. Ever since the 1990s, the use of long-term contract auctions to procure new generation capacity, notably from private sector suppliers, has garnered increased affection from investors, governments, and multilateral agencies in general, as a means to achieve a competitive and transparent procurement process while providing certainty of supply for the medium to long term. However, the liberalization of electricity markets and the move from single-buyer procurement models increased the nature of the challenge facing system planners in their efforts to ensure an adequate and secure supply of electricity in the future at the best price. While auctions as general propositions are a means to match supply with demand in a cost-effective manner, they can also be and have been used to meet a variety of goals.

Este artículo analiza algunas fuentes del derecho romano en materia de cláusulas en los contratos de arrendamiento de almacenes destinados a actividades comerciales. El problema principal es el de la prevalencia entre la cláusula de exoneración de responsabilidad prevista en las condiciones generales y su modificación por la tolerancia del administrador de los almacenes frente al depósito de objetos de valor.

Access to insurance, as part of a broad range of essential financial services, is especially important for poor households in order to smooth consumption, build assets, absorb shocks, and manage risks associated with irregular and unpredictable income. Without access to good formal insurance services, the poor depend on less reliable and often far more expensive informal sector mechanisms. Yet, in many majority Islamic countries, accessing and using insur-ance products has been quite limited, as many Muslims avoid such services over concerns about riba (interest), gharar (uncertainty and ambiguity in contracts), and maysir (speculative risk), among other factors. Takaful insurance products are emerging as a central part of the Shariah-compliant family of financial services, helping meet insurance needs in ways that are consistent with the local norms and beliefs of many majority Islamic countries. Takaful has been developing steadily since the first Shariah-compliant insurer was founded in 1979, based on a Shariah-compliant cooperative model resembling mutual insurance. This is based on a group of participants donating funds into a pool that members can then use in the event of specified unfavorable contingencies. While practitioners have applied varying business models and standardization remains a challenge, many policy makers recognize the potential of takaful to expand financial inclusion and have aimed to promote the industry with supportive legislation and effective regulation. The response has been strong, with premiums growing about 30 percent (inflation adjusted) annually between 2007 and 2010, reaching US$8.3 billion. This robust performance is expected to continue, based on substantial latent demand in Muslim majority countries and improvements in the industry, including better distribution capabilities.

Corruption is motivated by the possibility of securing something of value for oneself and ones allies. The desire to secure benefits is a human trait and generally positive for development; various forms of rewards drive humans to get up in the morning, do a good job, and act responsibly. The discussion now turns to the opportunity to secure more benefits than are entitled to within the existing rules of the game; specifically, the opportunity to grab at the expense of society. A decision maker has the authority to influence an outcome that matters to the briber. For steering a decision in the bribers direction, the decision maker is compensated with a bribe. The steered decision and the bribe now become assets that usually exceed what at least one of the players would have obtained without the corrupt act. The opportunity to seize assets through some form of power misuse differs across sectors, organizations, and decision-making situations. This chapter describes the circumstances in which the risk of corruption is particularly highin other words, where the drivers of corruption can be found.

The Consumer Contracts Directive addresses unfair terms in contracts between sellers or suppliers and consumers where consumers are defined as a natural person acting for purposes which are outside his trade, business, or profession. A contractual term is considered unfair if it has not been individually negotiated, and contrary to the requirement of good faith causes a significant imbalance to the detriment of the consumer. Where the definitions of terms are ambiguous they must be interpreted in the most favourable way for the consumer. To the extent that this is possible, contracts containing unfair terms remain binding, with the unfair terms removed. Avoiding those regulations by choosing a non‐EU jurisdiction shall be prevented, and consumer watchdogs and similar organisations can represent consumers in court, in particular in order to establish precedents.