This paper discusses how model checking, a technique used for the verification of behavioural requirements of dynamic systems, can be usefully deployed for the verification of contracts. A process view of agreements between parties is taken, whereby a contract is modelled as it evolves over time in terms of actions or more generally events that effect changes in its state. Modelling is done wit...

There are many franchise businesses, one of which was researched in this writing is the "Choco Latte" beverage franchise. In study try to see whether agreement including Franchise as stipulated Government Regulation Number 42 2007 concerning Franchising and how rights obligations parties referred contract. The approach method used socio legal. Based on results study, Choco Latte contract franch...

This paper analyzes bilateral contracting in an environment with contractual incompleteness and asymmetric information. One party (the seller) makes an unverifiable quality choice and the other party (the buyer) has private information about its valuation. A simple deterministic exit option contract, which allows the buyer to refuse trade, achieves the first–best in the benchmark cases where ei...

This paper analyzes bilateral contracting in an environment with contractual incompleteness and asymmetric information. One party (the seller) makes an unverifiable quality choice and the other party (the buyer) has private information about its valuation. A simple exit option contract, which allows the buyer to refuse trade, achieves the first–best in the benchmark cases where either quality i...

Standard economic models of contract imply that contracts should be highly “complex,” by which we mean (1) rich in the expected number of payoff-relevant contingencies; (2) variable in the magnitude of payoffs contracted to flow between parties; and (3) severe in the cognitive load necessary to understand the contract. Yet most realworld contracts are simple along all three of these dimensions....

Objective One of the most controversial issues related to human embryo is to determine the moment when the embryo is considered as a human being and acquires a moral status. Although personhood and moral status are frequently touched upon in medical ethics, they are considered interdisciplinary as concepts shaping the debate in Medical Law (Fiqh) since their consequences are influential in the ...

In B2B contract enactment, cooperation should be taken into account when modeling contractual commitments through obligations. We advocate a directed deadline obligation approach, taking inspiration on international legislation over trade procedures. Our proposal is based on authorizations granted in specific states of an obligation lifecycle model. Flexible deadlines provide an additional leve...

in the context of international trade factoring as one of the important ways of financing, is a dominant method of asset based financing for small and medium enterprises. financing through factoring be done in the form of a contract between the creditor and factor, and determining the legal nature of this contract is important to identify and determine its effects. with this regard, this paper ...

We introduce the concept of poaching, the risk that in any contractual relationship information that is transferred between parties for purposes specified in the contract will deliberately be used by the receiving party, for purposes outside the contract, to its own economic benefit, and to the detriment of the party that provided the information. We argue that this form of transaction risk, a ...