penalty clause or liquidated damage which is formerly agreed between parties is legally examined and accepted as a rule. although judge could in some circumstances modify this stipulation. yet its economic analysis which is focused on economic efficiency can be considered as a “major unexplained puzzle in the economic theory of law”. this article compares the major legal systems in the case of ...

a contractual relationship is commonly based on statements, expectations, acts and omissions out of which some will, and others will not, give rise to contractual obligations. to avoid uncertainty as to what is agreed, the contract parties often enter into a written contract that is supposed to express the final agreement between them and prevent the parties from relying on rights and obligatio...

in various legal systems, with adoption of the validity of exclusion clause as a rule, in the exceptional instances for the reason of social importance of the matter and contrary to the public policy, exclusion clause is void. thus, in the case of death; bodily injuries; deliberated breach of contract or legal duty ;gross negligence and deception imputed to party relying to exclusion clause, it...

in state-investor dispute, investor tends that umbrella clause transfers all contractual claims to treaty claims. by contracts, state follows narrow interpretation of this clause. up to ilc articles, establishing of responsibility of state for breach of contract requires tow preconditions. first state is merely responsible when state condoct has been of governmental nature and second is that br...

This study aims to present an accessible model of some frequent nonfinite adverbial types occurring in English prose fiction. As its main syntactic argument, it recognizes that these adverbials are mostly elliptical in that there are some dependent-clause markers one can assume to be implicit when supplying those elements back into the clause complex. Some comments are provided at the end on th...