Efficient Breach, Reliance and Contract Remedies at the WTO

Purpose - To propose a remedy of monetary damages for efficient trade agreement breaches within the World Trade Organization (WTO). Design/methodology/approach - Defines the concept of an efficient breach as one where breach of an obligation leads to more optimal allocation of resources than compliance with the obligation. Discusses WTO remedies and monetary damages for efficient breach, the expectation measure, the reliance measure, WTO violations as tort, and enforcement. Findings - The main remedies for WTO violations are non-monetary compensation and retaliation. However, the problems facing a doctrine of efficient breach are that the parties mainly injured by such breaches are private third party exporters rather than Member States, and that it is difficult to calibrate counterfactually a suitable remedy based on foregone trade. To overcome these problems, the proposed reliance-based monetary remedy would institute a periodic decreasing payment which corresponds to the out of pocket expenses incurred, in anticipation of liberalized trade, by exporters in the injured state. This quantifiable and verifiable method of assessing compensation is in harmony with the common law of contract and can be used to establish third-party contractual rights; it also has parallels in international law, which should encourage compliance with it, while WTO violations are similar to the law of tort, which typically uses a restorative remedy. Originality/value - The proposed method fulfils the WTO's Dispute Settlement Understanding's goal of predictability, and it is both fair and welfare maximizing

Cruise Report 70-S-5: Big Game Fish

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Settlement Agreements, Legal Information and the Mistake of Law Rule in Contract

The extent of the doctrine of contractual mistake of law is evaluated in light of the Court of Appeal’s decision in Brennan v Bolt Burdon through the lens of economic efficiency, the associated incentivization of productive information acquisition and contractual risk allocation. The Brennan court’s decision limits the relief available for claims of mistake grounded in unanticipated changes in the law to mistakes involving exceptional errors. In so doing it acknowledges the risk inherent in accepting contractual settlement offers as a matter of commercial risk taking which can be offset through express contractual limitation, subject to public policy concerns. The article considers the effects of such contractual risk allocation as well as the cost of dispelling ignorance to recommend a clarification of the scope of the mistake of law. This rule is based upon the gains to be achieved from the underlying contract to the contractual parties as well advantages to society engendered by the dissemination of information about the law itself

Reliance Remedies at the International Centre for the Settlement of Investment Disputes

Examines situations in which the International Centre for the Settlement of Investment Disputes has awarded damages for the cost of the investment, which may be compared to the contract law concept of reliance damages. Notes that this measure of damages is often used where lost profits are difficult to calculate because of the speculative nature of the future investment

The International Bar Association and Trade in Legal Services: Meta Law-Making in International Economic Law?

This article presents the International Bar Association as a highly-influential but often overlooked non-state actor through the lens of its involvement in the standardization of Mutual Recognition Agreements (MRA)s for legal services. Not only do most MRAs contemplate the active involvement of professional bodies such as law societies and bar associations in their construction and monitoring, the IBA’s guidelines for MRAs inform the content of these agreements, facilitating the practice of international law by a more highly mobile profession. This in turn underpins the capacity of the community of international lawyers to exercise their technical expertise to influence other non-state actors, exemplifying what may be described as the IBA’s “meta-lawmaking” on the global stage. As there has been poor uptake of MRAs by developing countries, initiatives of the IBA could help establish mutual recognition for legal services in the developing world

Searches For Primeval Galaxies

A primeval galaxy represents the earliest stages of a galaxy's life and as such provides clues to the early history of the Universe and the evolution of stars and galaxies. Over the last 20 years astronomers have been engaged in the quest to detect the faint signals from these objects, believed to lie at a distance comparable with the size of the Universe. A wide variety of observational techniques have been employed in this search, with astronomers eagerly awaiting each new generation of astronomical telescope or detector in the hope of finally solving the mystery to the origin of galaxies -- or at least placing new and interesting constraints. Until recently, primeval galaxies have eluded detection in these searches, however experiments over the last couple of years which use either 10m-class optical telescopes or state-of-the-art submillimetre array detectors, may hold the clue to the origin of structure as they have finally uncovered what appears to be a widespread population of young galaxies.Comment: 17 pages, 5 figures. Paper to be published in Contemporary Physic

Ab initio lattice dynamics of nonconducting crystals by systematic fragmentation

A systematic method for approximating the ab initio electronic energy of crystal lattices has been improved by the incorporation of long range electrostatic and dispersion interactions. The effect of these long range interactions on the optimization of the crystal structure is reported. The harmonic lattice dynamics have been evaluated to give phonon frequencies and neutron scattering intensities. Exemplary results are reported for diamond, silicon, and α-quartz using Hartree-Fock, Möller-Plesset perturbation, and coupled-cluster levels of ab initio theory

Institutionalized Fact Finding at the WTO

This short article argues that the WTO should have a standing agency to conduct fact finding in order to correct evidentiary deficiencies in submissions by members to panels during dispute settlement. This will compensate for both the incapacity to produce full disclosure on the part of developing nations and the unwillingness to do so from other members due to strategic reasons or purposes of confidentiality. It is suggested that such an investigatory mandate could fit into the panels’ existing right to seek information or within the broad scope of powers granted tribunals in international law. Separation between fact finding and decision-making achieved by a specialized fact finding body would insure judicial impartiality and promote legitimacy

Earth science education in South Australia: Evolving with the resources boom

Copyright © 2007 AusIMM The document attached has been archived with permission from the publisher.Andreas Schmidt Mumm MAusIMM and Alan Collins, Geology and Geophysics, School of Earth and Environmental Sciences, The University of Adelaidehttp://direct.bl.uk/bld/PlaceOrder.do?UIN=206473720&ETOC=RN&from=searchengin

Illuminating and applying “The Dark Side”: Insights from elite team leaders

In contrast to socially desirable behaviors, recent work has suggested that effective elite team leadership also relies on socially undesirable behaviors. Accordingly, this study aimed to further explore the authenticity of dark side leadership behaviors, what they look like, and how they may be best used. Via interviews with 15 leaders, behaviors associated with Machiavellianism/mischievousness, skepticism, social dominance, and performance-focused ruthlessness were found. Moreover, these behaviors were enabled by leaders’ sociopolitical awareness and engineering as well as their adaptive expertise. Findings promote practitioner sensitivity to dark side leadership and, for leader effectiveness, sociopolitical and temporal features of its application