Principal (commercial law)

About: Principal (commercial law) is a research topic. Over the lifetime, 1579 publications have been published within this topic receiving 35379 citations. The topic is also known as: Principal (commercial law).

Teori agency dalam pemikiran organisasi ; pendekatan positivist dan principle-agen

Abstract: Agency theory has been used by researchers in accounting, economics, finance, marketing, political science, organizational behavior, and sociology. However, this theory is still surrounded by controversy. The purpose of this study is to describe the contribution of agency theory to organizations with a positivist and principalagent approach. This research method uses literature studies. The results of this study are agency theory giving two contributions specifically to organizational thinking. The first is the treatment of information. Organizations can intervene in information systems with the aim of controlling agent opportunism. The second is the risk implication. The organization is assumed to have uncertainty in the future. Results uncertainty combined with differences in willingness to accept risk will affect the contract between the principal and the agent. The idea of agency theory of risk, outcome uncertainty, incentives, and information systems is a new contribution to organizational thinking, and empirical evidence supports theory, especially when associated with complementary theoretical perspectives

The Dangers of Relying on a Legal List: A Case Study of the West Virginia Consolidated Investment Fund

Abstract: Since the mid 1970s, many local governments have begun using state-run local government investment pools for their cash management needs. Some pools operate under statutory limitations on investment instruments known as “legal lists,” other pools operate either under a “Prudent Person Rule” standard, while others use a combination of the two. This article examines the potential dangers of an investment pool relying too heavily upon a legal list fiduciary standard, by examining the West Virginia Consolidated Investment Fund, which lost nearly 25 percent of its principal in a financial scandal during the 1980s.

Free Access to Legal Information, LIIs, and the Free Access to Law Movement

Abstract: This book chapter describes and analyses the global development of free access to legal information since the mid-1990s, and particularly the group of ‘Legal Information Institutes’ (LIIs) that make up the Free Access to Law Movement.From the mid-1990s the world-wide-web provided the necessary technical platform to enable free public access to computerized legal information – a low cost distribution mechanism. In many countries the first attempts to exploit the advantages of the web for providing legal information came from the academic sector rather than government, and did so with an explicit ideology of free access provision. The first group of such organizations became known collectively as ‘legal information institutes’ or ‘LIIs’. Two distinguishing characteristic of the ‘LIIs’ are that (i) they publish legal information from more than one source (not just ‘their own’ information), for free access via the Internet, and (ii) they collaborate with each other through membership of the ‘Free Access to Law Movement’.Most but not all share three other characteristics. They collaborate through data sharing networks or portals, and also technical networks for back-up security purposes. Most are independent of government, though this is diminishing as a distinguishing feature. The majority use one of two open source search engines: the Sino search engine developed by AustLII and the Lucene search engine utilized by LexUM in the development of various LIIs.Three LIIs played key roles in early developments: the Legal Information Institute (Cornell), AustLII, and LexUM. They each developed from research projects on various aspects of legal automation going back to the 1980s, and were ready to capitalist on the world-wide-web’s sudden emergence into public prominence around 1994. Their roles are explained.From 2000 AustLII started to use its search engine and other software to assist organizations in other countries, initially limited to those with academic roots, to establish LIIs with similar functionality. AustLII helped to establish between 2000-04 servers and databases for six LIIs (BAILII, PacLII, HKLII, SAFLII, CyLaw and NZLII). It operated the servers for a period on behalf of its local partners, with progressive local take-over of operations. Responsibility for obtaining and developing legal data was usually undertaken by the local partner from the outset. Each of these LIIs is described. Having established CanLII, LexUM used the tools it had developed to create, with local partners, Droit Francophone (2003), JuriBurkina (2003) and JuriNiger (2007).The Free Access to Law Movement (FALM), established in 2002, is a loose affiliation of 33 legal information institutes as of March 2010. The ‘Law via Internet’ Conferences have since 1997 been the principal means by which this cooperation was established. The Declaration on Free Access to Law (2002) sets out FALM’s aims as ‘the primary role of local initiatives in free access publishing of their own national legal information’ and secondly that ‘All legal information institutes are encouraged to participate in regional or global free access to law networks’.The development of multi-LII portals since 2002 is described, particularly WorldLII, CommonLII and AsianLII, plus the LawCite citator, operated by AustLII in cooperation with twelve other LIIs. The Global Legal Information Network (GLIN), operated by the US Library of Congress, and by LexUM’s development of Droit Francophone, are also described. The number of databases provided by all of the LIIs of the Free Access to Law Movement has been growing rapidly ever since 2002, and amounted to 1190 databases in 2009.Different models for networking free access LIIs are discussed. The LII networks provided through WorldLII, CommonLII and AsianLII primarily utilise a replication/synchronization model, and differences within FALM on this strategy, compared with ‘federated searching’, are outlined. Various other policy differences within FALM are also discussed.The extent to which FALM is global is analyzed, including the role that ‘government LIIs’ can play in FALM. It is clear that there is far more free access to law than is provided by the current members of the Free Access to Law Movement. The geographical scope of FALM membership is nevertheless as yet far more limited than the spread of free access to law as an idea and a reality, being concentrated on the Anglophone and Commonwealth countries, some parts of the francophone, and parts of Asia. This is a challenge for a movement which is potentially global, but also indicates that the Free Access to Law Movement and the development of LIIs may yet be far from reaching its maximum impact. The extent of free access outside FALM is outlined.Reasons why impediments to full free access to law are decreasing are outlined, particularly in relation to copyright law and access to data. The extent to which FALM members have established standards for citations are discussed.The most concerted discussion of some of the principles in the Declaration on Free Access to Law, and further development of them, took place at an expert meeting called by the Hague Conference on Private Law in 2008, resulting in 18 draft Principles on desirable conduct of States in relation to free access to legal information. The relationship between LIIs and Internet search engines like Google, and why most LIIs block search engines from indexing their case law, are also discussed.

Shareholder Suits and Outside Director Liability: The Case of Korea

Abstract: Reforms to Korean corporate and securities law carried out in the wake of the 1997-1998 East Asian financial crisis included a mandate that boards include a minimum number of outside directors and facilitation of shareholder lawsuits against board members for damages. The strategy of imposing liability risk on directors (both inside and outside) appeared to follow U.S. practice. In the U.S., outside directors of public companies are often sued but rarely face personal, or “out-of-pocket,” liability unless they engage in self-dealing. Instead, damages and legal fees are paid by the company, directors' and officers' (D&O) insurance, or both. Outside directors of public companies in Australia, Canada, Britain, France, Germany, and Japan similarly rarely face out-of-pocket liability due to shareholder lawsuits. Moreover, when events have occurred in these countries that increase the risk of out-of-pocket liability, there is a strong tendency for political or market forces to reestablish a non-zero but minimal level of risk for actions that do not involve self-dealing. Korea’s experience seems to be similar. We argue that Korea could go somewhat further to encourage litigation against outside directors of public companies, but should not open the way for “out of pocket” liability to become commonplace. For a shorter, somewhat updated version of this article, see Black, Cheffins & Klausner, Shareholder Suits Against Korean Directors (2012), at http://papers.ssrn.com/abstract=913623. For the other principal pieces of our overall project on outside director liability, see: Black, Cheffins & Klausner, Outside Director Liability (Stanford Law Review, 2006), http://papers.ssrn.com/abstract=894921 Cheffins and Black, Outside Director Liability Across Countries, (Texas Law Review 2006), http://papers.ssrn.com/abstract=438321. Additional pieces of this overall project are: http://papers.ssrn.com/abstract=878135 (policy analysis) http://papers.ssrn.com/abstract=382422 (a pre-Enron and WorldCom version of Outside Director Liability) http://papers.ssrn.com/abstract=628223 (study of Korea) http://papers.ssrn.com/abstract=682507 (summary article for a finance audience) http://papers.ssrn.com/abstract=800584 (Germany-centered) http://papers.ssrn.com/abstract=800604 (German language version of Germany-paper) http://papers.ssrn.com/abstract=590913 (summary for practitioner audience)

Violence in Fascist Criminal Law Discourse: War, Repression and Anti-Democracy

Abstract: This article constructs a critical historical, political and theoretical analysis of the essence of Fascist criminal law discourse in terms of the violence that shaped and characterised it. The article examines the significance of violence in key declarations about the role and purpose of criminal law by Alfredo Rocco, Fascist Minister of Justice and leading ideologue, in his principal speech on the final draft of the 1930 Italian Penal Code. It is grounded on the premise that criminal law is particularly significant for understanding the relationship between State power and individuals, and so what was distinctive about Fascist thinking in this regard. The article analyses Rocco’s declarations as a discourse in order to highlight their contextual foundations, construction and ideological connections. It argues that the core theme of that discourse is violence, which has three principal dimensions: a close historical and rhetorical connection with war, a focus on repressive and intimidatory force, and a paramount concern with subordinating individuals to State interests. The article then uses this analysis to develop a theoretical reading of the nexus between criminal law and violence in Fascism, in terms of its foundations and reversal of ends and means. The article thus provides an original perspective on Fascism and criminal law, which it argues is important for critical engagement with criminal law discourse in our democracies today.