The trust in Spanish and Italian private international law Part II

This is the concluding part of the Article of which the firstpart appeared in the (September QUERY FOR OXFORD) issue of Trusts& Trustees and which dealt with the position of trusts underItalian conflict of law. This second part examines the positionunder Spanish conflict of law rules and the impact that theHague Convention might have on it.     

Trusts in American law and some of their substitutes in Spanish law: Introduction and Part I

This article describes how trusts are used in American law andhow Spanish law provides similar facilities for investors. Thearticle is in two parts. The first part examines, from a USpoint of view, the principal uses of trusts and the second partwill describe aspects of Spanish law that provide similar facilitiesfor investors before concluding that none of the tools availablein Spanish law fulfil all the functions of trusts and that theintroduction of a trust law into Spanish law would not be simple.     

Trusts in American law and some of their substitutes in Spanish law: Part II

The first part of this article examined, from a US point ofview, the principal uses of trusts and now this second partdescribes aspects of Spanish law which provide similar facilitiesfor investors, before concluding that none of the tools availablein Spanish law fulfil all the functions of trusts and that theintroduction of a trust law into Spanish law would not be simple.     

WTO与中国国际私法司法解释

法律全球化的趋势及我国入世时的承诺要求我国国内的法律制度必须与WTO规则相衔接。由于我国国际私法的立法是计划经济体制的产物,严重滞后于国际民商事法律关系的需要和时代的发展,再加上目前还不能从根本上解决国际私法的立法问题,因此在涉外民商事审判实践中,有关司法解释处于独特的地位。本文在对我国国际私法司法解释的价值及其存在的问题进行分析的基础上,提出了完善我国国际私法司法解释体制的建议。     

The idea of a trust in Zoroastrian law

There is hardly any legal institution which better characterizes the thinking and everyday practice of the common law family than the legal institution of the trust. The English common law developed it during the Middle Ages, and it remains popular to this day. The institution of the trust is a unique phenomenon of the common law. Surprisingly, the Zoroastrian community of the Sassanian period in Persia developed some legal techniques which are very close to the common law trust. In this paper I will show the peculiarities and history of what I call the Zoroastrian trust, and hope to establish the basic similarity between the two. What makes this comparison easier is the fact that the two legal institutions developed independently from each other, since there is no possibility of historical interactions between Sassanian Persia (third–seventh centuries AD) and England during the Middle Ages. It is also impossible to speak about common or similar religious, cultural and legal backgrounds.     

The status of the extracorporeal embryo in German law (Part I).

The legislator, in the German Federal Republic, has opted for a specific legal solution in relation to the protection of the embryo. Carola Müller, in this article, describes this regulation as well as the reasons that have led to its adoption. The article finishes with an exposition of the existing social discussion in German society and the effect that the law has had.     

How to build European private law: an economic analysis of the lawmaking and harmonization dimensions in European private law

In the process of building a European Private Law, the lawmaking and harmonization dimensions??the modes of harmonization and even more, the scope and reach of the harmonizing effect of the European rules- appear as crucial issues. We show how the harmonization strategy is as important a question as whether we should have European Private Law at all. We present an economic discussion of the different modes of harmonizing Private Law in the abstract, and how they are likely to differently affect outcomes. We also present in informal terms a simple economic model of how to build optimal harmonized rules and standards in a setting of pre-existing separate and diverse national ones, and we systematically explore how the different harmonization regimes (maximum harmonization, minimum harmonization, and pure co-existence of harmonized and national standards) affect the outcomes of the harmonization process.     

Autonomy and private ordering in contract law

This essay reviews Michael J. Trebilcock's book,The Limits of Freedom of Contract (Cambridge, MA: Harvard University Press, 1993), examining crucial and controversial social issues within the rigorous framework of the law and economics of contract. The idea that private markets are the primary institutions for the allocation of limited resources is central to any private ordering model of contract law. Yet such a premise leaves a number of fundamental questions unanswered. Trebilcock is critical of the insufficiency and ambiguity of current contract theory in addressing fundamental legal issues relating to the limits of freedom of contract. Pushing the frontiers of current legal theory, Trebilcock revisits the slippery notion of freedom of contract and tests the actual reach of economic analysis in providing a coherent answer to compelling social questions. The author pursues his ambitious task by examining the conclusions reached by competing paradigms of analysis. In spite of his declared trust in the economic approach to law, Trebilcock pays close attention to alternative analytical traditions, comparing the conclusions of various intellectual perspectives with those suggested by an economic framework of private ordering. The book objectively examines strengths and weaknesses of competing views, affording the reader a balanced position from which to conclude for herself, by illustrating the practical implications of the various approaches. In a number of instances, Trebilcock shows how different theoretical premises may indeed be conducive to similar institutional outcomes.Associate Professor of Law, George Mason University. The support of the Sarah Scaife Foundation and of the John M. Olin Foundation is gratefully acknowledged, as are the helpful comments of Jonathan C. Harris and Charles K. Rowley. Extensive remarks received from Michael J. Trebilcock prior to publication allowed me to remedy earlier omissions.     

The Bahamas: New legislation to accommodate private trust companies ('PTCs')

The existence of private trust companies in the jurisdictionhas, in recent years, become an important factor in attractingclients to that jurisdiction. Although private trust companiesare not a new idea, they have been frequently restricted tothose with a high minimum capital which has not made them worthwhilefor some trusts. The attraction of a PTC is that the settlor can establish hisown trustee as a separate legal person and thereby, probablyin conjunction with beneficiaries, enjoy more involvement inthe trust's administration. The representation of the settlorsand beneficiaries on the board of the directors of the PTC shouldavoid many of the conflicts which might arise between settlorsand beneficiaries and the trustees.     

The challenge and imperative of private sector cybersecurity: An international comparison

Attacks on computers and information networks, both public and private, are disclosed in the news daily. Most recently, Apple, Facebook, and Twitter acknowledged that they were attacked and were now taking additional measures to secure their networks. In January of 2013, Kaspersky Labs reported discovering malware that not only targeted government information in Eastern Europe, former Soviet republics, and Central Asia, but also had been actively doing so since 2007. The scope of global cyber attacks is staggering and the solutions to securing property and protecting national security are illusive, in large part because infrastructure is owned and operated by private, rather than public, entities. Nations struggle with choosing the most effective strategy and potential regulation of the private sector in order to reduce overall cybersecurity risk. This paper reviews the nature of cyber threats, and compares the United States and European approach to promoting cybersecurity in the private sector. Furthermore, the paper discusses how different approaches can affect cybersecurity risk, and suggests a framework for visualizing the impact of law and strategy on security.