Commercial Transactions Research Articles

Legal Recognition of Electronic Signature in Commercial Transactions: A Comparison Between the Jordanian Electronic Transactions Law of 2015 and the United Arab Emirates Electronic Transactions and Trust Services Law of 2021

Legal Recognition of Electronic Signature in Commercial Transactions: A Comparison Between the Jordanian Electronic Transactions Law of 2015 and the United Arab Emirates Electronic Transactions and Trust Services Law of 2021

Development of Rotterdam Rules for Harmonisation of Legal Instruments based on Economic and Political Conditions of UNIDROIT for Renewable Energies of Carbon Emissions

Purpose: Commercial transactions have binding obligatory and regulations that are restricted within a particular jurisdiction. However, the bill of lading for international carriage of goods must be performed and exercised resulting to extension of executory principles based on International Commercial Contracts (UNIDROIT) with a particular focus of interest on renewable energies for corporate economic goals towards sustainable development. This paper aims to develop statutory interpretation, based on Rotterdam Rules, to show the relationship between waste to energy technology and sustainable development. This helps in illustrating environmental tax for carbon emissions of energy management based on life cycle of drugs.
 Methodology: Life cycle of drugs involves contractual agreements pertaining to sustainable development and waste to energy technologies. Its carbon emissions must be properly controlled and diverted to renewable energies in order to fulfill the economic success and political safety of sustainable development. The carriage of goods by sea involves legal instruments, such as Hamburg, Hague, and Hague-Visby Rules under principles of International Commercial Contracts (UNIDROIT). Rotterdam Rules covers a broader spectrum and more substantial elements of regulatory functions encompassing Hague, Hague-Visby, and Hamburg Rules.
 Findings: Development of carbon tax is a statutory interpretation for economic success of the company towards philanthropic sustainable development in relation to public interests of human rights. Rotterdam Rules developed a means to enforce the substantial elements for validity of Hague, Hague-Visby, and Hamburg Rules in terms of carbon emissions for renewable energies based on sustainable development goals. Hence, the waste to energy technology provided a means of interpreting their economic progress in relation to law of the environment comparable to another jurisdiction.
 Recommendation: In order to achieve economic and political stability, there must be a functional equivalence between waste to energy technology and sustainable development, hence, carbon emissions from commercial transactions of International Carriage of Goods must not serve as an impediment to economic success based on laws of the company and the environment, thus, it must fulfill the goals of political sustainable development resulting to renewable energies.

A generalized payment policy for deteriorating items when demand depends on price, stock, and advertisement under carbon tax regulations

The down-cash-credit method is quite common in today’s real-world commercial transactions. In light of existing legislation to decrease carbon pollution, this research aims to investigate how down-cash-credit payments impact business strategies for perishable items in the context of the most commonly utilized carbon tax legislation. Specifically, this article demonstrates an inventory system from the buyer’s point of view in which (a) the demand curve is determined by the price, displayed volume, and frequency of advertisement, (b) the product is constantly deteriorating, (c) the supplier provides one of the frequently utilized down-cash-credit payment methods, and (d) the buyer gets taxed at a consistent rate for each ton of carbon emissions. Moreover, the goal of pharmaceutical stores is to optimize overall profit by simultaneously determining order cycle, price, and frequency of advertisements. Finally, the theoretical results are validated by solving two numerical illustrations and conducting a sensitivity analysis of the main factors resulting from the following managerial implications: (a) credit pay provides the minimum sales price, but the maximum profit margin of any financing method, (b) an increase in scale demand raises selling price and length of the cycle while increasing overall profit significantly.

Geography of memory. The roads of the arriería in San Pedro Chapulhuacán, Hidalgo (1950)

This ethnohistorical research focuses on the arriería in San Pedro Chapulhuacán, Huasteca hidalguense, from an ethnographic perspective to understand social, economic and geographical processes. Historical ethnography allows us to explore economic aspects of the arriería, such as commercial routes and transactions, using oral sources to capture local memories and experiences. San Pedro Chapulhuacán, located in the north of the state of Hidalgo, has a rich history and geography that influences its social and economic dynamics. In pre-Hispanic times, the town was inhabited by Chichimecas, Otomíes and Nahuas, and after the conquest, it went through several changes in its administration and name. During the 19th and early 20th centuries, it experienced agrarian movements and revolution, impacting its social and economic structure. The semi-warm climate and the abundant vegetation of the municipality make it favorable for diverse agricultural and commercial activities. Muleteers, such as Don Vicente Ángeles Amador, played a crucial role in itinerant trade, transporting agricultural products through mountainous routes with pack animals. Don Vicente, born in 1929, began muleteering at the age of eight and continued until the 1990s, adapting to changes such as the use of cargo trucks. Commercial transactions in San Pedro Chapulhuacán included barter, "al tiempo" sales and other forms of exchange. Trust and word of mouth were fundamental to these arrangements. Local trade involved not only the distribution of products, but also the creation of social and cultural networks. The research highlights the importance of arriería in the economy and social life of the village, reflecting how commercial practices have evolved over time, influenced by geographical, historical and cultural factors

Effective Customer Review Analysis Using Combined Capsule Networks with Matrix Factorization Filtering

Nowadays, commercial transactions and customer reviews are part of human life and various business applications. The technologies create a great impact on online user reviews and activities, affecting the business process. Customer reviews and ratings are more helpful to the new customer to purchase the product, but the fake reviews completely affect the business. The traditional systems consume maximum time and create complexity while analyzing a large volume of customer information. Therefore, in this work optimized recommendation system is developed for analyzing customer reviews with minimum complexity. Here, Amazon Product Kaggle dataset information is utilized for investigating the customer review. The collected information is analyzed and processed by batch normalized capsule networks (NCN). The network explores the user reviews according to product details, time, price purchasing factors, etc., ensuring product quality and ratings. Then effective recommendation system is developed using a butterfly optimized matrix factorization filtering approach. Then the system’s efficiency is evaluated using the Rand Index, Dunn index, accuracy, and error rate.

Pravni i ekonomski aspekti kršenja međunarodnih sporazuma o prodaji robe i usluga

Sales have achieved huge dimensions worldwide under the current business environment brought about by the processes of globalization, deregulation, and liberalization. Sales contracts are crucial in today's global trade because of these factors. The spectrum of commodities that are the subject of commercial transactions and, by extension, agreements has greatly expanded as a result of the growth of industry, the economy, and multinational and transnational corporations. Sales contracts have distinct collision standards, quandaries, and treatments in addition to their consequences on the economy and law. Given the importance of pricing in all economic domains and the vast scope of international trade, sales contracts hold great relevance in today's international commerce. The range of goods subject to commercial transactions has expanded significantly with the growth of industry, the economy, and multinational and transnational corporations. The sales contract has implications for the economy and law, and its fundamental components have been treated differently in legal science. The growth and development of all company activities have been facilitated by the existence of international legal regulation.

Ley natural y humana en el contexto atlántico: Alonso de la Veracruz and Tomás de Mercado

In this paper on the early Mexican thinkers Alonso de la Veracruz and Tomás de Mercado, a scarcely explored topic will be pursued: the foundational role of natural law and its interpretability through human law. It will be shown that both authors, based on the Salamancan traditions of the 16th century, introduce a method that would affirm the validity of natural law and, at the same time, allow diverse applications of the normative parameters of human law. As Veracruz argues in his critique of tithing for indigenous peoples, the natural law can be reinterpreted based on concrete social facts. In the case of Mercado, even when human law is congruent with natural law, it can be disregarded to avoid personal or public harm mainly in commercial transactions.

DESCRIPTION OF THE STANDARDIZATION PROCEDURE OF STANDARD VOLUME MEASURES AND ANALYSIS OF THE STABILITY OF THEIR METROLOGICAL CHARACTERISTICS

The metrological characteristics of the measuring devices refer to the behavior of the measuring device in relation to the object under measurement, the environment and the human operator. Thus, having the same conditions in the laboratory and a well-trained and competent staff, the stability of the metrological characteristics of the standard volume measures were studied in order to demonstrate their stability over time and provide increased confidence to the subsequent beneficiaries. The measurements were carried out over a period of one year under the same conditions, their results demonstrating that the standard volume measures are able to ensure the traceability of the measurement unit. In this way to ensure the uniformity, accuracy and legality of the measurements performed in different fields – measurement of volume in commercial transactions, fuel supply, wine industry.

Unraveling the Quandary of Covid-19 on Commercial Transactions Especially in the Wake of Supranational Regulations

Unraveling the Quandary of Covid-19 on Commercial Transactions Especially in the Wake of Supranational Regulations

Applying Risk-Taking in Islamic Banking and Finance from the Perspective of Islamic Jurisprudence

Islamic financial Institutions are expected to take considerable business risks when earning from their financial dealings. The objective of this study is to clarify the concept of risk in Islamic commercial financial transactions from the fiqhi (or Islamic Jurisprudence) perspective and analytically evaluate the selected three issues having place in the practice of Islamic finance based on the concept of risk taking maintained by Islamic fiqh. This is desk-based research where data has been collected from various sources such as classical fiqh books, regulators’ policy documents and guidelines, and journal articles. This study employed mixed methods of literature review and qualitative content analysis to analyze the data critically in search of assertive findings. The study revealed the issues relating to risk-taking behaviour of Islamic financial institutions (IFIs) as, amongst others, charging the cost of the fund on defaulting customers, holding the lessee liable for the total loss of leased assets under Ijārah Thumma al-Bay’(AITAB) and capital guarantee under Mushārakah based instruments. This study suggests that Institutions facilitating Islamic financial instruments shall have to evaluate the business risk based on their subjects namely (i) property (māl) and (ii) work (ʿamal) in ensuring the fulfilment of Shariah principles and expected risk-taking concept embedded in contracts or instruments without diverting them. Analysis of the selected cases in this research identified that when risk-taking principle is breached, the prohibited elements, such as Ribā, Gharar and Maysir, do arise and that they impede the realization of the Maqāṣid al-Shariah intended for Islamic financial contracts. This research would allow the Shariah scholars and legal authorities in the Islamic financial industry to extend their knowledge on issues in the practice of Islamic finance pertaining to risk-taking behaviours that are expected by the IFIs.

The Impact of Markets and Roads on the Domestic and Foreign commercial Financial Transactions in Egypt during Greco Roman Period

The Impact of Markets and Roads on the Domestic and Foreign commercial Financial Transactions in Egypt during Greco Roman Period

Financial Technology (Fintech); An “e-florescence” of Commercial Transactions in Nigeria

Financial Technology (Fintech); An “e-florescence” of Commercial Transactions in Nigeria

Foreign trade relations of the BSSR the Republic of Polish in 1921–1924

According to the Riga Peace Treaty of March 18, 1921, both parties were obliged, no later than six months from the date of ratification of the agreement to begin negotiations on the conclusion of a special Trade Agreement and an agreement on compensatory barter. Desiring to improve Soviet-Polish trade relations between representatives of the Office of the Authorized People’s Commissariat for Foreign Trade of RSFSR under the Council of People’s Commissars of the BSSR and Polish business circles (joint-stock companies Dava-Britopol, Palantyn, Zapadoles, Gratenau). Their result was the conclusion of several agricultural implements, certain types of food chemical compounds. In the initial period of the formation of foreign economic relations between the BSSR and the Polish Republic, Belvneshtorg played a positive role in the formation and development of international economic and technical ties between the BSSR and Poland. Commercial transactions of the organization largely determined the import and export of Soviet Belarus, which positively influenced the formation of the industrial and economic complex of the country in the early 1920s, the development of the economy, education and science of the republic. The formation and development of export-import operations took place in a difficult situation. There were a number of factors that negatively affected the activities of the NKVT of the BSSR, lowered the efficiency of its work: the monopoly of foreign trade, strict dictatorship by the Supreme Council of National Economy and its structures in the BSSR, the lack of a well-thought-out market legislative base, coupled with bureaucratic shortcomings, unfavorable conditions in the European and world markets, ill-conceived foreign policy strategy of the state, lack of effective management.

Engineering Game Theory of Green Hydrogen towards Energy Transition using Shariah Jurisprudence Developmental Framework based on Ethical Decision-Making from Philosophy of Technology

Green hydrogen is a production of business philosophy inclined to promote renewable energies. Its paradigm shift works on targeting the absence of carbon emissions leading to compliance of the first law of thermodynamics since the financial intelligence of business industries is designed to maintain the abundance of natural resources through economical means. Sustainable development is the result of business growth innovations based on environmental impact assessments concerning marketing of goods and services. However, there are observed restrictions on these contract laws of business transactions, thus, problems can be raised pertaining to monetary intelligence of environmental laws. This paper is designed to address issues on energy transition and elucidate the equation development of statutory interpretation and its gaps to environmental laws and electricity regulations using game theory modelling of shariah jurisprudence method resulting to question development of services, particularly, the hydrogen production and zero target emission of greenhouse gases based on Renewable Energy (Electricity) Bill 2000 (Cth). The legal history of commercial transactions, starting from Hague to Rotterdam Rules are documented to enhance the bill of lading pertaining to transportation of goods in relation to receipt and delivery. Constitutional laws are superior as pre-emption doctrine for compliance and harmony of other statutory laws such as electricity bill and climate change regulations. Energy regulations are observed to comply with climate change policies for tightening the monetary strength of business systems against depletion of environmental resources. Therefore, if green hydrogen is the 2050 plan for electricity transition, its prediction is analogous to the technological services of concession elucidating the equation development of business economics and its environmental laws for public safety in meeting the energy demands resulting zero target emission.

Estimation of conversion factors for wood stacks in landings and their influencing parameters: a comprehensive literature review for America and Europe

In commercial transaction of stacked roundwood, the estimation of the stack net volume plays a key role. One generalized method to determine the net volume is using conversion factors that relate the gross and net volumes. In this literature review the developed methods to estimate the conversion factors as well as their influencing parameters were analyzed based on 153 references from America and Europe. According to the results, 48 different methods (including their variants) for estimating the conversion factors were developed. The newest methods enabled their accurate determination inexpensively, e.g., photo-optical methods or 3D simulation models. The analyzed references revealed that 30 parameters influence the conversion factors. Based on this comprehensive review, each stakeholder involved in the roundwood supply chain can know which method is used for estimating the conversion factors in the analyzed territories and which influencing parameters should be considered when purchasing roundwood in order to accurately assess the solid wood content in the stacks.

Financial innovation, corruption, and economic growth: analysis of Sub-Saharan African countries

Financial innovation allows the expansion of financing, facilitates domestic and international commercial transactions, and reduces bureaucracy for financial institutions in customer satisfaction. We aim to examine the determinants of financial innovation and to verify whether financial innovation positively impacts economic growth, despite the prevalence of corruption in the Sub-Saharan Africa region. Results show that the determinants of financial innovation in Sub-Saharan African countries are competitiveness and the crisis in the banking sector, the need to extend the portfolio of deposits and bank loans (financial inclusion), and increased internet access for households and investment. Similarly, corruption prevents the transmission of the positive effects of the financial system on economic growth, and reductions in corruption boost economic growth, so it will be important for policymakers to bear in mind that without the reduction and control of corruption in developing countries, financial innovation does not produce major advantages concerning the economic growth of African countries.

МЕТОДОЛОГИЧЕСКИЕ ОСНОВЫ ОРГАНИЗАЦИИ ОЦЕНКИ ИННОВАЦИОННЫХ ПРОЕКТОВ НА ОСНОВЕ ПОСТРОЕНИЯ ЛОГИКО-СТРУКТУРНОЙ МАТРИЦЫ

The purpose is to develop methodological foundations for evaluating innovative projects based on the application of the “Due Diligence” standard and the real options method, followed by the construction of a logical-structural matrix. Research methodology: It is based on the "Due Diligence" standard used in the evaluation of innovative projects since the early 30s of the XX century. In its classical form, this approach is a complex analytical procedure aimed at determining the legality and investment attractiveness of a planned commercial transaction, merger, acquisition, investment, issue or other financial procedure in order to minimize possible risks and related financial losses and make a decision on investing capital. The object of the study is modern methods for evaluating innovative projects. The subject of the study is the peculiarities of organizing the evaluation of innovative projects in modern conditions for the implementation of an integrated approach to making managerial decisions regarding the introduction of innovations, comparative and systematic approaches, as well as general theoretical methods of analysis, synthesis, generalization, comparison. As a result, the authors carried out a comparative analysis of the main approaches to the evaluation of innovative projects, which made it possible to substantiate that the evaluation of an innovative project should be based on the real options method and the “Due Diligence” expert approach, followed by the construction of a logical-structural matrix. The advantage of this method is the possibility of a phased assessment of the project, taking into account various options for the combination of circumstances. This integrated approach to the evaluation of innovative projects allows us to consider not only the likelihood of various events, but also makes it possible to evaluate the effectiveness of the project, taking into account various options for getting out of the current situations. The integrated application of the real options method and the “Due Diligence” expert approach allows taking into account risks and reducing the level of influence of uncertainty on the assessment results, which determines the practical significance of the study.

The value of the market price in contracts of sale: an analysis

Every rule should be valuable to the law. More so if the rule affects the commercial interest of society. A rule may be adopted or formulated to regulate commercial transactions, particularly to support the efficiency of the market. The market price rule is formulated to measure the degree of damages a contract defaulter should pay. The rule should indeed be applied consistently and reasonably to avoid uncertainty and unfairness. It follows that the market value as a rule and measure of commercial liability should not escape analysis to determine its limitations and value in contracts of sale. Thus, this article aims to provide a thorough discourse on the market price rule and how it should be applied in contracts of sale. The purpose of this article is to provide a comprehensive exposition of what informs the market price and how the market price affects the determination of damages in contracts of sale.

Consumption: From Commercial Transactions to the Ritualistic Circulation of Meanings

Consumption: From Commercial Transactions to the Ritualistic Circulation of Meanings

One-Class Arabic Signature Verification: A Progressive Fusion of Optimal Features

Signature verification is regarded as the most beneficial behavioral characteristic-based biometric feature in security and fraud protection. It is also a popular biometric authentication technology in forensic and commercial transactions due to its various advantages, including noninvasiveness, user-friendliness, and social and legal acceptability. According to the literature, extensive research has been conducted on signature verification systems in a variety of languages, including English, Hindi, Bangla, and Chinese. However, the Arabic Offline Signature Verification (OSV) system is still a challenging issue that has not been investigated as much by researchers due to the Arabic script being distinguished by changing letter shapes, diacritics, ligatures, and overlapping, making verification more difficult. Recently, signature verification systems have shown promising results for recognizing signatures that are genuine or forgeries; however, performance on skilled forgery detection is still unsatisfactory. Most existing methods require many learning samples to improve verification accuracy, which is a major drawback because the number of available signature samples is often limited in the practical application of signature verification systems. This study addresses these issues by presenting an OSV system based on multifeature fusion and discriminant feature selection using a genetic algorithm (GA). In contrast to existing methods, which use multiclass learning approaches, this study uses a one-class learning strategy to address imbalanced signature data in the practical application of a signature verification system. The proposed approach is tested on three signature databases (SID-Arabic handwriting signatures, CEDAR (Center of Excellence for Document Analysis and Recognition), and UTSIG (University of Tehran Persian Signature), and experimental results show that the proposed system outperforms existing systems in terms of reducing the False Acceptance Rate (FAR), False Rejection Rate (FRR), and Equal Error Rate (ERR). The proposed system achieved 5% improvement.