Commercial Transactions Research Articles

“CODIFICATION OF ELECTRONIC CONTRACTS AND IT’S EFFECTS ON THE DEVELOPMENT OF E: COMMERCE THROUGH INTERNET” ACCORDING TO PROVITIONS OF SHARIAH AND CIVIL LAW A COMPARATIVE STUDY WITH (UAE)THE ELECTRONIC FINANCIAL, COMMERCIAL TRASCATION ACT, 2002 AS A CASE STUDY

By the presentation of the proposed ongoing conference paper that bearing the title: “Codification of Electronic contracts and it’s Effects on the Development of e: Commerce through Internet” According to provisions of Shariah and Civil Law, A Comparative Study with the (UAE) Electronic Financial Commercial Transaction Act, 2002 As A Case Study: (i) The research paper intents to explore the significance of the study which in a simplee sense: (1) It is an attempt to codify the Islamic Jurisprudence of Mua’malat in the practical aspect to explanation the provitions (UAE) electronic financial commercial Transaction Act, 2002, (2) An attempt to explain the legal basis of Electronic Financial Act with reference to Holy Quran and Sunnah (3) Exposing the effects of electronic contract in developing economic and political public and private projects and organizarions. (ii) the research problems that associated with this research papaer such as: (1) what are the classificcation of electronic contracts? (2) what are the methods of elctronic signiture? (3) are the required conditions for the establishment the traditional classic contracts will be valid on electronic contracts? (iii) the essential aims and objective of this paper could be summerize as follows: (1) To determin the referenceship of Emirate Act of Electronic contract with Islamic Jurisprudence, (2) To support the research with juristic resolutions that declared by International Fiqh Assemblies which governing the usage of Electronic contracts (iv) The research methodology that adopted in this paper: is a choronological analytical juristic research method. (v) Research Review: There are various research published and thesis written in the area of electronic contract such as: (1) Alan Dividson: The Law of Electronic Commerce, Combidige University Press, first publication, UK (2009). (2) Faye Fangfei Wang: Law of Electronic Commercial Transaction, publication of Routledge Tylor and Francis Group, London and New York (2010) and others. (vi) Main features of Research chapterization such as: (1) Defenition of Electronic contract and Electronic commerce it’s obstacles and classification, (2) Juristic Resolutions declard by International Fiqh Assemblies that governing electronic contracts and e: commerce. (3) Pillers of Electronic contracts. (4) Authentication and proof of Electronic contracts. (6) Political and Economic Effects of Electronic contracts and e: commerce. (7) Penalities prescribed by courts enforced against cyber criminals. (vii) Findings: (1) Shariah Law regarding enactment of muamalat provitions is so flexable to govern the whole types of electronic contracts and e: commerce, (2) The conditions that required for establishment of classic contracts are valid for establishment electronic contracts, such as: telephone, fax, telex, computer, internet etc. Key words: Electronic Signiture, Electronic Record, E: Commerce, Electronic Contract, Electronic Acceptance

Forum Introduction: Gender, Intimate Networks, and Global Commerce in the Early Modern Period

AbstractIn the seventeenth and eighteenth centuries, new patterns of knowledge, credit, and capital were created by global expansion. These, in turn, created new opportunities for groups of people who previously had little access to global trade. These individuals—women as well as men—increasingly engaged in commercial transactions, some of them relatively autonomous, others challenged and hindered by various forms of institutional control and constraint. Emphasising the intimate nature of networks means examining the quality rather than the quantity of certain networks, which ultimately facilitates a shift away from well-known historical agents such as influential merchants, powerful politicians, and various nobility and royals. The Gender, Intimate Networks, and Global Commerce in the Early Modern Period forum seeks to add to our knowledge of the diverse ways that intimate economic networks developed in both the Atlantic and Indian Ocean worlds, in Europe as well as en route elsewhere, among the well-off as well as the relatively poor, and among free people as well as the enslaved.

The new abnormal: Identifying and ranking anomalies in the land trade market.

Large-scale national and transnational commercial land transactions, or Large-Scale Land Acquisitions (LSLAs), have been gaining a lot of academic attention since the late 2000s and since the reported rush for land, resulting in turn from an increase in demand for arable land. If many data exist to characterize land deals, the analysis of investment networks remain limited and predominantly portrays power asymmetries between countries from the Global North investing in the Global South. The aim of this work is to perform a deeper investigation on the land trade market, specifically focusing on cases that do not follow such narratives. For instance, almost 25% of the countries included in the transnational land trade network do not follow a strict investor/target dichotomy, thus being characterized by a double role, i.e., they both acquire and cede land in the transnational context. In order to globally acknowledge for what was currently considered as abnormal cases, we model open access data about LSLAs extracted from the Land Matrix Initiative (LMI) open-access database into a network graph, and adapt an eigenvector based centrality method originally conceived for online social networks, namely LurkerRank, to identify and rank anomalous profiles in the land trade market. We take into account three different network snapshots: a multi-sector network (including all the transnational deals in the LMI database), and three networks referring to specific investment sectors (agriculture,mines and biofuels). Experimental results show that emerging economies (e.g., China and Malaysia) play a central role in the land trade market, by creating alternative dynamics that escape the classic North/South one. Our analyses also show how African countries that are often seen as targets of land trade transactions in a specific sector, may often acquire foreign land in the context of investments in the same sector (i.e., Zimbabwe for biofuels and the Democratic Republic of Congo for the mining sector).

Thailand’s Sex Entertainment: Alienated Labor and the Construction of Intimacy

Promising research from Thailand already highlights women in the sexual entertainment industry as being active participants in both intimate relationships and commercial transactions simultaneously. Notably, they are neither victims nor alienated laborers, as some activist narratives assert. Women working in Thailand’s sex entertainment industry consistently adapt working cultures to modernity’s demand to reduce sex to a commercial transaction while often seeking emotional engagement. One result is that new forms of intimacy emerged, taking on new cultural meanings. The profoundly felt need to care for and take care of someone else [dulae (Thai: ดูแล)], seen as a form of “intimacy”, is, in fact, deeply rooted in the Thai social context. We reframe the literature about sex work in Thailand by assuming that intimacy is key to understanding how “sex work” arose and is sustained there. Focusing on intimacy distances research about sex work away from western assumptions about the commodification and alienation of labor. This gives a more holistic understanding of the complexity of overlapping and intersecting dimensions of the work women perform in sex entertainment. “Intimacy” ties together the issues of money, labor, and a need to care for someone and be taken care of. This thread links women with their customers, families, and themselves.

DOES MACHINE LEARNING PREDICTION DAMPEN THE INFORMATION ASYMMETRY FOR NON-LOCAL INVESTORS?

In this study, we examine the prediction accuracy of machine learning methods to estimate commercial real estate transaction prices. Using machine learning methods, including Random Forest (RF), Gradient Boosting Machine (GBM), Support Vector Machine (SVM), and Deep Neural Networks (DNN), we estimate the commercial real estate transaction price by comparing relative prediction accuracy. Data consist of 19,640 transaction-based office properties provided by Costar corresponding to the 2004–2017 period for 10 major U.S. CMSA (Consolidated Metropolitan Statistical Area). We conduct each machine learning method and compare the performance to identify a critical determinant model for each office market. Furthermore, we depict a partial dependence plot (PD) to verify the impact of research variables on predicted commercial office property value. In general, we expect that results from machine learning will provide a set of critical determinants to commercial office price with more predictive power overcoming the limitation of the traditional valuation model. The result for 10 CMSA will provide critical implications for the out-of-state investors to understand regional commercial real estate market.

Immunities: State Immunity for Unpaid Medical Services and the Criteria for Identifying a Commercial Transaction

Immunities: State Immunity for Unpaid Medical Services and the Criteria for Identifying a Commercial Transaction

Fairtrade as a Social Innovation: Brazilian Experience of Rural Organisations

The objective of this article is to describe the dynamics of fair trade in organisations that adhered to the Fair Trade International system, based on the principles of fair trade and the dimensions of social innovation, and to identify why there was a disruption in commercial transactions. Four organisations from the state of Rio Grande do Norte, Brazil, which won the fair trade seal, were analysed. Primary data collection occurred through semi-structured interviews and simultaneous annotations and, later, secondary data were collected from official documents, articles, academic works and websites. The results show that the experiences of organisations with Fair Trade International have numerous properties of the dimensions of social innovation. There was the emergence of an emerging development model with the opportunity to work collaboratively and collectively. These changes required adaptation and new practices, as producers underwent a period of changes in their working and production. The formation of cooperatives and fair trade certification had the mobilisation and participation of various actors, who also provided collective learning, both in technical terms and in terms of civic and interpersonal management, especially for rural producers.

Impact of Forest Landscape on the Price of Development Plots in the Otwock Region, Poland

Building plots, understood as land properties intended for development, are an important object of commercial transactions. Their prices are determined by several factors, such as location, state of development, distance from important urban centres, and proximity to green areas. It is certain that, especially with regard to building plots intended for single-family housing, the proximity of natural areas, especially forest areas, is becoming increasingly important. The Otwock region, with a forest cover of more than 30%, has numerous undeveloped lands that are or could be development plots. This article concerns an analysis of transactions involving undeveloped development land of selected communes in the Otwock region. On the basis of an analysis of prices of real estate transactions from 2011 to 2016 from four municipalities of the Otwock region and a spatial visualisation of the plots, the relationship of price (m2) with physical characteristics (technical development, shape, area), distance from a large city (Warsaw), and distance from a railroad line stop and landscape values (landscape type, distance to the forest, number of landscape components) was determined. Statistical analyses used regression and correlation analysis. The preferences of 519 people interested in buying/selling real estate in the Otwock region were also investigated, and for this purpose, we cooperated with real estate offices and municipal offices. The results of the survey strongly indicate that forest landscapes increase the attractiveness of building plots, which in turn leads to higher prices on the market. The results of the study show that there is a relationship between the price of a property and its distance to the forest, the nature of the forest boundary, and the number of landscape elements. The forest landscape is one of the most important factors determining the attractiveness of a building plot. Proximity to a forest, especially forests under a form of protection, is an important value for prospective land plot buyers. The views of respondents varied considerably due to socio-demographic characteristics, mainly the age and education of respondents.

РОЗВИТОК ЕЛЕКТРОННОЇ КОМЕРЦІЇ ТА ПОНЯТТЯ ЕЛЕКТРОННОГО ДОГОВОРУ

Article considers the concept of E-Commerce and E-Contract, their essence and content. Main types of E- Commerce and factors influencing the development of E-Commerce are presented. The conclusion of the contract in electronic form is defined by law, but still needs more circumstantiation, because legal framework is still quite cumbersome and is in the process of continuous improvement. Today, the development of E-Commerce promotes rapid access to information and resources, becomes highly profitable form of commodity-money relations, and therefore must be actively implemented and carry out a kind of revolution. Digital technologies and information communication networks are gradually becoming a part of everyday life and playing an important role in development of business and national economy overall. Electronic commerce is the most important component of electronic business. Emergence and fast growth of electronic business all over the world results from a variety of reasonable conditions and preconditions. Electronic form of information presentation is the documentation type that enables reproduction of the information in the visual form acceptable by the reader. One of the risk management means in course of any electronic commerce transactions is conclusion of contracts (agreements) by telecommunications. Upon adoption of the Law of Ukraine “On electronic commerce”, the legislation has coordinated the particular aspects governing conclusion of electronic contracts (individual issues have been coordinated by the Law of Ukraine “On electronic documents and document flow” and “On electronic signature.)” The article details the conditions of electronic contract conclusion, the procedure of use of the electronic signature for electronic contracts, identifies the ways to improve development of electronic commerce and electronic contracts and the procedure of use of the above. The special objective of the research has been to determine how electronic commerce and electronic business may be used to foster sustainable development and generally to facilitate the economic relations of Ukraine, as well as how electronic ecommerce affects the economic law of Ukraine.

IMPLEMENTING CONVINCIVE AND PERSUASIVE STRATEGIES IN THE DISCOURSE OF COMMERCIAL TRANSACTIONS (based on commercial letters of South African companies)

The article justifies the relevance of the study of convinciveness and persuasiveness categories in the commercial discourse. An attempt is made to analyze the genre «сommercial letter» in accordance with discursive strategies and tactics that promote effective business communication in the commercial activities. Based on the pragma-linguistic analysis of the written business discourse, the typological characteristics of commercial letters are defined. The ways of implementing convincive and persuasive strategies based on commercial letters of South African companies are considered. Strategies and tactics of convinciveness and persuasiveness are studied in the terms of the speaker’s influential potential and argumentation. The types of argumentative strategies in the commercial transactions’ discourse are differentiated and their classification is given. Linguistic and paralinguistic means of implementing the speaker’s convincive and persuasive influence are described.

Entry mode diversity and closing commercial deals with international customers: The moderating role of advanced servitization

As the importance of servitization and service-augmented solution delivery grows into a mainstream phenomenon for manufacturers, offering theoretically founded avenues to solve their specific internationalization challenges is necessary. The study addresses the internationalization paradox faced by servitized manufacturers generated by the specific hybrid nature of their product-service offering. As such, this research is meant to understand the entry mode diversity for the internationalization of advanced servitization providers. Our primary research deal-level data follows 1885 potential sales negotiations for servitized products closed in 2018 by a Poland-based multinational high-tech optics firm offering product-service systems. The results of the study support the idea that manufacturers of advanced servitization could benefit from the implementation of entry mode diversity. It is found that the sales deal success when entry mode diversity is implemented in a foreign market is positively moderated when knowledge-intensive advanced servitization is included in the negotiation.

OPTIMIZATION OF DNA EXTRACTION PROTOCOLS FROM SHRIMP (Penaeus monodon) TISSUE

DNA analyses and DNA-based diagnoses are going forwardly in the commercial deals with shrimp (Penaeus monodon) as well as in the basic research. In this regard extraction of DNA is obvious. However, numerous protocols are available DNA extraction from animal tissue. Therefore, which technique is suitable one for shrimp tissue is indispensable to justify. In the current study, a protocol was optimized for extraction of DNA from shrimp collected from Batiaghata, Khulna. Muscle Tissue (MT) and Hepatopancreas Tissue (HT) were distinctly sampled on15th March, 2007 from only one fresh individual for each of six protocols applied. Guanidium isothiocyanate treatment involving two groups of commercial preparation (DNAzol from invitrogen® and DNA Extraction Buffer (DEB) from Genei®) with or without RNAse, as well as Proteinase K isolation technique and sodium dodecyle sulfate (SDS) isolation technique were applied to extract DNA. The quantity (µgml-1) and quality were determined by UV spectrophotometry at A260nm and A260/280 respectively. The current study provided that the quantity of DNA obtained with almost every protocol was higher when the hepatopancreas tissue was used. Among six protocols, DEB with RNAse (102.5 µgml-1 for MT, 302.5 µgml-1 for HT) resulted the highest concentration of DNA with acceptable level of purity (A260/280 1.86 for MT and 1.70 for HT).

Power of nonverbal behavior in online business negotiations: understanding trust, honesty, satisfaction, and beyond

ABSTRACT Digital teamwork has become prevalent and is ever since becoming part of the human work- and life-style, globally. But in comparison with face-to-face setting, virtual teams face multifold challenges. To date, scarce empirical research has examined whether team-breaking challenges are associated with limited access to peer nonverbal signals. This study examines whether access to body signals is associated with effective teamwork, and whether limited access provokes key team challenges. We also examine what social-psychological team concepts can be detected from peers’ consciously or unconsciously displayed visual cues that cannot be as effectively gained without visual access. 14 dyadic teams of MBA students were examined in an online business negotiation task to reach an authentic commercial deal. Half of the teams negotiated only through voice and text, while the other half had camera access as well. Using an exploratory mixed methods analysis, we identified 12 unique team factors based on nonverbal data. We also found that teams with camera access could build mutual trust more rapidly, detect peer honesty better, and realize agreements on suggestions more accurately. Surprisingly, we also found instances where camera access became stressful and participants reported it as an additional burden. Conclusions and implications are reported at the end.

The Dispute Settlement through International Arbitration between PT. Karaha Bodas Company against PT. Pertamina and PLN

Arbitration is a dispute resolution institution that uses an adversarial approach with the result that win lose chosen as an alternative by business people. Alternative dispute resolution that is currently in demand is through arbitration because it is in line with the increase in commercial transactions in the business sector both nationally and internationally. Dispute resolution through arbitration provides benefits for the disputing parties. These advantages include the confidentiality of the disputing parties, relatively cheaper costs, a fast, efficient dispute resolution process and provide flexibility for the disputing parties. International arbitration dispute resolution has a uniqueness which adheres to the principle of final and binding (last resort and binding). An international arbitral award that has been decided abroad if it is brought to Indonesia, there are two possibilities, i.e. the International arbitral award asks to be enforced or annulled. Based on the dispute between PT. Pertamina against Karaha Bodas Company that Pertamina cannot cancel the arbitration award that has been handed down by the Swiss Arbitration Board. The reasons for rejection and cancellation are as stated in the New York Convention and the UNCITRAL Model Law.

Assessing the Legal Regime for the Taxation of E-commerce and Social Media Organizations in Nigeria

E-commerce and social media have emerged because of the Internet’s development. Business transactions are concluded through it between persons from all over the world who may never meet in person throughout their lives. Flowing from modern trends, a significant number of transactions are completed online on digital platforms and social media. As Nigeria continues to grow and transform in the information and computer technology space, its laws are yet to match the pace of this transition fully. While Nigerians continue to benefit from this development, the profits from online commercial transactions have not been fully captured in Nigeria’s tax bracket. There is no doubt that fully harnessing the taxation of e-commerce and social media companies would boost the revenue and contribute to the development of Nigeria. This article examines how e-commerce and social media were taxed before the enactment of the Finance Act 2020 and how the Act has brought e-commerce into the Nigerian tax net. This article will also attempt to highlight the experience from other jurisdictions in the taxation of social media and e-commerce, noting the lessons that Nigeria can gain from them. Finally, this article will recommend steps for achieving a fair implementation of the law on the subject. Taxation, social media, e-commerce, Significant Economic Presence, Revenue, Double Tax Treaty, Digital Services, Non-Resident Companies, Technology, Globalization

Smart Contracts and the Theory of Detrimental Reliance: Exploring the Link

A relatively recent phenomenon, smart contracts have slowly revolutionized the sphere of commercial transactions through faster, cheaper and automated means, by removing layers of unnecessary negotiation. A combination of law and coding, smart contracts have the potential to redesign our understanding of the basic doctrines of contract law. This article investigates the possible link which exists between smart contracts and the theory of detrimental reliance through the application of such contracts to certain age-old landmark cases, predominantly cited in the realm of contract law. It proposes the notion that issues pertaining to negotiation and miscommunication which have been the core matter of disputes in such cases, may have been easily avoided through an application of smart contracts, which compel enforcement at every stage. In particular, this article has explored the verdict of the jury in the matter of Pennzoil v. Texaco and construed that smart contracts have a key role to play even in instances of in-principle agreements. Further, this article has explored the possibility that, like any novel invention, smart contracts are not without their flaws and has examined the criticisms put forth regarding the applicability and adoption of such contracts, in certain instances. Finally, the author has concluded that a mechanism which would combine the strengths of both smart contracts and paper-based agreements is the need of the hour, to eliminate issues of ambiguity, enforcement and to permit the determination of more subjective legal criteria, as may be contractually required. Consideration, detrimental reliance, Pennzoil v. Texaco, promissory estoppel, smart contracts

Interest rate versus profit rate in the light of Islamic maxim: Al-ibratu fil uqūdi lil maqāsidi wa ma’ānī lā lil alfāzi wal mabani

The concept of interest and profit is as old as the history of commercial transactions because, in Jahiliyyah (ignorant) period, people transact business based on interest and sometimes for profit. These concepts are also not alien to conventional financial practice, except that many people cannot distinguish between interest-based and profit-based transactions. As much as shariah encouraged commercial transactions of common and fair benefit through exchanging commodities and money, it equally emphasised the need for fair play and justice for entire market stakeholders. This study aims to explore and explicates literature on the differences between conventional bank interest rates and the Islamic bank profit rate in financing. The study will describe the contractual pictures of both methodologies to analyse the convergent and divergent features between interest-based loans and profit-based financing. This study uses the Islamic legal maxim theory of "In contracts, the effect is given to intention and meaning and not words and forms" (Al-‘ibratu fil uqūdi lil maqāsidi wal ma’ānī lā lil alfāzi wal mabānī) as a fundamental principle in determining shariah compliant profit based in commercial transactions. This study arrived at findings on the distinctive divergent between the interest rate and profit rates in financing. The study identifies issues those convergent trigger concerns among researchers and critiques in contemporary applications can be resolved based on contractual intent and meaning rather than words and forms. This study came up with recommendations for improving the operational status of Islamic financial transactions in the profit rate.

Increasing Public Understanding of the Prevention and Complaints of Fraudulent Investments

The many offers of high income make many people interested in investing. People's carelessness backfires on those who are victims of fraudulent investments. Illegal investment or more commonly known as a fraudulent investment is indeed carrying out investment activities that are not following existing regulations. The ease of access to information and the affordability of technology today has become the ground for illegal investment actors to look for victims. Investments that initially aim to obtain maximum income from existing capital in the future harm investors. In illegal assets, it is not only the activities that are not appropriate, but the completeness of the licensing documents for investment companies is also incomplete. Many types of activities resemble investments but are fake or illegal. The victims of this activity are not only a few. Even from all walks of life are victims of this irresponsible activity. This service is carried out by educating the public regarding complaints and assisting with illegal investments. This service will be carried out by providing investment training for the community in Kalipancur Village, especially for mothers and teenagers who are often the target of investment fraud. Such an approach is expected to provide validity of the results as a good outcome. This training is considered efficient and effective because the public understands and understands commercial transactions through the internet to increase their knowledge to increase their income and standard of living.

Transactions and Human Resource Management before and after restrictions of Sunday trading in Poland

Aim. In March 2018, the Solidarity trade union forced new Polish law banning nearly all commercial transactions on Sundays, including supermarkets and majority of other retailers. However, there were exceptions, such as petrol stations and e-commerce online shops that were permitted to continue their operations. Therefore, a number of additional transactions in e-commerce and stationary hot spots in petrol stations on Sundays increased significantly. In our research, the quantitative relationship between these restrictions and a demand expressed by a number of transactions hourly and daily has been considered according to real data sets and observations collected from e-commerce transactions and a local petrol station in Głogów (Poland) that belong to the British Petroleum network.
 Methods. The Detrended Fluctuations Analysis (DFA) has been applied to detect new clients on Sundays and to exploit and track their behaviour and customs from time series on other trading days in petrol stations.
 Results. According to our results, free market as an equilibrium theory works well because significant groups of additional customers on Sundays were detected. Moreover, these new customers may continue purchasing on other trading days, which depends on human resources of the petrol stations. This result is consistent with other effects, such as e-commerce development in Poland after 2018.
 Conclusion. The success of involving new customers is determined by the quality of human resources development at local petrol stations. On the other hand, e-commerce development may constitute an alternative solution.

FRANCHISING AND RESTRAINTS OF TRADE – RESTRAINING EX-FRANCHISEES FROM COMPETING WITH THE FRANCHISE NETWORK

Franchising is a method of expanding a business that allows one (the franchisor) who has developed a successful product or service to increase his distribution network through the investment of others (franchisees) who want to own their own businesses. The relationship between the franchisor and his franchisees is extremely complex but at present it is treated as a normal commercial business transaction. Such an approach fails to take into consideration the entire commitment structure that underlies the franchise network. I have examined this in the light of certain cases dealing with restraints of trade and suggest that there is a need to develop a distinct body of law designed specifically to deal with franchising.