Lease Agreement Research Articles

Fuzzy Model for Determining the Risk Premium to the Rental Rate When Renting Technological Equipment

The article is devoted to the method of determining the risk surcharge in rental rates for special technological equipment. The relevance and features of the task, as well as existing approaches to solve it in other subject areas, are described. The risk of landlords is highlighted as “the inability to fully ensure the receipt of a stable income recorded in the lease agreement”. The three most significant risk-forming factors are highlighted: the early return of equipment, the emergence of debt on payments from the tenant, and the breakdown of equipment due to the fault of the tenant. A fuzzy model for estimating the likelihood of the manifestation of risk-forming factors is proposed depending on the following challenges of the rental pillar: the size of the enterprise, financial stability, the age of the enterprise, the number of current trials, and the reputation of the enterprise. Describes: universal linguistics for input and output values characterizing risky components, logical output rules, and the assessment of the likelihood of risk in general. Based on the SciKit-Fuzzy library for the Python language, the model studies all available values of input variables, and tenants are presented separately on the boundary values of the enterprise parameters. A methodology for determining the rental rate, taking into account the risk surcharge, is proposed.

Правовые аспекты договора лизинга и особенности лизинговых правоотношений в современной России

The relevance of the study of stated topic is due to the rapid development of various types of legal relations in Russian civil society, and directly in legal relations related to entrepreneurship and other economic activities. The active development of a market economy in our country requires a large amount of funding in various areas of production. The state policy in the field of economic development is maximally aimed at developing and supporting various levels of business. The use of leasing significantly helps the development of entrepreneurship. The purpose of the study is to identify theoretical points that require revision and clarification both on the part of the scientific community and on the part of practicing lawyers, as well as to identify gaps in the current legislation in the field of leasing. Based on the above goal, we form the following tasks: to investigate the position of the leasing agreement in modern legislation and civil law doctrine, to identify the weaknesses of the legal regulation of the leasing agreement, to identify legal and technical shortcomings of regulatory legal acts in the field of the financial lease agreement. Methods used in the course of the study: analysis, synthesis, historical and legal method, comparative legal method. The practical value of the material is due to the fact that the results of the study can be used when concluding, changing and terminating a financial lease agreement, as well as in further reforming this area of civil law. The theoretical value lies in the possibility of using the materials of the study in the further study of the financial lease agreement, as well as in the study and teaching of civil law disciplines. As a result of the study, the gaps in the civilistic doctrine regarding the leasing agreement are identified, the conclusion is made about the need to single out the leasing agreement as a separate category of agreements, the need to make the term of the leasing agreement as a mandatory condition is determined, the current legislation is analyzed from the point of view of its compliance with the practice of applying the leasing agreement, as well as from legal and technical standards.

Women taking action: Multisession learning circles, storytelling, and an ecosystem of relationships for conservation

Current conservation outreach largely focuses on single-day, presentation-heavy events typically addressed to farmers, mostly men. Our project created a multisession learning circle series for a cohort of women landowners that introduced conservation education through storytelling and a more conversation-driven format. Its objective was to build relationships that would empower women landowners to take action. Its outcomes, however, far exceeded expectations. The program’s facilitators and the women landowner-participants not only built relationships of action but also developed a partnership that resembles what researchers call a cognitive ecology. This cognitive ecology involves collaboration among diverse and equal partners who expand each other’s thinking and capacity, use tools and technologies to extend cognition (maps, soil tests, lease agreements, and simulation models), and interact with the environment. As a cognitive ecology, our group—facilitators and women landowners—produced this article together, as coauthors. Our collaboration offers a storytelling- and exchange-based framework to engage individuals whose needs have not been fully met through conventional programming. Our preliminary findings suggest that conservation programming might better empower a larger range of underinvolved stakeholders by offering multisession programming that builds an ecosystem of relationships for action.

Arbitration Agreements in Commercial Aviation Contracts and the Hague Court of Arbitration for Aviation

An overview of the use of arbitration agreements in commercial aviation contracts, especially lease agreements, with particular reference to the establishment of the Hague Court of Arbitration for Aviation (‘Hague CAA’) in July 2022. It considers the advantages and disadvantages of arbitration agreements, as an alternative to state court jurisdiction clauses, in commercial aviation contracts, surveys the current provision of arbitration services to the aviation sector, examines the service offered by the Hague CAA and analyses the potential benefits and risks of writing Hague CAA arbitration agreements into new leases and contracts. Aviation, arbitration, court, enforcement, Hague, insurance, jurisdiction

SPECIFICATIONS OF INTERNATIONAL LEASING

The purpose of the publication is to analyze the specifics of international leasing through the study of the sectoral and sectoral specifics of leasing operations. This issue is especially relevant in the conditions of the current economic crisis caused by the full-scale war on the territory of Ukraine. To achieve the goal, general scientific methods were used: statistical and calculation-mathematical ‒ with the help of which all the necessary initial information for the analysis of the specifics of leasing operations was formed; analysis ‒ to assess its effectiveness using investment project effectiveness assessment indicators. Using the method of scientific generalization, the relevance of the topic in the conditions of the economic crisis was revealed. To form the basis of the research, first of all, the dynamics of the development of leasing in different countries was analyzed. The main results of the research, representing a scientific novelty, were: the developed mechanism for concluding and implementing a leasing agreement, analyzed the features of the state regulation of the leasing market of some leading countries of the world. Each country has its own national characteristics and differences in the implementation of leasing operations. International leasing relations at the same time include important elements of credit transactions, investment, rental and commercial activities, which are closely combined and interpenetrate with each other, forming a new organizational and legal form of business. International leasing can be considered a form of export-import of capital, since the reasons for capital migration are the reasons for the export and import of the leasing transaction. The practical significance of the obtained results is that the developed mechanism for concluding and implementing a leasing agreement can be used by both private enterprises and state institutions that conclude leasing agreements. In order to ensure the development of international leasing in Ukraine, it is necessary at the state level to support the development of leasing in general, to improve the current legislation in accordance with international leasing norms, to introduce investment tax benefits for the import of high-tech equipment.

Особенности регулирования отношений аренды государственных и муниципальных сельскохозяйственных земель в Центрально-Чернозёмном экономическом районе

The article examines the results of bidding for 2021-2022 for the right to conclude a lease agreement for agricultural land plots owned by the state or municipal in the Belgorod, Voronezh, Kursk, Lipetsk and Tambov regions representing the Central Chernozem Economic Region of Russia (CER). The analysis of the information posted on the state portal in the unified information system of the Russian Federation made it possible to assess the scale of transactions in these subjects of the Russian Federation on the basis of groupings of land plots sold at auction, by area, lease term, form of ownership. The results of past and failed transactions, transactions with one participant for the right to conclude a lease agreement are considered. The comparison of the initial and final rent for the lease of land plots per 1 hectare is carried out. The values of indicators that characterize the rental market – the capitalization coefficient and the capitalization period - have been studied during the auction. The participation and activity of legal entities, peasant (farmer) farms, and individuals in auctions for the right to conclude a land lease agreement are evaluated. The role of rent in the formation of the revenue part of the budgets of the studied subjects of the Federation is shown.

Legal regulation of tenant replacement in a lease agreement

Legal regulation of tenant replacement in a lease agreement

РОЛЬ ОБЩЕСТВЕННЫХ ОРГАНИЗАЦИЙ ОХОТНИКОВ И РЫБОЛОВОВ В ИСТОЩЕНИИ БИОРАЗНООБРАЗИЯ (НА ПРИМЕРЕ УСОЛЬСКОГО РАЙОННОГО ОХОТОБЩЕСТВА ИРКУТСКОЙ ОБЛАСТИ)

The article discusses real events related to the primary hunting community and the shadow features of hunting activities on the example of the Usolsky regional hunting society (hereinafter – Usolsky RO IOOOiR), which is a direct tenant of a forest plot in the forest fund of the Irkutsk region. It is shown that each hunter is not just a person engaged in amateur hunting, but a separate entity that fulfills the terms of the lease agreement and uses hunting resources, as well as a participant in security and biotechnical measures on the territory of hunting grounds attached to the hunting society. Also, an analysis is made of a number of economic features inherent in the Usolsky hunting society. The purpose and objectives of the research of the author and at the same time the chairman of the primary hunting collective are to determine the importance of public organizations of hunters and fishermen, as well as to present the economic inexpediency of hunting communities in fixed (leased) territories (on the example of the Usolsky RO IOOOiR of the Irkutsk region). The final results of the economic activity of any hunting community depend on the size and quality characteristics of the hunting grounds.

FORMATION OF THE REVENUE PART OF THE LOCAL BUDGETS OF UKRAINE UNDER THE CONDITIONS OF THE MARTIAL LAW

Purpose. The purpose of the article is to study the structure and volume of revenues of local budgets of Ukraine during martial law, comparing them with pre-war indicators to determine possible additional sources of revenue at the level of local self-government. Methodology of research. In the research process, general scientific and empirical methods based on a systemic approach were used. The methods of statistical data processing and grouping were used to analyse the dynamics of tax and non-tax revenues of local budgets, as well as the method of system analysis. Findings. The article examines and analyses the dynamics and structure of revenues of local budgets of Ukraine under martial law. The negative impact of a full-scale war on the revenues of local budgets, in particular on non-tax revenues, revenues from capital operations and inter-budgetary transfers, has been established. To ensure the financial stability of local authorities, the authors proposed reserve sources of income, such as the employment of internally displaced persons, the creation of new jobs, including through the relocation of business entities, the elimination of shortcomings in the management of communal enterprises and their removal from unprofitability, more effective management of land resources, in particular, review of existing lease agreements, inventory, systematic land accounting, timely review of rent, formation of a base of tax payers for land, etc. Originality. This article provides a detailed analysis of the influence of martial law on the formation of the revenue part of local budgets of Ukraine, taking into account the latest statistical data and legislative changes. In addition, a number of reserve sources of income for local budgets are proposed, which can be used to ensure the stability of financial resources in the conditions of martial law. Practical value. The results of this study can be used for the development of effective mechanisms for the formation of the revenue part of local budgets in the conditions of martial law and ensuring the stability of finances at the local level. Key words: local budgets, revenues of local budgets, tax revenues, non-tax revenues, revenues from capital transactions, inter-budget transfers

ФОРМИ ТА ПЕРЕВАГИ ІНКЛЮЗИВНИХ МОДЕЛЕЙ РОЗВИТКУ АГРОБІЗНЕСУ

The article is devoted to researching the scientific and applied foundations of building models of inclusive development of the agricultural sector and rural areas of Ukraine. Under modern conditions, the authors consider it expedient to consider increasing the level of inclusivity of agribusiness as a key strategic direction for achieving the goals of sustainable development of the national economy. Given the specifics and development trends of the agricultural sector of the Ukrainian economy, domestic agriculture can be defined as one of the most stable types of economic activity. In the future, agriculture may be able to provide the prerequisites for the revival of the national economy. In order to achieve this goal, it is necessary to find ways and tools for the implementation of inclusive development principles and models into agricultural practice. The set of advantages that the implementation of the principles of inclusivity in the practical activities of agribusiness structures can provide for all participants of the agri-food value chain is defined in this article. The main challenges and obstacles hindering the development of inclusive processes in agriculture are also identified here. Based on the study of foreign experience, the main forms of practical implementation of models of inclusive agrarian business were selected. Among them: models of contract farming; inclusive models of social farming; microfranchising; agricultural cooperatives, organizations and their group forms; public-private partnership; agricultural land lease agreements and agricultural management. Financial agrarian inclusion was defined as the economic basis for increasing the level of inclusiveness in the development of agriculture and rural areas. To characterize its content and nature in the methodological and practical plane, it was proposed to separate its four main dimensions, among them: 1) kinship, availability of financial resources and digital infrastructure; 2) increasing the efficiency of the use of financial resources; 3) inclusive regulatory agrarian and financial policy; 4) development of the potential of inclusive socially responsible agricultural investment.

Rationality of the Tax and Economic Behavior of Enterprises in the Russian Forestry Sector

The study focuses on the problem of rationality of economic entities, in particular the rationality of their tax and economic behavior in a given period. The data on enterprises in the Russian foreign sector are used to examine the relationship between the levels of rationality observed in their economic and tax behavior. The representative sample includes 1,206 micro-, small and medium-sized enterprises that specialize in logging, wood processing and wholesale timber trade and have forest lease agreements. The study covers the period from 2017 to 2021. Rationality of corporate behavior is understood as profit maximizing behavior or, in other words, as companies’ pursuit of maximum utility. Our theoretical review of the research on rationality in economic and tax behavior has led us to formulate the following assumptions. In economic behavior, rationality manifests itself primarily in companies’ efforts to improve the efficiency of resource use (labor, finance, and tangible assets). Rationality in tax behavior is associated with companies’ efforts to minimize their tax expenditures. Therefore, to assess the rationality of economic behavior, we used such indicators as labor productivity, return on own capital, return on borrowed capital, return on fixed assets, return on operating assets, business profitability, the stage of the lifecycle, and tax risk management. To assess rationality of tax behavior, we estimated the level of audit risk, that is, each company’s chances of being audited. Our study has confirmed the hypothesis that the rationality of tax and economic behavior has an inverse relationship. In other words, the more rational is the economic behavior of a firm, the less rational is its tax behavior. The strength of this relationship is impacted by three main factors: 1) the size of a business; 2) the level of opportunism; and 3) the type of activity. For the enterprises in the forestry sector covered by our analysis, we found that a change in the level of rationality of their tax behavior in 72.9% of cases leads to a change in the level of rationality of their economic behavior.

Социальный состав арендаторов священных земель в Аттике второй половины IV в. до н. э. по данным эпиграфики

The article assesses social composition of holy lands tenants in Attica of the 4th century B. C. Epigraphic material is an important source for the study of various spheres of society in the Athenian polis. There remain inscriptions on stone steles containing data on leasing of sacred lands (temenos) in Attica, dating back to the second half of the 4th century B. C. Using their data, the researcher can consider a number of issues related to the history of agrarian relations in ancient Athens. However, this material has not been used by scholars for studying history of land relations in the Athenian polis. Thus, the article is to analyze social composition of temenos tenants in Attica in the second half of the 4th century B. C. on the basis of epigraphic material at our disposal, to present their motives for the transaction. The article uses as its main source texts of agreements on lease of sacred lands in Attica, published in collections of epigraphic material by I. Kirhner and H. Pleket and cited in the scientific journal Hesperia. These inscriptions detail terms of lease of land plots dedicated to gods and heroes, name tenants, and (in some cases) indicate their rights and obligations. Based on the analysis of tests of sacred lands lease agreements, the author comes to the conclusion that tenants of sacred lands in Attica in the second half of the 4th century B. C. were citizens of the polis. Their comparative analysis with inscriptions concerning private land leasing in the same period suggests that in the sphere of private land ownership there were cases when tenants were meteks, who did not have civil status. Prosopographic analysis of the temenos tenants’ names allows the author to assume that many had noble origins and were very famous people in the polis. The author also underscores the fact that, in some cases, social composition of sacred lands tenants depended on location of the land plot. In the central areas, lands of the largest sanctuaries were dominated by tenants with a high social status. Temenos on the periphery or coastal lands were mostly leased to commoners. The article also attempts to identify motives of citizens with a high social status for participating in the lease. Apparently, this was, primarily, fulfillment of a kind of liturgy before the polis, which consisted in obligation to maintain sacred land ownership, which had a special meaning. In general, it is concluded that the majority of tenants of sacred lands in Attica in the second half of the 4th century B. C. were citizens, in some cases, of high social status, which indicates a special attitude to sacred land ownership in the Athenian polis, a desire to preserve and develop this land fund in the best traditions of the civil collective.

ОРГАНІЗАЦІЯ ОБЛІКУ ЗЕМЕЛЬНИХ РЕСУРСІВ ЗА ДОПОМОГОЮ СУЧАСНИХ ІНФОРМАЦІЙНИХ СИСТЕМ

The article is devoted to studying the theoretical and methodological foundations of organisation of accounting of land resources as an economic category with specifics of building primary, analytical and synthetic accounting. It identifies the components of the system of accumulation, systematisation, processing and analysis of economic information on quantitative, qualitative and legal nature of land use. Accounting acts as an information link between the national and sectoral levels and between the production and investment activities of an individual business entity, which allows for operational and strategic decisions on the further use of land as the main means of production in the agricultural sector. In order to improve the quality and reliability of information, financial accounting of land resources in the accounting and analytical information support system should be logically structured in certain areas, in particular: by type of land use (ownership, possession, lease) in the context of land users or landowners; by composition and types of land; by qualitative characteristics that can be formed using modern information programmes BAS AGRO, Accounting and Agri: Accounting. The article offers improvement of primary accounting in the formation of qualitative indicators of land resources, for disclosure of peculiarities of agricultural land in the accounting system. It is recommended to keep calculations of rent accrual in account 685.1 "Settlements with various creditors under land lease agreements". In order to systematically generate accounting information that is mandatory for analysing the state of use of leased land, and to increase the control function of off-balance sheet account 01 "Leased non-current assets", it is advisable to open additional subaccounts: 01.5 – leased property (property shares); 01.6 – leased integral property complexes; 01.7 – property subleased, etc. This information can be provided in specialised software. The advantages and possibilities of the software of land resources accounting and share calculations with the help of the programs "BAS AGRO. Accounting" and Agri: Accounting.

개정 주택임대차보호법의 문제점 및 개선방안

After the Housing Lease Protection Act is revised, the problems of revised Act was criticized by many people. At first, adoption of the tenant’s right of request for renewal of contract makes supplies of Chonse to reduce because existing tenants exercise the right of request for renewal of contract retroactively. In addition, when the landlord sells the house with the existing Chonse contract, the new owner of the house by buying the house cannot against with the existing tenant’s exercise the right of request for renewal of contract. Therefore, the landlord has difficulty to sell the house if the house has existing Chonse contract so they choose to live the house by themselves gradually. As the result, the portion of monthly rent is increased in the market and vicious circle which are increase of deposit money of Chonse, monthly rent fee and the tenant’s hosing expense is caused. Next, when a lease agreement is renewed, deposit may be increased within 5%. Therefore, the deposit money rises sharply because the landlord decides the deposit money when new lease agreement is made considering inflation rate, depreciation of the house and the increase ration comparing with the neighborhood during 4 years which are the period the landlord cannot increase the deposit money.
 These problems of revised Housing Lease Protection Act are caused from the application the Act to the every house of whole country all at once. Designation of region where the resident stability of tenant is required relatively strong and range of economical weak who cannot pay the increase deposit money and rent fee is required. When the Act is applied only to lease agreement which are made in the region and with the range of economical weak, the problems can be solved.
 For this limitation of the application of the Act, the following solutions are suggested in this article referring to the legislation cases of USA, England and Germany. First, deciding the standard of the area where the supply of the high quality house is insufficient and rent fee is increased sharply is required for every certain period. The Act needs to be applied only to these areas. Second, excluding application of limitation on increase of deposit money when the agreement is renewed or new agreement is made can be considered when huge improvement cost is invested into the house by the landlord. Third, excluding application of the Act when the agreement for the house where the rent fee is high or with the tenant who household income is over the certain standard can be considered. Forth, excluding application of the Act into the house where is vacant for certain period and evaluating the house again for every certain period can be considered. Fifth, providing the tenant who are regulated by the Act with a tax favor can be considered. Sixth, Reflection of inflation, improvement cost of the house needs to be considered when the limitation on increase of deposit money or rent fee is decided.

Directions of improvement of the organizational and legal procedure for leasing communal property

The article analyzes the algorithms of actions when concluding lease agreements for communal property, given in the "Procedure for leasing state and communal property", assesses the results of organizational and legal transformations of the procedure for leasing state and communal property, develops directions for improving the organizational and legal procedure for leasing communal property. Analysis of algorithms of actions when concluding lease agreements for communal property, regardless of who is the initiator of lease relations (potential tenant or authorized management body), as well as regardless of the rental object (single property complex or separate property, object from the List of the first or second type), did not reveal the presence of significant corruption risks, since the lease of state and communal property is carried out at transparent electronic auctions. Assessment of the results of organizational and legal transformations of the procedure for leasing state and communal property indicates the presence of a number of positive changes in this area, such as: the removal of hidden leases from the shadows, a positive impact on the sphere of interests of all stakeholders, a reduction in the duration of procedures, the possibility of free access to information and public control, growth and tracking of rental revenues to the state and local budgets. Among the shortcomings are the presence of negative dynamics of revenues from the lease of communal property to local budgets for the period 2018-2020 and the possibility of certain corruption risks in case of simultaneous claim of several persons for the lease of property without an auction. Based on the results of the study, measures were developed to improve the organizational and legal procedure for leasing communal property in the following three areas: minimization of corruption risks in the lease of communal property without auctions, elimination of shortcomings in the functioning of se "ProZorro.Sale", increase of revenues from the lease of communal property to local budgets.

NON-COMPETE AGREEMENTS: CIVIL LAW ASPECT

The article is devoted to the problems of legal regulation of non-compete agreements in the civil law of Ukraine. The author considers non-compete agreements as one of the types of negative obligations. Emphasis is placed on the insufficient regulation of the research subjects in the national legislation. The author outlines the range of civil law contracts in which non-compete clauses are used in practice. The content of non-compete clauses in supply, distribution, agency, and lease agreements has been clarified. It is indicated that the ban on competition may concern the list of goods, the price of sale to other buyers, the territory of distribution of goods, counterparties under contracts. It is emphasized that transactions concerning the conclusion of non-compete agreements can be disputed on the basis of violation of the principle of freedom of contract, freedom of entrepreneurial activity, restriction of civil capacity, and unlawful restriction of competition. The author proposes to apply to non-compete agreements the doctrine of reciprocal provision, which is the property of the Anglo-American legal family. Accordingly, the presence of material compensation of the obliged person in non-compete agreements ensures a balance of the interests of the parties. The possibility of applying the legal provision of Part 3 of Art. 538 of the Civil Code of Ukraine on stopping or refusing to fulfill the counter obligation in case of violation of the non-competition condition is analyzed. The author emphasizes that the main effect of the violation of the non-compete agreement is the failure of the creditor to receive the income he was counting on. Since recovery of lost profits is problematic in national judicial practice, a proposal is put forward to take into account the possible amount of lost income when determining compensation for non-competition. Non-competition agreements are characterized as negative obligations that are characterized by an intangible object, indivisibility, duration, personal nature, and the impossibility of forced performance in kind.

Act on Appropriate Management of Rental Housing and the Right to Demand Rent Reduction in Master Lease Agreement：

Act on Appropriate Management of Rental Housing and the Right to Demand Rent Reduction in Master Lease Agreement：

Advances in Financial Leasing Mechanism Designs

Financial leasing contracts usually include specific clauses for early termination of the agreement in the event that the lessee defaults. The lessor might, therefore, not immediately ask for termination of the financial lease agreement in order to take advantage of the increment in fees accrued due to the default interest. The analysis presented in this work aims to find the conditions determining the optimal time to rescind the contract, when the arrears’ interest rate is higher than the outstanding fees’ interest rate established in the contract and when the return of alternative investments is deterministic. In this paper, we study the optimal time for advanced termination of a leasing contract to maximize the wealth of the lessor against the natural expiry of the contract. We prove that the optimal time can be found through the intersection of the instantaneous force of interest of a lessor’s credit at a certain date and the instantaneous force of interest of the opportunity cost of capital, or at the initial date or maturity date. To this end, we provide a detailed list of cases in which it is appropriate to terminate the contract or not. The problem is formulated in the case where the opportunity cost follows deterministic and semi-deterministic dynamics.

RENEWAL OF THE CONTRACT FOR LEASE OF A LAND PLOT UNDER THE CONDITIONS OF MARTIAL LAW IN UKRAINE

In the conditions of martial law, introduced by the decree of the President of Ukraine No. 64/2022 of February 24, 2022, all social relations have undergone significant changes. Civil law is no exception, which in turn is one of the main ones in the process of functioning and development of the state. The factors that influenced the deformation of social relations include both subjective and objective factors. This was expressed in the physical impossibility of the functioning of certain state mechanisms and institutions, the duties of which are to provide citizens with a certain number of rights and opportunities. Therefore, the purpose of the article is to study the peculiarities of the process of renewal of the land lease agreement under special conditions, namely during martial law. The work used the method of analysis and synthesis, comparison, deduction, generalization. As a result, it was possible to reveal the content of the land lease agreement, as well as its original provisions. In addition, the legal framework that regulates the field of land lease, as well as the obligations of the parties to such a contract, has been researched. An important part of the work was the study of legislative innovations that changed the procedure for renewing the land lease agreement. Based on this, the meaning of the concept of “expression of will” was studied and possible ways of renewing the contract without proper expression of will of the parties were considered. In addition, the external conditions that influence this process and can negatively affect the legal position of the lessor or lessee are investigated. It is important that, in addition to the identified shortcomings in the new norma­tive legal acts, recommendations for their elimination and resolution were formed in the work. To a greater extent, changes should be made to some laws regulating land relations, in particu­lar land lease agreements. The practical value of the work is revealed in the fact that it can be used both by ordinary citizens to protect their rights and fulfill their duties, and by legislators in order to eliminate regulatory conflicts characteristic of the current legislation.

Dealing With the Unpredictable: The Impact of the Covid-19 Crisis on Lease Agreements in the Italian and Japanese Legal Systems

Lease contracts have been among the most affected by the economic effects of the pandemic in many countries around the world. Measures aimed at containing the virus and the economic crisis following Covid-19 impacted the solvency of individuals and businesses and restricted or prevented access to business premises for some time. This has resulted in delays and defaults in rent payment and claims for rent reduction. The Japanese and Italian legal systems have both addressed these issues by adopting different approaches. This article aims at comparing both systems, by testing the adequacy of the legal provisions in dealing with the consequences of the Covid-19 crisis. An important role in this regard has been played by the respective doctrines of changed circumstances. The article shows how the rules of the Italian legal system have not proved adequate, have brought about considerable litigation, which in turn has led to conflicting judgments. On the other hand, the Japanese legal system seems to have responded better, as litigation has been more limited and court decisions have been based on uniform principles and rules. The comparison of the two legal systems suggests that the best rules to govern supervening circumstances are those which favour a case-by case please insert caseby- case assessment and encourage spontaneous renegotiation of the contract. The article also raises the question of whether predictability should always be regarded as a value in our legal systems and whether the law is moving toward a more contextual approach.