Type Of Contract Research Articles

Correct-by-Design Interacting Smart Contracts and a Systematic Approach for Verifying ERC20 and ERC721 Contracts With VeriSolid

Blockchain-based smart contracts enable the creation of decentralized applications, which often handle assets of considerable value. While the underlying platforms guarantee the correctness of smart-contract execution, they cannot ensure that the code of a contract is correct. Today, as evidenced by a number of recent security breaches, developers still have a hard time making contracts that work properly.Even though these incidents often exploit contract interaction, prior work on smart-contract verification, vulnerability discovery, and secure development typically considers only individual contracts in isolation. To address this gap, we introduce the <small>VeriSolid</small> framework for the formal verification of contracts that are specified using a abstract state machine based model with rigorous operational semantics. Our model-based approach allows developers to reason about and verify the behavior of a set of interacting contracts at a high level of abstraction. <small>VeriSolid</small> allows the generation of Solidity code that is functionally and behaviorally equivalent to verified models, which enables the creation of correct-by-design smart contracts. We additionally introduce a graphical notation (called <i>deployment diagrams</i>) for specifying possible interactions between contract types. Based on this notation, we present a framework for the automated verification, generation, and deployment of contracts that conform to a deployment diagram. To demonstrate the applicability of <small>VeriSolid</small>, we translate existing Ethereum Improvement Proposal (EIP) specifications to temporal properties for two of the most popular contract interfaces: ERC20 and ERC721. We also show you how to write code for the ERC20 and ERC721 interfaces in a way that is safe, and we do this by using <small>VeriSolid</small>. We evaluate our framework on 726 contracts that are currently deployed on the Ethereum blockchain, which include 267 ERC20 and 459 ERC721 contracts. Our experiments indicate that 18&#x0025; of ERC20 contracts and 4&#x0025; of ERC721 contracts fail to satisfy the EIP specifications.

Sharia Compliance and Economic Efficiency in Minangkabau Traditional Sharecropping

Islamic financing contracts currently marketed in Indonesia use Arabic terminology that might sound strange to many Indonesian Muslims. Even though these financing contracts comply with the sharia components, they may be inefficient in the context of local wisdom. This paper identifies traditional contracts that are potentially modified to become sharia compliance. We analyzed the traditionally practiced business contracts of sharecropping in Minangkabau West Sumatra and tested whether the contracts fulfilled sharia compliance and economic efficiency. We interviewed seventy practicing sharecroppers and fourteen local leaders and clerks to seek their perceptions about two types of Minangkabau traditional contracts of paduo and patigo, regarding economic efficiency, fairness, and sharia compliance. We found that the respondents in general believed that the practiced sharecropping contracts fulfilled most of the sharia requirements. However, the need for the written agreement, presence of witnesses, and definite duration were unsatisfactory to avoid gharar. The majority of respondents believed that the contracts were fair but inefficient. Modification of contracts in terms of proper legal drafting, presence of witnesses, and finite duration is necessary. The modified contracts will be beneficial to support the emergence of formal Islamic financial institutions which are culturally compatible.

Is CISG Applicable and Suitable in Service Contracts?

Purpose – This paper studies whether CISG can be a suitable governing law for pure service contracts. When CISG was first drafted, there was little disagreement on the fact that contracts for the sale of goods and those for the provision of services were two different types of contract. Based on this understanding, CISG explicitly provides that the Convention will apply to contracts where the preponderant part of the contractual obligation is on the sale of goods, not services. However, as more sales transactions have come to include more elements of services, mainly due to the advancement of the IoT industry, the distinction between goods and services became more blurred. Based on the observation of recent changes, some scholars even argue that such a change supports the applicability and suitability of CISG to even pure service contracts. The purpose of this paper is to critically analyze and evaluate their argument. Design/methodology – This paper focuses on two separate but related issues: CISG’s ‘applicability’ and ‘suitability’ to service contracts. For the first issue, this paper will examine the rules of interpretation of international treaties under the Vienna Convention on the Law of Treaties of 1969, and will apply its rules to find the proper answer. For the second issue, this paper will perform logical and empirical analyses on the reasoning employed by scholars claiming the suitability of CISG to service contracts. Findings – This paper concludes that CISG does not, and should not, apply to pure service contracts. The argument that CISG applies to pure service contracts directly contravenes Article 3(2) of the Convention, which expressly states that it does not apply to a contract wherein the preponderant part of its obligation is about services rather than sales. Similarly, CISG is not a suitable governing law for pure service contracts because it aims provide rules specifically tailored to the needs of transactions of sales of goods, not services. Servitization of sales of goods transaction does not change this conclusion. Originality/value – This paper presents different views from those offered by some eminent scholars on the issue of applicability and suitability of CISG to service contracts. By doing so, it is hoped that the confusion caused in discussions so far are clarified. Hopefully, this paper can also provide practical guidance to practitioners engaged in the fields of international sales, services, and IoT industries.

To the issues of legal regulation of nft-tokens as virtual benefits

Introduction. This scientific article dedicated to certain aspects of such virtual benefits/assets as the NFT token (non-fungible token) and place of them in the obligations relationship. The legal framework and legal practice regarding non- non-fungible token is currently absent, which is a characteristic situation not only for domestic jurisprudence, but also for the world. In view of the above, there is a need to investigate the nature of this phenomenon. Summary. The article analyzes the proposed legislative definition of "virtual asset" in relation to the NFT token. The study of individual features of this phenomenon makes it necessary to turn to its displayed technical characteristics at the current stage. Yes, it is determined that the NFT token performs an authentication function and cannot exist independently without its attachment to another object of civil rights. Without such a combination, exclusively as a code (a set of signs), the token cannot be regarded as an intangible (virtual) benefits, since the token certifies a subjective right to another object of civil rights, and therefore should be considered precisely as an asset (benefits), which has a providing nature. Attention is focused on the fact that one of the main problems of legal uncertainty in this category is the question of what exactly individuals acquire when buying an NFT token, since in fact the token is usually associated with another object, which gives it a real value. The relationship between the non-fungible token and the start-contract was analyzed and the possible legal consequences of their interaction determined. Conclusions. Non-fungible tokens exist in a decentralized system and are closely related to the smart contract already at the stage of their creation, therefore, provided there are no imperative requirements from the law, the latter can be considered as a type of civil law contract, which, in turn, due to constant interaction the connection between them makes it possible to single out certain features of the binding nature of this phenomenon.

Characteristics of the job demands of healthcare workers in different segments of the healthcare sector

Healthcare workers are exposed to various demands at their workplace (physical, psychological, social or organizational aspects of work) that impose constant physical and/or psychological effort on a worker. The aim of this study was to determine the characteristics of the job demands of healthcare workers in different segments of the health sector in RNM, categorized into three groups: healthcare workers in hospital activity, healthcare workers in outpatient activity and technical support and administrative staff. Material and methods: This is a cross-sectional descriptive-analytical study, in which 418 employees participate, classified into three groups according to their work tasks in health institutions: healthcare workers in hospital activity, healthcare workers in outpatient activity and technical support and administrative staff. The statistical analysis has been done in statistical programs: STATISTICA 12.0; IBM SPSS Statistics 20.0, and the processed data are presented in tabular forms. Results: The difference among the three groups of respondents in terms of the following demographic characteristics and job characteristics: gender, marital status, type of employment contract, total years of service, length of service at the current workplace and number of working hours per week, is insignificant, i.e. the three groups of respondents are homogeneous on these issues. The average value of the physical job demands at the level of the entire analyzed sample is significantly higher compared to the average values of all other job demands. The most common job demands for each of the groups (physical, organizational, emotional and cognitive job demands) have been determined, and a comparison has been made among the three groups of respondents regarding the most significant job demands. Conclusions: The difference registered in the physical job demands in relation to the three groups of respondents is statistically significant. Healthcare workers in hospital activity, compared to the technical support and administrative staff and the healthcare workers in outpatient activity, are more exposed to the different types of job demands. The higher average values of the physical job demands among respondents employed in hospital activity and outpatient activity in relation to technical support and administrative staff are also highlighted.

Consumers’ Protection Under Murabahah Sale Contract

Murabahah is one of the contracts of sale of goods by a person to another under an agreement whereby the seller obliges himself to disclose to the buyer the cost of goods sold to the buyer, whether that is on a cash basis or deferred payment. The seller has to disclose to the buyer the margin of profit included in the sale price of goods agreed to be sold. It is a cost-plus markup sale, which is the ideal sale contract under Islamic Law. The basic theme of this research paper is to highlight the significance of the contract of Murabahah as a simple contract for the protection of consumers and not as a model of financing, which is prevalent in today’s Islamic banks. It aims to highlight its role in different types of sale contracts and its application to the sale of some major commodities. Both aspects of Murabahah, i.e., Murabahah as a simple sale contract for the protection of consumers and Murabahah financing, are discussed. The paper aims to explain how a simple Murabahah Contract protects the interest of consumers better than any other sale contract.

Commercial and legal conditions for the organization of sea passenger transportation

This article explores current trends and prospects in passenger cruise ship chartering. In light of events in recent years, including the global COVID-19 pandemic, the cruise industry has faced serious challenges, prompting companies to look for new approaches to support their operations. The article examines different chartering models, including long-term and short-term agreements, as well as the possibility of sharing vessels between operators. Two organizational and legal forms of operation of marine passenger ships are considered in more detail: liner and cruise. Formalized and provided a schematic representation of the process of interaction of the participants of sea passenger transportation in various forms of ship operation. The interaction schemes of the shipowner, the charterer and the managing agent are described. The interaction technology of the participants in the passenger transportation process is considered in the context of the types of ship charter contracts. Differences in technological processes of interaction of participants in the process of organization and provision of sea passenger transportation, distribution of responsibilities, risks, costs and income in the organization of sea passenger transportation according to various schemes of interaction of participants are given.

Role of Cargo Owner in Logistic Chain Sustainability

Understanding the factors and characteristics of the business and the influence of cargo owners on sustainable practices in maritime logistics chains is the main objective of this study. The sample consists of 141 valid responses from Portuguese companies that own cargo, freight forwarders and other maritime logistics service providers. Sustainable energy theory, green state theory, and shared value creation theory support the research. The SEM methodology was adopted. The sector’s structure, management characteristics, type of transport contract and the size of the cargo characterize and condition the business of cargo owners and influence the choice of green transport, the use of green fuel and corporate social responsibility. It is important to increase the knowledge and practice of cargo owners in order to understand their business constraints.

Contract for the purchase and sale: legal aspects

The article is devoted to the particularities of the contract for the purchase and sale. The authors draw attention to a number of aspects of legal regulation that are insufficiently researched and definitely debatable, which are primarily related to the definition of the range of essential conditions of the contract for the purchase and sale. The authors also made an attempt to establish separate problems of legal regulation of the contract for the purchase and sale. The article analyzes the signs of the contract for the purchase and sale, reveals the content of this type of contracts, pays attention to the legal nature of the contract for the purchase and sale, examines the complex and multifaceted issues related to the subject of the contract for the purchase and sale in modern conditions of the development of civil law. The subject of the contract for the purchase and sale is recognized by law as an essential condition for all types of contracts. The subject matter can be any property that the seller has at the time of the conclusion of the contract, property rights and “future things” (ie, property that will be created by the seller in the future). Attention is drawn to the fact that the contract for the purchase and sale is consensual, bilateral (mutual), retaliatory by its legal characteristics. The authors draw attention to the types of the contract for the purchase and sale. Certain types of the contract for the purchase and sale include retail sales contract, goods supply contract, goods supply contract for state needs, contract for contracting agricultural products, energy supply contract, real estate sale contract, mine contract. The article also defines the peculiarity of the contract for the purchase and sale, which is that the specified contract is the main regulator of relations between producers and consumers, legal relations in the field of distribution and redistribution of material goods, ensuring the free and optimal development of all forms of ownership, entrepreneurship and trade. The norms of the Civil Code of Ukraine, which regulate the investigated issues, were analyzed.

Legal regulation of insurance relations under martial law: force majeure

The article examines the specifics of the legal regulation of insurance relations in the conditions of martial law and the functioning of the insurance services market under the conditions of force majeure. On the basis of the analysis of scientific literature, regulatory legal acts, norms of current civil legislation and court practice, the peculiarities of providing insurance services under the condition of force majeure in the conditions of martial law were investigated.&#x0D; The destruction of the housing stock and infrastructure, significant damage, which became the inevitable consequences of the war in Ukraine. It was established that the insurance institute is one of the effective mechanisms aimed at providing compensation and compensation for losses to citizens as a result of military operations. Insurance is aimed at protecting the property interests and safety of both individuals and business entities.&#x0D; It is noted that the occurrence of insurance events related to the loss of housing stock and other property by citizens of Ukraine as a result of military operations after February 24, 2022, should not be a reason for refusing to pay insurance compensation.&#x0D; It is proven that the introduction of the legal regime of martial law with the beginning of the war involves the possibility of limiting the constitutional rights and freedoms of a person and a citizen, the rights and legal interests of legal entities. At the same time, the fact of the introduction of martial law should not affect the validity of any transactions, including the validity of insurance contracts, and all rights and obligations of the parties remain valid.&#x0D; Insurance contracts are valid regardless of the introduction of martial law in Ukraine, with standard force majeure clauses that apply to other types of contracts.&#x0D; It is noted that the war in Ukraine belongs to force majeure circumstances (circumstances of irresistible force). It is established that insurance does not constitute any exception in the context of force majeure. It is noted that the parties to the insurance contract may refer to force majeure as a basis for releasing them from liability for non-fulfillment of the terms of the contract.&#x0D; In order to improve insurance activities during the period of martial law, the National Bank, as a regulator in the market of insurance services, on February 27, 2022 recommended to insurers to simplify the procedure for settling cases that have the characteristics of insurance, by making maximum use of electronic documents and copies of necessary documents in case of impossibility or complications the possibility of obtaining their originals, as well as using other means of remote settlement of insurance cases.&#x0D; Based on the results of the research, it is summarized that the market of insurance services in Ukraine during the period of martial law should work taking into account the emergence of new challenges.

Contracts and Agreements as Grounds for Expenditure Obligations: A Legal Aspect

The paper analyzes the provisions of the Budget Code of the Russian Federation, stipulating that expenditure obligations in the Russian Federation arise, among other things, as a result of the conclusion of contracts and agreements. The study revealed that the provisions of the Budget Code of the Russian Federation contain broad definitions that allow for the emergence of expenditure obligations from contracts that do not have regulatory properties, in particular from contracts concluded on behalf of a public legal entity by a state institution. The paper substantiates that such regulation does not take into account the legal standing of the Constitutional Court of the Russian Federation according to which the expenditure obligation must be established in a normative form. It is revealed that the budget legislation regarding the regulation of expenditure obligations is not synchronized with the legislation regulating the organization of public power. The paper provides arguments proving the need to specify that only public law contracts should act as the grounds for the occurrence of expenditure obligations. According to the results of the study, it is proposed to adjust the Budget Code of the Russian Federation in terms of specifying a specific list of types of contracts and agreements, because of which expenditure obligations arise.

Subjective mental workload in Spanish emergency nurses. A study on predictive factors

Introduction: Mental workload refers to the cognitive or intellectual requirements that a worker is subjected to in a workday. The objective of the present work was to discover the subjective mental workload of nursing staff at Hospital Emergency Units, and its relationship with sociodemographic, work, environmental factors at the workplace, and personality variables. Method: A quantitative, descriptive, observational, and crosssectional study was conducted with 201 emergency nurses from 13 different provinces in Spain. Each participant completed 5 questionnaires (sociodemographic, work conditions, environmental conditions, personality, and subjective mental workload). Descriptive statistics were obtained, and Pearson’s correlations and multivariate models (multiple linear regression) were performed. Results: The nurses had medium to high levels of mental workload. The environmental conditions had a direct relationship with the mental workload, especially with respect to noise and lighting. The participants obtained high scores in kindness, responsibility, openness/intellect, and extraversion. Positive and statistically significant relations were found between neuroticism and mental workload. Being female, older, and having stable employment or a permanent contract were associated with a greater mental workload of emergency nurses. Conclusion: The domain of neuroticism personality, and the hygienic conditions in the workplace were the predictors with the most weight in the model. This study could be useful for defining aspects that need to be considered for the well-being of emergency nurses, such as lighting conditions or environmental noise in the workplace. It also invites reflection on the influence of personal factors (age, gender, personality) and work factors (type of contract, professional experience) on the mental workload of emergency nurses.

Optimal Contract Design for a National Brand Manufacturer Under Store Brand Private Information

Problem definition: We study an optimal contract design problem for a national brand (NB) manufacturer, which sells her product via a retailer. The retailer may introduce his store brand (SB) with private cost information. The manufacturer estimates that the retailer’s SB cost may be high or low with certain probabilities and offers a menu of two-part tariff contracts to screen the retailer’s cost information. Methodology/results: Following the mechanism design theory, we formulate the problem as a two-stage screening game to analyze the strategic interaction between the two players under asymmetric information. Despite the complexity resulting from type-dependent reservation profit of the retailer, we derive the NB manufacturer’s optimal contracts analytically. We prove that there exists a unique threshold such that when the NB cost is below the threshold, the manufacturer offers both types of retailers incentive-compatible contracts; when the NB cost is above the threshold, the manufacturer offers a menu of contracts to shut down the low-type retailer and engage the high-type retailer only. Managerial implications: We find that when the NB product becomes more competitive (i.e., a higher quality or a lower cost), both the NB manufacturer and the retailer are better off. This result implies that under asymmetric information, the retailer has incentive to enhance the NB product quality or reduce its cost. Additionally, the private information is valuable to both members only when a contract without shutdown is offered. Moreover, such information is more valuable to both players when the NB product becomes more competitive. However, when SB quality improves or when SB cost decreases, the value of information may increase or decrease to both supply chain members. Finally, we derive a surprising result that under asymmetric information, the expected consumer surplus may increase because of a lower SB quality or a higher low-type SB cost. Funding: G. Xiao acknowledges financial support from the Research Grants Council of Hong Kong [General Research Fund Grant PolyU 15505621]. Supplemental Material: The online appendix is available at https://doi.org/10.1287/msom.2021.0187 .

Fiscal Regime in Petroleum Licensed Contracts

Fiscal regimes in petroleum licensed contracts are defined as the tools through which the return on oil wealth fellow into the state treasury, it includes several forms according to the type of contract, so, the most common fiscal tools are: royalty, taxes, profit oil or rents. This work makes a comparison between the fiscal regimes in common types of petroleum investment agreements and the difference between them according to the state share and contractor share. The main types of these regimes are concessionary and contractual agreements and the last include two types: production sharing and service agreements. However, Algerian, Syrian, Iranian &amp; Iraq will be examined as example for each type respectively, The study relies on a comparison between the items of the fiscal regime and the tools through which resource revenues flow to the public treasury as well as the share of the contractor or the company that holds the concession. Therefore, a model of fiscal regimes has been conducted for the above contracts to show the difference between the fiscal flows of each country according to the type of contract and the fiscal tools in it as royalty, taxes and others. The study demonstrated that the contracts vary in revenue ratios depending on the sale price of oil and the cost of extraction. Finally, we can clearly infer that the share of both the company and the state is affected by the above circumstances in a high or slight sensitivity, There is no particular type can be considered the best, as preference depends on the special circumstances of countries, for example, the Iraqi situation is difficult to use concession contracts for several considerations, including constitutional, where the Constitution of the Republic of Iraq specified the ownership of the people's oil wealth and this property cannot be relinquished to the investing companies and so on the rest of the countries, but it can be hybridized between some systems to obtain financial instruments that achieve the best choice for the parties (state and IOCs).

Sharia Economic Transaction Academic Effectiveness on the Level of Community Well-Being

The purpose of this study is to establish the level of public understanding on the use of Sharia economic transaction contracts to improve people's welfare on a regular basis. Purposive sample of 58 respondents was utilized in this quantitative descriptive study. Multiple regression analysis is used in the study approach, with SPSS 23.00 as a data analysis test tool. In this study, observations, questionnaires, and interviews were the primary data collection methods. Secondary data is provided by the Central Bureau of Statistics and the Ministry of Religion. According to the findings of this study, many types of Islamic economic transaction contracts have had a significant impact on the degree of social welfare thus far, indicating that society is becoming increasingly massive with the principles of Murabahah, Salam, Ijarah, and Mudharabah.

Consignment inventory shrinkage in general and physician preference medical supplies: An empirically‐grounded analytical investigation

AbstractThe cost of medical supplies represents a significant portion of hospital spending. Hospitals manage different types of medical supplies, such as general medical supplies and physician preference items. General medical supplies tend to be numerous and relatively low cost, while physician preference items tend to be less numerous and more expensive. Strong physician preference for certain medical supplies can limit the options available to reduce inventory costs. The use of consignment inventory is one way in which hospitals seek to reduce inventory costs for both general supplies as well as physician preference items. However, the use of consignment reduces the level of oversight that hospitals have on consigned inventories, thereby potentially increasing the likelihood of shrinkage. The impact of consignment on shrinkage cost has received limited attention. We investigate this issue by drawing upon the precepts of agency theory and by analyzing hospital data that span multiple years. Our results suggest that the use of consignment increases shrinkage and spend. We develop empirically informed analytical models to better understand the impact of an unforeseen increase in shrinkage on the cost associated with general and physician preference items. The analytical investigation suggests that the impact on general and physician preference items differ depending on the type of consignment contract negotiated between a hospital and a vendor. We discuss the theoretical and managerial implications of our findings.

How to finance the supply chain when you are small? Clearance sale and loan payment timing in financially constrained supply chains

Before inventory can be put into shelves at a retailer, it needs to be produced, which takes time. During this time traditionally the supplier had to cover the money bound in inventory, but new paradigms, such as supply chain finance, change who pays for work-in-process inventory. While this opens new possibilities for smaller, financially constrained suppliers, it puts additional financial pressure on the retailers. So, it may exclude smaller retailers, which are also cash constrained. If demand fluctuates then they may even have to recur to clearance sales to repay the loan. This study provides guidance to these small retailers on which clearance sale strategy to adopt, and when to repay their loans, investigating the interaction between both decisions using Stackelberg game framework in a dyadic supply chain where the supplier is the Stackelberg leader. It considers multiple bank interest rates and contract types chosen by the supplier. Results show that the retailer’s optimal order quantity decreases by adopting a limited clearance sale model for leftover disposal if it pays its loan immediately after the normal selling season. If it decides on loan payment after clearance sale, its optimal order quantity is not influenced by the clearance sale strategy, and we further demonstrate that the retailer’s optimal order quantity, loan payment timing, and expected profit are influenced by the supplier’s chosen contract. We find that buyback (BB) and revenue sharing (RS) contracts coordinate the supply chain only if the retailer resorts to a bank loan for inventory procurement.

Machine Learning Predictive Models Analysis on Telecommunications Service Churn Rate

Customer churn frequently occurs in the telecommunications industry, which provides services and can be detrimental to companies. A predictive model can be useful in determining and analyzing the causes of churn actions taken by customers. This paper aims to analyze and implement machine learning models to predict churn actions using Kaggle data on customer churn. The models considered for this research include the XG Boost Classifier algorithm, Bernoulli Naïve Bayes, and Decision Tree algorithms. The research covers the steps of data preparation, cleaning, and transformation, exploratory data analysis (EDA), prediction model design, and analysis of accuracy, F1 Score, receiver operating characteristic (ROC) curve, and area under the ROC curve (AUC) score. The EDA results indicate that the contract type, length of tenure, monthly invoice, and total bill are the most influential features affecting churn actions. Among the models considered, the XG Boost Classifier algorithm achieved the highest accuracy and F1 score of 81.59% and 74.76%, respectively. However, in terms of efficiency, the Bernoulli Naïve Bayes and Decision Tree algorithms outperformed XG Boost, with AUC scores of 0.7469 and 0.7468, respectively.

Equity Crowdfunding: Financing Instruments MSMEs Compilation of Perspective Sharia Economic Law

This study aims to analyze financing instruments for micro, small and medium enterprises (MSMEs) through equity crowdfunding and examine equity crowdfunding in the perspective of compilation of Sharia economic law (KHES). This type of research is descriptive qualitative research, namely research that seeks to describe and explain the data obtained with secondary data. This study uses a literature research approach, where the data sources are obtained from literature studies and various kinds of literature that are worthy of discussion, including the study of OJK Regulation No. 37/POJK.04/2018 and DSN MUI Fatwa No. 117 /DSN-MUI/II/2018. The results of this study indicate that the financing instrument carried out contains business actors, investors and fund distribution institutions. While the review of Islamic economic law regarding equity crowdfunding leads to 2 types of contracts, namely mudharabah and musyarakah contracts that can be used as references.

كلمة العدد (إنجليزي)

كلمة العدد (إنجليزي)