Thesis (doctoral)--Universität Rostock.

Thesis (doctoral)--Ruprecht-Karl-Universität in Heidelberg.

The purpose of this thesis is to examine, from a comparative perspective, the legal treatment of stipulated damages clauses in the common law and in French civil law. First, we will see that this clause has endured a turbulent legal history in both legal traditions. The French civil law and the common law have reflected at great length on the appropriate legal response to such clauses---essentially, on whether, and if so when such clauses should be enforced or prohibited. / Second, this thesis will analyse the practical roles that these clauses have played in the two legal traditions, which will illuminate further differences between their respective approaches. Emphasis will be placed on the difficult question, which has arisen in both legal systems, of defining the notion of stipulated damages clauses and of differentiating them from other institutions, such as deposit clauses. / Third, the evaluation of these two legal systems will facilitate the contention that the approach of the French civil system is, in most cases, preferable to the solution adopted by the common law. Nevertheless, it will be seen that each legal tradition could benefit considerably from careful examination of the other's treatment of these clauses.

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The thesis consists of three essays. In the first essay, the strategic effects of bonus/penalty compensation contracts are analysed. This essay consists of the first three chapters of the thesis. In Chapter 1, viewing each firm as a "principal-agent" pair, we examine firms' rivalry in bonus/penalty contracts in oligopolistic markets when the agents are risk-neutral. Under standard assumptions concerning production, demand, and cost functions, we show that bonus/penalty contracts may be used for strategic purposes. We find that whether agents' actions would (in equilibrium) be encouraged through bonuses or discouraged through penalties would critically depend on the existing strategic relationships between agents' actions or firms' products. We further show that firms' capita] stocks can affect their strategic positions in the bonus/penalty rivalry. The social welfare implication of the bonus/penalty rivalry is also examined. In Chapter 2, using a general framework of rivalrous agency with risk-averse agents, we identify two distinctive effects of bonus/penalty contracting, namely, the strategic effect and the incentive effect. We find that the two effects may or may not work in the same direction for a principal-agent pair, depending on the nature of strategic relationships between agents' actions. In Chapter 3, we compare the strategic effects of bonus/penalty contracts with that of linear contracts. We find that, if only one principal is active in designing agency compensation contracts, then he/she would be indifferent between a bonus/penalty contract and a linear contract. If both principals are active in designing agency contracts, however, the choice between bonus/penalty and linear contracts would in general matter to the principals. In particular, we show in an example that both principals would non-cooperatively choose a bonus contract over a linear contract. The second essay of the thesis, as in Chapter 4, presents an analysis of common sales agents based on their precommitment role when consumers are imperfectly informed about the products on the market. We show that an exclusive channel stucture can create a cost due to exclusive channels' inability to commit themselves to sales impartiality. We further show that independent non-cooperative firms may use common agents as a precommitment device to convince potential consumers that the risk of being misrepresented has been reduced or eliminated. We demonstrate that a market involving common sales agents can arise as an equilibrium outcome. Our analysis shows that common sales agents can be welfare improving for both firms and consumers. The third essay, as in Chapter 5, investigates the dynamic pattern of firm competitive conduct, using time-series and firm-specific data for a set of duopoly airline routes. We estimate the mean conduct parameters for each firm and each period, and infer whether the data are consistent with the Cournot, Bertrand, Friedman, or Green-Porter models. We find that airlines' competitive behavior may switch between the competitive and collusive regimes. Moreover, we find that airline profits in a collusive period appear less than the (single-period) monopoly profits, and the degree of overall market competitiveness is between the Cournot and monopoly solutions but closer to the Cournot solution. Our data suggest that major carriers might use quantity volumes, rather than prices, as their strategy variables. We also conduct some Bayesian analysis of seeing how our results would influence priors associated with different models. We illustrate a model choice criterion based on Bayesian analysis and use the criterion to choose the "best" model among competing models. / Business, Sauder School of / Graduate

University of Macau / Faculty of Law

In this thesis the position of parties under a fixed-term agreement under section 14 of the Consumer Protection Act 68 of 2008 is analysed critically. The purpose of this thesis is first to establish whether parties to a fixed-term agreement are better protected in terms of section 14 of the CPA when the consumer needs to terminate the contract based on the material failure to perform by the supplier, than under the common law. Second, this thesis explores whether the maximum duration of fixed-term agreements should be limited by statute. Various aspects affecting parties to these agreements, for instance the freedom to contract, pacta servanda sunt, and standard-form agreements, are considered. The South African position is then compared to the position in Singapore under the Consumer Protection (Fair Trading) Act, and to the United Kingdom under the Consumer Rights Act, to gain perspective and objectively evaluate the provisions of section 14 of the Consumer Protection Act 68 of 2008 to establish whether South Africa can benefit from lessons learnt from these jurisdictions. Finally, principle-based amendments to the provisions of the CPA are recommended to improve the position of the consumer under fixed-term agreements to effect best practice solutions and ensure adherence to the aims and purposes of the Consumer Protection Act 68 of 2008 and international guidelines. This thesis is based on the law as at 18 June 2020, found in sources available in South Africa, and Singaporean law available in the database of the National University of Singapore. / Hierdie proefskrif is ’n kritiese analise van die posisie van partye tot vastetermynkontrakte ingevolge artikel 14 van die Suid-Afrikaanse verbruikersbeskermingswetgewing, die Consumer Protection Act 68 van 2008 (CPA). Die doel van die analise is eerstens om vas te stel of partye tot ’n vastetermynkontrak ingevolge artikel 14 van die CPA beter beskerming geniet ingevolge die CPA wanneer die verbruiker die vastetermynkontrak moet beëindig weens die wesenlike wanprestasie deur die verskaffer, as ingevolge die gemenereg. Tweedens ondersoek die proefskrif of dit wenslik is dat die maksimum duur van vastetermynkontrakte deur wetgewing beperk word. Verskeie aspekte wat die posisie van partye tot vastetermynkontrakte beïnvloed word ondersoek, onder andere kontrakteervryheid, die leerstuk pacta servanda sunt en standaardkontrakte. Die Suid-Afrikaanse posisie word dan vergelyk met dié in Singapoer, ingevolge die Consumer Protection (Fair Trading) Act (CPFTA), en die Verenigde Koninkryk, ingevolge die Consumer Rights Act (CRA) om perspektief te kry op die studie, en ten einde die bepalings van artikel 14 objektief te oorweeg om vas te stel of Suid-Afrika kan kersopsteek by hierdie jurisdiksies. Laastens word voorstelle gemaak om die posisie van die verbruiker tot vastetermynkontrakte ingevolge die CPA te verbeter om beste gebruikspraktyke te implementeer, en te verseker dat die doelwitte van die CPA en internasionale verbruikersriglyne bereik word. Hierdie studie weerspieël die regsposisie soos op 18 Junie 2020 in bronne wat plaaslik beskikbaar is, asook in bronne aan my beskikbaar gestel deur die Nasionale Universiteit van Singapoer tydens ’n navorsingsbesoek daar. / Kule thesisi isimo sezinhlangano ezingaphansi kwesivumelwano sesikhathi esinqunyiwe, ngaphansi kwesigaba 14 koMthetho 68 ka 2008, uMthetho weZokuvikelwa koMthengi uhlaziywa ngendlela egxekayo. Inhloso yalolu cwaningo ukusungula ukuthi mhlawumbe lezi zinhlangano ezingaphansi kwesivumelwano sesikhathi esinqunyiwe sivikeleke kangcono ngaphansi kwesigaba 14 se-CPA uma kunesidingo sabathengi sokuqedwa kwesivumelwano esencike phezu kokwehluleka ukwenza umsebenzi waloyo ongumthumeli wempahla, okwehlukile emthethweni owejwayelekile. Okwesibili, le thesis iphenya ukuthi mhlawumbe isikhathi isikhathi esinde sesivumelwano sesikhathi esinqunyiwe kufanele sincishiswe ngokomthetho oshayiwe. Izinto ezahlukahlukene ezithinta lezi zivumelwano, njengesibonelo, inkululeko yokungena esivumelwaneni pacta servanda sunt, kanye nesivumelwano ezingaguquki, kuyizinto ezibhekwayo. Isimo seNingizimu Afrika siqhathaniswa nesimo sezwe laseSingapore ngaphansi koMthetho wezokuVikelwa kwabaThengi (Fair Trading), kanye nasezweni laseUnited Kingdom ngaphansi koMthetho owaMalungelo abaThengi, ukuthola umqondo kanye nokuhlola izimiso ngaphansi kwesigaba 14 soMthetho 68 ka 2008, uMthetho oVikela abaThengi ukuthola ukuthi ngabe iNingizimu Afrika kukhona ekuzuzile kwizifundo ezifundwe kulezi zakhiwo zemithetho. Okokugcina, izichibiyelo ezisuselwe kwimigomo mayelana nalokho okushiwo yi-CPA inconywe ukuthi yenze ngcono isimo sezinhlangano ezingaphansi kwezivumelwano zesikhathi esinqunyiwe ukuletha izisombululo ezingcono kanye nokuqinisekisa ukuthi kulandelwa izinhloso kanye nemisebenzi yoMthetho 68 ka 2008, okunguMthetho oVikela abaThengi kanye nemihlahlandlela yezizwe zomhlaba. Lolu cwaningo lususelwe phezu komthetho kusukela mhla zi 18 uNhlangulana 2020, luyatholakala emithonjeni yaseNingizimu Afrika, kanye nomthetho waseSingapore uyatholakala emthonjeni yedatha yaseNational University of Singapore. / Mercantile Law / LL. D.