bluuebunny/crossref_metadata_2025_split huggingface dataset:
International Legal Sources IV—the European Union and the Council of Europe
Authors: Tzanakopoulos Antonios 
Published: June 2017

Abstract
This chapter examines the European Union (EU) from the perspective of public international law. Financial crime, this chapter argues, is an international phenomenon that requires international solutions. This recognition has resulted in states cooperating on a number of different levels in order to streamline their responses to international financial crime. This chapter deals with the EU in two guises: as an independent source of international obligation for its member states, imposing discreet international obligations on them, which may even function so as to turn non-binding recommendations of international bodies into hard law, and as a peculiar entity interposing itself between international obligations from other sources (such as international treaties or UN Security Council binding resolutions) and domestic implementation of these obligations. The fact that some EU law has a more remote international source (such as a UN Security Council Resolution) may affect the degree and nature of the judicial scrutiny to which this body of law may be subject. The chapter looks first at sanctions and next at money laundering, both from the perspective of the EU.
International Legal Sources V—the UN Security Council Delisting Procedure
Authors: Grant Tom 
Published: June 2017

Abstract
This chapter considers a particular aspect of the UN Security Council sanctions regime: the procedure for removing individuals or entities from the Sanctions List. The novelty of the delisting procedure justifies considering it in some detail. The delisting procedure is the main response at the international level to the human rights question raised by the Security Council sanctions regime. Because certain consequences for an individual follow at the national level from the fact of the individual having been listed, a procedure that goes to the listing itself holds particular interest for those to whom the regime might apply. The chapter concludes that the delisting procedure will continue to evolve as the Security Council grapples with procedural fairness and individual rights with which it has not historically had much to do.
The Professions and Financial Crime
Authors: Kirk David , Thornton-Dibb Andrew 
Published: June 2017

Abstract
This chapter looks at corrupt professionals who facilitate crimes involving laundered money. Against a background where global law enforcement is targeting money laundering in order to seek to reduce organised crime, corruption, drug dealing, and terrorist finance, it is obvious that professionals, acting either as unwitting enablers, or as criminal conspirators, are under scrutiny as never before. They must therefore be aware of the extent to which they might be targeted by criminals to assist them in money laundering schemes. The chapter looks at several reasons that professionals might be targeted in this way. Some professionals are open to persuasion, and may knowingly lend themselves to such money laundering schemes or schemes of terrorist finance. In doing so, these professionals will be committing breaches both of the criminal law and of their own professional guidelines. The vast majority of professionals, however, will not knowingly participate in such schemes. The chapter examines the various issues that need to be considered here.
Claims Arising under UK Private Law
Authors: Evans James 
Published: June 2017

Abstract
Banks are in the front line of the battle against fraud and money laundering. The importance of denying banking facilities to criminals and fraudsters, especially where there is corruption among those who hold public office and the trust of their people, has been recognized in the context of claims made against banks under English law. An abiding theme of English commercial law is the desire to establish rules that are certain so that participants in commercial activity ‘know what ground to go upon’. However such certainty is difficult to achieve in circumstances where legal obligations will arise from subjective matters, such as a bank employee’s suspicion that a customer might be involved in unlawful activity. This notwithstanding, the chapter states, English law seeks to ensure that agents and professionals are obliged to provide information to relevant authorities and that sufficient protection is provided to suspicious agents (including banks). The overall purpose of this chapter is to provide an overview of claims which may be made under English law against or by a bank (or financial institution) involved in a dispute with a customer or third party relating to the source, fate, ownership of, or freedom to deal with, money held by the bank or institution.
Knowing Receipt
Authors: Douglas Zachary , Bodnar Andrew 
Published: June 2017

Abstract
This chapter deals with issues related to knowing receipt. For an equitable claim for knowing receipt to succeed, the claimant must establish the disposal of his money in breach of fiduciary duty and, secondly, the beneficial receipt of that money by the defendant which is traceable as the claimant’s money where, thirdly, the defendant had the requisite degree of knowledge of the breach of fiduciary duty. This claim has been said to be the equitable counterpart of the common law action for money had and received. The chapter then looks at a real scenario of a case of knowing receipt. It also examines the relevant jurisdiction and applicable law, including the law applicable to the issue of liability for knowing receipt.
Dishonest Assistance
Authors: Douglas Zachary , Bodnar Andrew 
Published: June 2017

Abstract
This chapter deals with issues relating to dishonest assistance. To succeed with an equitable claim for dishonest assistance, the claimant must establish, firstly, the existence of a trust or fiduciary relationship, secondly, which has been breached, thirdly, with the assistance of the defendant, and fourthly, in circumstances where the defendant has been dishonest. The claim for dishonest assistance is not a restitutionary claim; it is a form of accessory liability based on fault, and hence the defendant’s state of mind assumes a critical role in the cause of action. If the defendant is liable for dishonest assistance, then he is personally liable to account to the claimant and hence the remedy is personal and not proprietary. Although described as an equitable claim, and notwithstanding that the quantum of damages is usually calculated by reference to the value of the breach of trust, the remedy for dishonest assistance is damages. The chapter then looks at a real scenario of a case of dishonest assistance. It also examines the relevant jurisdiction and applicable law, including the characterization of the issue of liability for dishonest assistance.
Conspiracy
Authors: Douglas Zachary , Bodnar Andrew 
Published: June 2017

Abstract
This chapter analyses the situation of conspiracy. A claim in tort for unlawful means conspiracy requires the claimant to establish that, firstly, he has suffered a loss, secondly, that it was as a result of unlawful action, which was thirdly, taken pursuant to a combination or agreement between the defendant and another person or persons, fourthly, to injure the claimant by unlawful means. The intention to injure does not have to be the sole or predominant purpose of the defendant’s actions. The chapter then looks at a real scenario of a case of conspiracy. It also looks at the relevant jurisdiction and applicable law, including cases where the defendants are domiciled in England, in another Member State, or in a non-Member State and cases where the defendants are domiciled in different locations from each other.
Anti-terrorism Legislation
Authors: Peddie Jonathan 
Published: June 2017

Abstract
The previous two chapters looked at the notion that the management of proceeds of crime and counter-terrorism have ceased to be independent legislative endeavours for governments, and increasingly form an inter-dependent set of measures together with other, international initiatives including the various international sanctions regimes. This chapter, and the ones that follow, look at the identification of illegal conduct, restraint, recovery of proceeds and close scrutiny and prosecution of perpetrators, and intelligence-led management of the threat to the UK’s economic and national security interests. On the one hand, terrorism amounts to criminal conduct to which the provisions of POCA 2002 apply as they do to the proceeds of any criminality, and there is clear interplay between the relevant regimes. Yet, on the other hand, the legislation considered in this chapter creates specific powers concerning those involved in terrorist acts, those who promote and facilitate it and the methods through which such individuals may be starved of financial means. The chapter looks at the Terrorism Act 2000; the Anti-Terrorism, Crime and Security Act 2001; and the Terrorism Asset Freezing etc Act 2010. It then considers the role of the wider UK enforcement and intelligence community. Finally, it takes a look at the Serious Crime Act 2007.
Cooperation between the United States and the United Kingdom in the Prevention and Prosecution of Financial Crime
Authors: Hudson D Zachary 
Published: June 2017

Abstract
This chapter starts by looking at the special relationship between the United States and the United Kingdom and how it relates to cooperation regarding the prevention and prosecution of financial crime. The chapter provides a primer on some of the formal and informal aspects of judicial and regulatory cooperation between the United States and the United Kingdom. Specifically, it discusses formal cooperation pursuant to the Treaty on Mutual Legal Assistance in Criminal Matters (the ‘U.S.-UK MLAT’), the Extradition Treaty Between the Government of the United States of America and the Government of the United Kingdom of Great Britain and Northern Ireland (the ‘U.S.-UK Extradition Treaty’), and other transnational and international agreements and understandings. It also discusses recent notable instances of more informal cooperation such as coordination regarding the cases of Bruno Iksil and the Royal Bank of Scotland.
Treaties on Transit of Energy via Pipelines and Countermeasures
Authors: Azaria Danae 
Published: June 2017

Abstract
This monograph examines the relationship between treaties providing for uninterrupted energy transit and countermeasures under the law of international responsibility. It analyses the obligations governing energy transit through pipelines in multilateral and bilateral treaties, looking at the WTO Agreement, the Energy Charter Treaty, and sixteen bespoke pipeline treaties. It argues that a number of transit obligations under these treaties are indivisible, reflecting the collective interests of states parties. The analysis is placed in the historical and normative landscape of freedom of transit in international law. After setting out the content and scope of obligations concerning transit of energy, it distinguishes countermeasures from treaty law responses, and examines the dispute settlement and compliance supervision provisions in these treaties. Building on these findings, the work discusses the availability and lawfulness of countermeasures as, on the one hand, a means of implementing the transit state’s responsibility for interruptions of energy transit via pipelines; and, on the other hand, circumstances that preclude the wrongfulness of the transit state’s interruptions of transit. The competing interests of the transit state and those of the states dependent on the pipeline make this question one of the most controversial aspects of modern international law.
The Scope and Content of Obligations Regarding Transit of Energy
Authors: Azaria Danae 
Published: June 2017

Abstract
Chapter 3 analyses the scope and content of treaty obligations regarding transit, revealing a variety of primary rules. The exercise in this chapter assists in the determination of when and how a breach of transit obligations takes place, thus providing the framework for the discussion in all the following chapters. Treaty obligations regarding transit are classified as obligations of conduct or of result. Finally, security exceptions in the GATT, the ECT and other language in bespoke pipeline agreements and the Model Inter-Governmental Pipeline Agreement prepared by the Energy Charter Secretariat, is examined with a view to establishing whether they constitute special circumstances precluding wrongfulness displacing countermeasures under customary international law or whether they form part of primary obligations incumbent on treaty parties.
Treaty Provisions Concerning Dispute Settlement and Compliance Supervision
Authors: Azaria Danae 
Published: June 2017

Abstract
Chapter 6 demonstrates the diversity of dispute settlement provisions, and considers the rules concerning standing to resort to dispute settlement. It assesses whether by agreeing to treaty clauses on dispute settlement or compliance oversight mechanisms treaty parties have contracted out of countermeasures in the form of suspending compliance with obligations in the treaty breached, as well as with international obligations outside the treaty breached in response to breaches of treaty obligations regarding transit of energy. It explains that when treaty provisions on dispute settlement do not exclude countermeasures, the latter may be unlawful when the wrongful conduct has ceased and interim measures are available.
Countermeasures against the Responsible Transit State
Authors: Azaria Danae 
Published: June 2017

Abstract
This chapter analyses the availability of countermeasures, as a means of implementing the responsibility of the transit state (or international organization), in a particular form: that of suspending performance of obligations in the treaty breached by the transit state. Such exclusion may result either from the nature of obligations to be suspended as a countermeasure or from special treaty provisions that exclude countermeasures as circumstances precluding wrongfulness. Additionally, it examines the conditions of lawfulness of countermeasures under customary international law and explains that these conditions may restrict the choice as to the form that countermeasures may take, when they are available within and outside the treaty breached by the responsible transit treaty party.
General Conclusion
Authors: Azaria Danae 
Published: June 2017

Abstract
Faced with the need to cooperate in order to access energy sources and energy markets, states increasingly conclude treaties with a view to guaranteeing uninterrupted transit of energy via pipelines. Although bilateralisable treaty obligations regarding transit of energy remain dominant, a trend towards genuinely multilateral obligations regarding transit is appearing in treaty practice, along with a trend of multilateralization on an institutional level. The indivisible nature of obligations and the emphasis that treaty parties place on uninterrupted energy flows via each pipeline may signal a trend away from unilateralism- countermeasures remain a preferred a means of implementing responsibility, but treaty rules are being established that may prohibit unilateral countermeasures, as circumstances precluding wrongfulness.
The Legal Nature of the International Bond Market
Authors: Bamford Colin 
Published: June 2017

Abstract
The chapter explains the history of the international bond market, from its origins in the nineteenth century issues of loan stock, through the development of the Eurodollar market after World War II and the adoption of bonds as a way for corporate borrowers to access that market. It then discusses the evolution of the documentation used, paying particular attention to the concept of negotiability, which facilitated the ready transfer of bonds. It goes on to consider the idea of immobilization and the growth of securities clearing organisations. In this context, it considers recent developments in Europe, brought about by the requirements of the ECB. The chapter then turns to an analysis of the legal relationships created by the structure of bonds and the way they are traded, and ends with a discussion of the move to the dematerialization of the market.
Credit Support in Financial Markets
Authors: Bamford Colin 
Published: June 2017

Abstract
This chapter brings together the numerous mechanisms and ideas that have the effect of supporting a payment obligation, in the sense that the use of one (or more) of these concepts makes it more likely that the obligation will be fulfilled. This objective can be achieved in a number of ways: a third party may accept liability alongside the obligor, as in the case of someone who assumes a joint liability; or the supporter may take a secondary role as a guarantor. The chapter then looks at the forms of support that are available on a commercial basis, in particular performance bonds and export credit facilities. It considers the mechanisms that provide support by a more indirect route, such as comfort letters and credit derivatives. It concludes by examining a form of support that reaches its destination from the opposite direction: subordination, both in the form of general subordination of the creditor to the claims of all other creditors, and as subordination to the claims of a particular creditor.
The Construction of Financial Contracts
Authors: Bamford Colin 
Published: June 2017

Abstract
The chapter considers the way in which courts in common law countries interpret financial contracts. It begins by drawing a contrast between the objective of the approach adopted by common law countries (the objective approach) and that which underpins the construction method used in civil law countries (the subjective approach). It argues that the objective approach is more suitable for the purposes of the international financial markets. The chapter then discusses the difference between the meaning of a contractual term and the affect that the operation of the term produces. The chapter moves on to consider the principles by which common law courts determine the meaning of contracts, before concluding with a description of the rules dealing with rectification and with the implication of terms in contracts.
Offers and Invitations to Treat
Authors: Furmston Michael , Tolhurst Gregory , Mik Eliza 
Published: June 2017

Abstract
This chapter begins by discussing how developed legal systems seem to have adopted the technique of analyzing transactions in terms of offer and acceptance to determine whether there is an agreement. It then turns to the identification of offers, covering the definition of an offer; the requirements of a valid offer, i.e. extent of commitment evinced, the certainty of the terms used, and the specification of the addressees; how the language used in the proposal is the most decisive factor when examining what the addressee is entitled to conclude when judging the proposal to be an offer; and the communication of offer.
Termination and Revocation of Offers
Authors: Furmston Michael , Tolhurst Gregory , Mik Eliza 
Published: June 2017

Abstract
This chapter discusses the law on the termination and revocation of offers. An offer may be terminated through lapse of time, the death of the offeror or offeree, the failure of some condition or contingency, by rejection (or counter-offer), and by communication of a revocation of the offer. An offer may be revoked any time prior to its acceptance. Even if an offer is expressed to be open for a stated period of time it can be revoked prior to that time elapsing. Where the offer is a standing offer capable of acceptance from time to time, it may still be revoked as to the future acceptances even though there have been acceptances in the past.
Acceptance
Authors: Furmston Michael , Tolhurst Gregory , Mik Eliza 
Published: June 2017

Abstract
The clearest way to prove that the parties have reached an agreement is for them to execute a written contract. Where such a document does not exist it is then necessary to prove an agreement has been reached by using the tools of offer and acceptance or by showing that an agreement has been reached by other conduct or communications. This chapter is concerned with acceptance and discusses the various rules governing acceptance. In general terms, an acceptance involves the communication of an unequivocal assent to the terms of an offer. Such ‘assent’ requires a commitment to the terms of the offer and not an acknowledgement of the offer or an expression of interest in the offer.
Problems of Intention and Consideration in Online Transactions
Authors: Furmston Michael , Tolhurst G J , Mik Eliza 
Published: June 2017

Abstract
This chapter discusses issues concerning online transactions and points to further challenges. It commences with a broad discussion on the relationship between the two prerequisites of every contract: intention and consideration. It focuses on the difficulty of establishing intention and consideration in circumstances where the context of a particular online interaction is difficult to categorize as either commercial or social. Next, it deals with problems relating to the application of the offer and acceptance model in online transactions. Some basic questions are posed: Is there an offer? If so, what are its contents? Is there an acceptance? If so, when does it become effective? Throughout the discussion it is assumed that each Internet-based communication method creates different problems, and each stage in the online contract formation process faces different technological challenges. Technology, while not changing contract law per se, adds complexity to the traditional analysis. The question is not: do traditional principles apply? but how do they apply?
Letters of Intent
Authors: Furmston Michael , Tolhurst Gregory , Mik Eliza 
Published: June 2017

Abstract
Many contracts are the product of months or years of negotiations, often involving consideration of many side issues and involving teams of experts and advisers. In many cases the parties make written statements of provisional agreement during the negotiation. The names given to such provisional statements include Letters of Intent, Heads of Agreement, Memorandum of Understanding, Agreement in Principle, and so on. This chapter focuses on letters of intent. It discusses cases where the letters of intent do not create a contract; cases where letters of intent do create a contract; cases where the letters of intent have some legal effect; letters of intent followed by performance; letters of comfort; and agreements imposing obligations as to the course of the negotiations.
Practical Aspects of Letters of Intent
Authors: Furmston Michael , Tolhurst Gregory , Mik Eliza 
Published: June 2017

Abstract
This chapter first illustrates a classic letter of intent situation through the case of Texaco Inc v Pennzoil, involving the selling price of Getty oil stock. One party did not want to enter into a binding legal relationship but did not want to say so in clear terms. The case emphasizes in clear terms the dangers posed by the resultant ambiguities. The chapter then considers some possible solutions. It discusses possible ways of delaying legal effect of letters of intent; letters of intent and partially completed negotiations; agreements to negotiate in good faith; refusal to negotiate; and issuance of a letter of intent where the issuer wants work to start but is not yet ready to enter into a complete contract.