title: Illegality in the Underlying Transaction: A Defence to Dishonouring Letters of Credit?

authors: Liao, Zhixiong (Leo)

subjects: Illegal underlying transaction

abstract: This paper raises doubts over the seemingly prevailing view that illegality in the underlying contract for international trade should be accepted as an exception to the autonomy principle of documentary letters of credit. Contrary to the seemingly prevailing view, this paper argues that there are logical flaws in the “illegality exception” arguments. It suggests that where commercial documentary letters of credit for international trade are involved, the “illegality exception” would much less likely than expected to be accepted, especially in most common law jurisdictions. It also submits that the public policy concerns over letter of credit being used to facilitate illegal transactions could be better addressed by public law such as specific statutory provisions rather than by an ill-founded and loosely formulated “illegality in the underlying contract defence” in private law.

text: Illegality in the Underlying Transaction: A Defence to Dishonouring Letters of Credit? This paper raises doubts over the seemingly prevailing view that illegality in the underlying contract for international trade should be accepted as an exception to the autonomy principle of documentary letters of credit. Contrary to the seemingly prevailing view, this paper argues that there are logical flaws in the “illegality exception” arguments. It suggests that where commercial documentary letters of credit for international trade are involved, the “illegality exception” would much less likely than expected to be accepted, especially in most common law jurisdictions. It also submits that the public policy concerns over letter of credit being used to facilitate illegal transactions could be better addressed by public law such as specific statutory provisions rather than by an ill-founded and loosely formulated “illegality in the underlying contract defence” in private law.

year: 2016

title: Editorial: Entrepreneurship research: follow the yellow-brick road?

authors: Corner, Patricia

subjects: entrepreneurship

abstract: If entrepreneurship theory, research, and practice represent Oz at the culmination of the yellow-brick road, Dorothy and her companions have much company on their journey. For example, one source estimates that 460 million people worldwide either start a new business or become the owners of new businesses annually (Reynolds et al. 2002). Moreover, entrepreneurship is the fastest growing field of study in tertiary education in North America and Europe (Bygrave 2004) and fifteen specialized scholarly journals disseminate research on the topic globally. Within the policy-making arena, the governments of both Australia and New Zealand seek to promote entrepreneurship as an engine of economic growth. This special issue on entrepreneurship thus appears to be timely and can help to take stock of this topic within our Australasian context. It can also serve as a baseline from which to consider directions for future research in this important area of inquiry.

text: Editorial: Entrepreneurship research: follow the yellow-brick road? If entrepreneurship theory, research, and practice represent Oz at the culmination of the yellow-brick road, Dorothy and her companions have much company on their journey. For example, one source estimates that 460 million people worldwide either start a new business or become the owners of new businesses annually (Reynolds et al. 2002). Moreover, entrepreneurship is the fastest growing field of study in tertiary education in North America and Europe (Bygrave 2004) and fifteen specialized scholarly journals disseminate research on the topic globally. Within the policy-making arena, the governments of both Australia and New Zealand seek to promote entrepreneurship as an engine of economic growth. This special issue on entrepreneurship thus appears to be timely and can help to take stock of this topic within our Australasian context. It can also serve as a baseline from which to consider directions for future research in this important area of inquiry.

year: 2007

title: Planning for the protection and enhancement of marine environments' wellbeing

authors: Barnsdall, Aaron

subjects: marine

abstract: The wellbeing of marine environments has a direct relationship with the types of whenua (land, placenta) use and management practices that go from the mountains to the sea. In Aotearoa, activities that are carried out in this land-marine interface, including those related to Nature-based Solutions (NbSs), are regulated by national, regional, and district policies (e.g., New Zealand Coastal Policy Statement, regional plans, and district plans). However, due to its novel character, not all current policies account for the realisation of NbSs nor are NbSs’ potential for addressing the wellbeing of our marine environments well understood.

This dissertation focuses on Tauranga Moana (the seas of Tauranga) as the chosen locality for the case study area, to:

i) investigate how the Ngapeke 7 Trust’s community participants in the Ngāti Pūkenga area of Tauranga Moana understand and value NbSs for addressing the wellbeing of their marine systems; and,
ii) review current planning policies and mechanisms to identify barriers, enablers, and gaps that support or hinder the implementation of NbSs in Tauranga Moana, observing through a Kaupapa Māori lens.

Findings emphasize that integrating mātauranga Māori and Māori Ecological Knowledge (MEK) with scientific knowledge offers a holistic approach to environmental management, enhancing decision-making, education, and policy. Key Māori values, including whakapapa, mauri, and kaitiakitanga, are central to this approach.

The research identifies gaps in policies regarding NbS realization and a need for greater understanding of NbS potential and Māori perspectives. Implications include the necessity of integrating MEK into environmental practices and policies, and the value of NbSs for effective and equitable environmental outcomes. Limitations include sample size and scope, which focused on the Ngapeke 7 block. This research contributes valuable insights for environmental planning and management by centring mātauranga Māori and values in NbS implementation for marine health.

text: Planning for the protection and enhancement of marine environments' wellbeing The wellbeing of marine environments has a direct relationship with the types of whenua (land, placenta) use and management practices that go from the mountains to the sea. In Aotearoa, activities that are carried out in this land-marine interface, including those related to Nature-based Solutions (NbSs), are regulated by national, regional, and district policies (e.g., New Zealand Coastal Policy Statement, regional plans, and district plans). However, due to its novel character, not all current policies account for the realisation of NbSs nor are NbSs’ potential for addressing the wellbeing of our marine environments well understood.

This dissertation focuses on Tauranga Moana (the seas of Tauranga) as the chosen locality for the case study area, to:

i) investigate how the Ngapeke 7 Trust’s community participants in the Ngāti Pūkenga area of Tauranga Moana understand and value NbSs for addressing the wellbeing of their marine systems; and,
ii) review current planning policies and mechanisms to identify barriers, enablers, and gaps that support or hinder the implementation of NbSs in Tauranga Moana, observing through a Kaupapa Māori lens.

Findings emphasize that integrating mātauranga Māori and Māori Ecological Knowledge (MEK) with scientific knowledge offers a holistic approach to environmental management, enhancing decision-making, education, and policy. Key Māori values, including whakapapa, mauri, and kaitiakitanga, are central to this approach.

The research identifies gaps in policies regarding NbS realization and a need for greater understanding of NbS potential and Māori perspectives. Implications include the necessity of integrating MEK into environmental practices and policies, and the value of NbSs for effective and equitable environmental outcomes. Limitations include sample size and scope, which focused on the Ngapeke 7 block. This research contributes valuable insights for environmental planning and management by centring mātauranga Māori and values in NbS implementation for marine health.

year: 2025-04-16