Suchergebnisse

The purpose of the research is to analyse the convergence of the concept of 'breach of contract' as construed under common law and civil law and to identify potential paths for further development of civil law in this field. I find that the common law's approach to breach of contract is better suited to meet the needs of sophisticated contracting parties and that certain signs of civil law's move towards the common law approach should be viewed as an indication of a general trend.
Common law traditionally applies a broad and uniform notion of breach of contract. It encompasses circumstances that would not fall within the scope of the 'non-performance of an obligation' under civil law. The reason therefore is that civil law's contractual liability is conditioned upon a breach of a pre-existing primary obligation to perform. Any other sort of contractual liability, which is not attached to a breach of a primary performance obligation, needs to be construed under different liability theories. Conversely, under common law the liability for breach of contract does not require a violation of a primary performance obligation; therefore, it can apply also in cases where it is not possible to construe any primary duty of performance. This is particularly the case of warranties. Ultimately, what can be handled under common law with the uniform concept of breach of contract, under civil law may require separate liability theories (indemnity-type liability), which are redundant in common law.
Recent developments in civil law, however, provide clear signs of convergence between the civil law's and common law's liability theories. Two examples I use for my research is the 'non-conformity' under modern European sales law and the evolving approach to initial impossibility. I find that they signal a move towards the common law's approach, as they attach liability for breach of contract to cases where there may be no primary performance obligation. **I claim that these examples should be viewed as an indication for a general trend, which would meet the expectations of professional contracting parties. Even though these statutory examples may appear isolated, the pattern of practice in complex contracting clearly demonstrates the relevance of developing a reliable liability theory for cases, where there may be no primary duty of performance. Both legal certainty and flexibility would benefit from one liability theory which would include promises not giving rise to any primary duty of performance. Finally, I discuss potential ways in which civil law could integrate these cases in its general liability theory.

Celem artykułu jest przedstawienie prawnych instrumentów ochrony wierzycieli spółki w przypadku przeprowadzenia podziału spółki zarówno na poziomie krajowym, jak i transgranicznym. Wyjaśniono znaczenie pojęć podziału wewnątrzkrajowego i transgranicznego oraz pojęcie wierzytelności. Następnie omówiono konkretne, przewidziane w prawie polskim i unijnym, instrumenty ochrony wierzycieli spółki przeprowadzającej podział krajowy, uwzględniając oprócz regulacji normatywnych orzecznictwo Sądu Najwyższego i Trybunału Sprawiedliwości Unii Europejskiej. W kolejnej części przedstawiono instrumenty ochrony wierzycieli w przypadku przeprowadzenia transgranicznego podziału przewidziane w dyrektywie 2019/2121, do których wprowadzenia na mocy postanowień dyrektywy zobowiązany został polski prawodawca do 31 stycznia 2023 roku.

The purpose of this paper is threefold. Firstly, it presents to the broader European audience the thesis of lawyers being the "transaction cost engineers", with a particular focus on acquisition agreements. Secondly, it applies the terminology of value-creation and value-distribution to the operation of warranty clauses and contractual indemnities. These contractual clauses typically form a significant part of an acquisition agreement and they are frequently among those most heavily negotiated between the parties. Therefore, it is interesting to analyze the value considerations underlying these negotiations. Finally, the paper discusses the interplay between a contract's pricing terms, non-pricing terms (like warranty clauses and contractual indemnities) and the bargaining power of the parties. Again, the focus is on acquisition agreements, where the interplay between these factors is determined by the structure of an M&A transaction process.

The purpose of this paper is to present key trends and questions related to directors' liability under Polish law. Recently these matters have become a point of interest for Polish private law writing and one may also observe that scholarly papers have already had their impact on the courts' approach. Therefore directors' liability is now a highly relevant and vividly discussed topic of both Polish commercial and civil law.

The aim of the article is to analyze determinants, standards and principles of co-operation between the Polish Financial Supervision Authority and selected stakeholders of the state security system. This is especially important in the context of the dynamic development of the financial market, challenges resulting from the computerization of this market in the era of pandemics and the geopolitical situation related to the war in Ukraine. Authors accepted the hypothesis that the effectiveness of cooperation of entities responsible for state security depends, on the one hand, on the proper legal basis, and on the other hand, on soft factors such as mutual trust, community of goals and competence of employees of public institutions and officers. The article is a review with a theoretical and empirical component. The doctrine and legal acts were analyzed, and also empirical material collected during the research process was analyzed. For the purposes of the considerations, the dogmatic-legal method and the analysis of source materials of the Polish Financial Supervision Authority were used.

Celem artykułu jest zanalizowanie uwarunkowań, standardów i zasad współpracy Komisji Nadzoru Finansowego z wybranymi podmiotami systemu bezpieczeństwa państwa. Jest to szczególnie istotne w kontekście dynamicznego rozwoju rynku finansowego, wyzwań płynących z informatyzacji tego rynku w dobie pandemii oraz sytuacji geopolitycznej związanej z wojną w Ukrainie. Autorzy przyjęli hipotezę, że skuteczność współpracy podmiotów odpowiedzialnych za bezpieczeństwo państwa zależy z jednej strony od właściwych podstaw prawnych, a z drugiej od czynników miękkich, takich jak wzajemne zaufanie, wspólnota celów oraz kompetencje pracowników i funkcjonariuszy instytucji publicznych. Artykuł ma charakter przeglądowy z komponentem teoretyczno-empirycznym. Dokonano w nim analizy dorobku doktryny i aktów prawnych oraz przeanalizowano zgromadzony materiał empiryczny. Na potrzeby prowadzonych rozważań wykorzystano metodę dogmatyczno-prawną oraz analizę materiałów źródłowych Urzędu Komisji Nadzoru Finansowego oraz Komisji Nadzoru Finansowego.

Determinants, standards and principles of cooperation between the Polish Financial Supervision Authority and selected stakeholders of the state security system

The aim of the article is to analyze determinants, standards and principles of co-operation between the Polish Financial Supervision Authority and selected stakeholders of the state security system. This is especially important in the context of the dynamic development of the financial market, challenges resulting from the computerization of this market in the era of pandemics and the geopolitical situation related to the war in Ukraine. Authors accepted the hypothesis that the effectiveness of cooperation of entities responsible for state security depends, on the one hand, on the proper legal basis, and on the other hand, on soft factors such as mutual trust, community of goals and competence of employees of public institutions and officers. The article is a review with a theoretical and empirical component. The doctrine and legal acts were analyzed, and also empirical material collected during the research process was analyzed. For the purposes of the considerations, the dogmatic-legal method and the analysis of source materials of the Polish Financial Supervision Authority were used.

The Polish Financial Supervision Authority (hereinafter: KNF) is the key element of the economic security system of the Polish State. By establishing the KNF, the Polish legislator applied the concept of integratedfi nancial supervision (covering bank supervision, insurance supervision and capital market supervision) located outside the central bank. The KNF has been vested with a broad mandate, including powers to supervise authorised entities. However, the scope and nature of measures available to the KNF in the prevention of economic crime are determined by the institutional position of the KNF, which has not been established as a law enforcement authority or a uniformed or special service but rather an institution engaged in the fi ght against economic crime by providing expertise, supporting other state services specialised in this area. The KNF and the Offi ce of the Polish Financial Supervision Authority (hereinafter: UKNF) actively support, among others, the police units that fi ght crime in the fi nancial market and work to increase the economic security of the Polish State. Therefore, it is imperative to ensure broad and effi cient cooperation between the police and the KNF. However, such collaboration must not be limited to relations between the institutions' management; it should also involve, as far as possible, working and operational activities carried out at both institutions by individuals responsible for day-to-day tasks. This paper provides a closer perspective on the formal and organisational framework of said cooperation and discusses its examples.