Review 2020

Author

Simona GUȚIU

Lecturer PhD, Faculty of Law, Bucharest University of Economic Studies

Abstract

This article aims to analyse some of the risks associated with real estate purchase agreements concluded between the real estate developer and (prospective) purchasers in case the development of the project is suspended or the project fails to be completed, either due to the developer’s fault or for reasons beyond the developer’s control.

Keywords: preliminary agreement, developer, off-plan acquisition, legal risk, default

JEL Codes: K12, K15, K41,  K49

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Authors

Andreea STOICAN, 

Lecturer PhD, Faculty of Law, Bucharest University of Economic Studies

Abstract

Art has always been a subject of controversy, inspiration, monetary interest and, eventually, legacy. As part of the mobile national cultural heritage, the artwork left by the great sculptor Constantin Brâncuși has not been evaded by legal battles across time and national borders.
As such, the current paper aims in being more atypically compared to the standard legal research articles, but not less interesting, by trying to bring to light the economical and artistic interest artwork can bring not only to individuals, but also to states, by combining cultural and legal information nonetheless, and underlining the transborder interest such legal battles can attract.

Keywords: mobile national cultural heritage, artwork, economy, legal battles, transborder

JEL Codes: K12, K23

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Author

Andrada TARMIGAN
PhD. Student, Faculty of Law, Bucharest University of Economic Studies

Abstract

Conventional construction contracts are inherently adversarial. Key-trends in the construction industry have the potential of changing that, alongside shaping a new dispute resolution mechanism.
On one hand, collaborative principles aim to resolve the industry’s productivity problems. Increasing productivity means a successful outcome of the entire project should be the primary goal of every participant.
Firstly, it is achievable by engaging project participants that believe in this work ethic and that are willing to consider focusing on performing their own responsibilities.
Secondly, it is achievable by regulating a contractual frame that allows a customized dispute resolution mechanism.
Early involvement of professionals acquainted with collaborative techniques means that any event that has the potential to become a disruption can be handled and its potential effects can be minimized.
Harmonizing and introducing collaboration principles as well as a permissive dispute resolution mechanism can be difficult in public procurement contracts, where Romanian legislation prohibits the modification of contracts and standard forms of contracts are used.
On the other hand, the immutable nature of a smart contract creates an environment where facts are harder to dispute due to the optimized and efficient data management.
In addition, smart contracts have the potential to force the construction industry to focus on recurring, industry-wide problems such as late payment. On an opposite note, smart contracts raise major concerns regarding security, job loss due to eliminating intermediaries, lack of investors control and privacy matters. 

Keywords: construction; alternative dispute resolution; collaboration; smart contracts
JEL Codes: K13

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