Fundamental Rights, Contract Law and Transactional Justice

This article critically engages with Peter Benson’s theory of contract law. It explores whether his juridical conception of contract as a transfer of rights, which is governed by the contract law’s internal principles of transactional justice, can be reconciled with fundamental rights. The article argues that the conventional distinction between the direct and indirect horizontal effect of fundamental rights is problematic because it does not make it unequivocal which body of law fundamental rights or contract law – substantially governs the relations between contracting parties and determines the outcome of disputes between them. The answer to this fundamental question, however, is crucial for the stability of Benson’s theory of contract law. Drawing on the European experience, the article shows that the relationship between fundamental rights and contract law can take the form of the subordination of contract law to fundamental rights or the complementarity between the two. While the latter is compatible with Benson’s theory, the former is in tension with it. For the sake of conceptual clarity, therefore, it is useful to distinguish between three forms of the horizontal effect of fundamental rights in contract law – direct horizontal effect, strong indirect horizontal effect, and weak indirect horizontal effect

Islands and the Ocean:Three Models of the Relationship between EU Market Regulation and National Private Law

EU regulatory measures in the field of private law have been compared to islands in the ocean of national private law. This article reconceives the relationship between the two, focusing on how national private law today responds and should respond to EU market regulation given the tension between the instrumentalist rationality of EU private law and its own relational rationality. It identifies three main models of this relationship: separation, substitution, and complementarity. These models reflect elements of the current legislative and judicial practices in a variety of jurisdictions across different areas of EU private law and provide an analytical framework for assessing such practices in terms of their ability to reconcile the competing rationalities of EU and national private law. Each model has a bearing on the ability of EU measures to achieve their regulatory objectives, and the overall shape of European integration more generally

The Proposal for a New EU Consumer Credit Directive:Towards Responsible Lending in the Digital Age?

Large-scale irresponsible consumer credit lending across the EU, along with the growing digitalisation of the market place, in the last decade or more has exposed serious limitations of the 2008 Consumer Credit Directive in ensuring adequate consumer protection in the unsecured credit markets. To remedy the shortcomings of the current regulatory regime, the European Commission’s Proposal for a New Consumer Credit Directive seeks to introduce a number of important changes. This article discusses the proposed changes and critically assesses their potential to ensure responsible lending in the digital age. It concludes that the adoption of the revised directive would represent a major step forward in combatting irresponsible lending practices and protecting European consumers against overindebtedness in the digital market place. At the same time, however, the effectiveness of the new consumer credit directive will depend to a considerable extent on its implementation and application in the Member States

Investor protection through model case procedures – implementing collective goals and individual rights under the 2012 Amendment of the German Capital Markets Model Case Act (KapMuG)

The German Capital Markets Model Case Act (KapMuG) and its amendment of 2012 highlight some fundamentals of collective redress in civil law countries at the example of model case procedures in the field of investor protection. That is why a survey of the ongoing activities of the European Union in the area of collective redress and of its repercussions on the member state level forms a suitable basis for the following analysis of the 2012 amendment of the KapMuG. It clearly brings into focus a shift from sector-specific regulation with an emphasis on the cross-border aspect of protecting consumers towards a “coherent approach” strengthening the enforcement of EU law. As a result, regulatory policy and collective redress are two sides of the same coin today. With respect to the KapMuG such a development brings about some tension between its aim to aggregate small individual claims as efficiently as possible and the dominant role of individual procedural rights in German civil procedure. This conflict can be illustrated by some specific rules of the KapMuG: its scope of application, the three-tier procedure of a model case procedure, the newly introduced notification of claims and the new opt-out settlement under the amended §§ 17-19

Efficiency Assessment of Multidetector-Row Computed Tomographic Angiography Using Reconstruction With Locoregional Perforator Flaps

Background: Reconstruction with the use of perforator flaps makes it possible to make the skin surface resistant to the influence of mechanical factors and as similar to the lost skin cover as possible. However, while planning any flap, along with the design of the required shape and size, its blood supply should be taken into account to ensure optimal viability. Therefore, the task to precisely determine the topographic–anatomical relationships suitable for the formation of a pedicle of perforators is still relevant. The aim of this study was to increase the efficiency of surgical reconstruction of wound defects by transposition of locoregional perforator flaps. Methods: The authors conducted a retrospective analysis of 72 cases of reconstruction by means of locoregional perforator flaps with vascular pedicle detachment to determine the efficiency of preoperative diagnostic preparation with the help of multidetector-row computed tomographic angiography (MDCT) in the process of reconstruction. Thirty-seven individual cases of surgical interventions were chosen using a case-controlled study from the study group when MDCT with angiography was used for preoperative planning of perforator flaps, as well as 35 control cases similar in terms of important predictive peculiarities with the reconstruction at the same level of difficulty. The patient groups were precisely matched by gender (P = .950), age (P = .804), flap area (P = .192), and type of reconstruction that was performed. Results: In all cases, the location of the perforator with a diameter greater than 1.0 mm was marked. All perforators determined during MDCT scanning were faultlessly localized intraoperatively. The distance between the intraoperative position of the perforator and the position obtained in the result of the examination did not exceed 1 cm. There was no need to change the planned design of the flap intraoperatively. In all cases where MDCT was performed, the duration of the surgical procedure varied from 60 to 150 minutes (average: 120.77 [18.90] minutes) and was reduced by 49.40 minutes (95% CI: 39.17-59.63) compared with the patients who did not undergo preoperative visualization of perforators where the average duration of the operation was 170.17 (19.19) minutes (from 140 to 220 minutes). Among the patients examined by MDCT, surgical complications were noted in 5 cases (13.51%) compared to 14 cases (40.00%) in the control group. Conclusions: The preoperative MDCT for the locoregional perforator flap reconstruction makes it possible to increase the efficiency of patient treatment given the reduction in surgery duration by 49.40 minutes (95% CI: 39.17-59.63) on average and the reduction in the level of postsurgery complications from 40% to 13.5% compared with the group of patients in whom presurgical visualization was not performed (P = .031)

Using of multi-objective optimization in financial portfolios

The main goal of this work was the improvement of calculation and graphing for analysis of different dimension financial portfolios, which will increase Matlab-tools work accuracy and efficiency. Was made comparative analysis of Matlab instruments for working with financial portfolios, and was offered methods to improve graphing and increase the accuracy of the calculation. When you are citing the document, use the following link http://essuir.sumdu.edu.ua/handle/123456789/3163

Сутність діагностики фінансового стану підприємства

У статті досліджено та наведено класифікацію методів і принципів діагностики фінансового стану підприємства за різними його рівнями, визначено місце і роль моделювання у фінансовому аналізі, згідно з існуючими класифікаціями, розглянуто основні види моделей, що використовуються в процесі діагностики фінансового стану підприємства; розкрито систему показників економічної діагностики.The paper investigated and a classification of methods and principles of diagnosis of the financial condition of the company on its various levels, the position and role modeling in financial analysis, according to existing classifications, the main types of models used in the diagnosis of the financial condition of the company; disclosed a system of indicators of economic status.В статье исследована и приведена классификация методов и принципов диагностики финансового состояния предприятия по различным его уровням, определено место и роль моделирования в финансовом анализе,согласно существующим классификациям, рассмотрены основные виды моделей, используемых в процессе диагностики финансового состояния предприятия; раскрыта система показателей экономической диагностики