SENSITIVE TRANSACTIONS
Facilitating payments versus bribery? Many companies operate in many countries. Sometimes local custom and practice dictate that like tipping a waiter, a company pays for (government) services to speed-up a certain process or application. Why would you wait five months for getting electricity to your factory if you can get it in three weeks? However, these kind of payments are not without risk.
Most countries are a party to non-bribery treaties (‘OECD-Convention on Combating Bribery of Foreign Public Officials in International Business Transactions’; ‘United Nations Convention against corruption’) or have enacted legislation which forbids bribery. Many companies have a …
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NEW SWEEPSTAKES REGULATIONS IN THE NETHERLANDS
Sweepstakes are popular for product promotion
Article 1 of the Netherlands Act on Games of Change prohibits: absent a permit, offering the opportunity of contending for prizes or bonuses if the winner is selected by any determination of chance, which determination is not subject to a preponderating influence by the participant. Therefore, games of chance (e.g. lotteries) are regulated by law and permitted under the condition that the organizing company obtains a license to do so in advance. Whether sweepstakes fall within the scope of the Act is not entirely clear, but if so, they are forbidden and no permit …
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ORAL CONTRACTS ARE VALID AND BINDING UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
There are certain exceptions
Many contracts are concluded on the telephone. Often a (fax) confirmation is sent of the most important terms of the transaction.
However, an oral contract as such creates a binding transaction under Netherlands Antilles and Aruban law. Oral agreements are valid and binding, unless the law requires certain formalities to be fulfilled. For example, you can only acquire ownership of real property or a registered ship by means of a notarial deed.
Although no written confirmation (fax) is required in the case of an oral agreement, for reasons of evidence it is recommendable. To avoid discussion …
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IS IT TRUE BECAUSE IT IS ON THE INTERNET?
Wikipedia victim of its policy?
There are many websites inviting you to contribute. Wikipedia, the world’s largest virtual encyclopedia, is one of them. However, people can post false information.
Recently, a man posted false information on this online encyclopedia linking a prominent journalist to the Kennedy assassinations. What started as a joke, became serious business. The journalist involved wrote an op-editorial piece for USA Today blasting Wikipedia’s credibility.
This case raises questions about the liability of site owners, also given the fact that websites are accessible from almost every country. Wikipedia has many content watchers, which, however, cannot prevent all …
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WHAT CAN YOU TEACH A LAWYER?
Lawyers must learn to communicate with mere mortals
Communication skills are particularly important for lawyers. On the one hand lawyers have to accurately debate legal issues with like-skilled/trained people and on the other hand they have to explain all this to people without any legal education, many of which are vulnerable. That is not as easy as it sounds: legalese vs plain language.
I know that many people are dissatisfied and frustrated by lawyers’ communication efforts. I asked one of my Ecademy contacts what she could teach a lawyer / attorney. Her response:
“I have worked with …
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NON-POSSESSORY PLEDGE UNDER THE LAWS OF THE NETHERLANDS ANTILLES
A non-possessory pledge requires a deed
Especially in financing transactions, security rights are an important issue. A company may, for example, guarantee the obligations of another company under a certain loan facility. There are several alternatives, one of which will be discussed here.
Under the laws of the Netherlands Antilles there are several kinds of pledges, more in particular the possessory and the non-possessory pledge. In case of a possessory pledge, the physical control of the assets concerned will be transferred from the owner/borrower to the bank/lender.
In case of a non-possessory pledge, regarding for example registered shares, the pledge …
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ALMOST EVERY LAWYER OR LAW FIRM CLAIMS TO BE THE BEST
Are you looking for the hottest firm in town?
Whether you live in the UK, the USA or the Netherlands Antilles, almost every lawyer (attorney) or law firm claims to be the best, leading, etcetera. Why are they trying so hard? And does it do the trick for you?
Are you looking for the hottest firm in town? Where should you turn when you need a lawyer: a firm that specializes in the specific field or a general law firm? I guess that the answer at least partially depends on the problem. Please feel free to discuss this on the …
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WHAT IS A DUE DILIGENCE INVESTIGATION?
Gathering and investigating legal, tax and other information
A prospective buyer of a company may want to investigate and gather as much information as possible about that company and its business. The main purpose is to decide whether to proceed with the transaction and establish areas of risk that need particular attention. More in general, the investigation aims at assessing the benefits and downside (liabilities) of a proposed acquisition, and comprises the past, the present and the predictable future of the company and its business.
Most of the time, the prospective buyer doesn’t carry out such a due diligence investigation …
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DOES YOUR LAWYER UNDERSTAND INTERNET?
What actually is an e-commerce lawyer?
Lawyers seem to be rather traditional people. They don’t control the internet; the technology experts do. Does your lawyer understand anything at all about your e-commerce business?
E-commerce differs from ‘traditional’ commercial activities in that it operates with multilevel efficiencies. It includes both one-way broadcasting and two-way communication with interactivity, and does this 24 x 7 x 365 anywhere in the world. Is your lawyer able to identify the legal issues related thereto?
In your opinion, what does it mean when a lawyer refers to himself as an ‘e-commerce lawyer’? Please share your views …
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The Pearl and the Capital of the Caribbean
Despite the recent revolutionary changes of the fiscal and e-commerce legal framework in Curaçao, the Island is still not discovered on a broad scale by foreign exporters, especially exporters in Asia (China, Japan, Singapore, India, etc.). In particular those exporters should consider exporting to Latin America using Curaçao as a hub. Curaçao is an ideal location at the crossroad of trade between Latin America, Asia, the United States and Europe.
Curaçao offers many (regional) advantages such as:
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LIABILTY INSURANCE FOR DIRECTORS OF COMPANIES
A waste of money?
Under the laws of the Netherlands Antilles and Aruba, directors of companies can be held liable if they are engaged in grossly negligent or reckless conduct, intentional misconduct, or a knowing violation of law. In principle, such directors cannot be held personally liable for ordinary negligence or ordinary mistakes. Directors liability insurance provides financial protection for the director of an company in the event he is sued in conjunction with the performance of his company related duties.
Given the scope of the customary coverage exclusions, the question is whether a director needs any liability insurance at …
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WHAT ARE YOU LOOKING FOR?
Legal services, legal advice, a legal forum, free legal advice?
If you are searching the internet what exactly are you looking for and what do you expect to find? Legal services, legal advice, a legal forum, free legal advice, tax advice or tax services?
This legal weblog is now up en running for about five months. Your comments would be much appreciated.
What are your thoughts about legal blogging? Is the information provided useful? Would you be interested in participating in a blogger’s forum to discuss legal issues without the stuffy legal-speak?
Many of us spend lots of time web …
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