The evolution of technology has changed business practices all over the world. Owing to technological and e-commerce developments, businesses can now transact with each other instantaneously across borders. The digitalisation of commerce and other traditional working methods has created a new "digital age" in human history. Digitalisation has taken over many economic activities and industries and is slowly finding its way into the legal system. Several businesses are now concluding commercial transactions and contracts electronically. Electronic signatures have consequently become essential tools for concluding legal agreements and conducting other daily business and legal practices. These new innovations have brought into question the legal validly of these transactions, and in particular the legitimacy and security of electronically signed documents.

Our understanding of contracts continues to evolve. Electronic contracts that have typically taken the form of shrink-wrap, click-wrap, web-wrap, scroll-wrap, multi-wrap and sign-in-wrap agreements have undergone further developments with the introduction of automation in electronic contractual engagements and, more recently, the advent of the so-called "smart contract". Different types of smart contracts exist, including smart contracts that operate on blockchain technology. Despite these developments in commercial and contractual activities, the South African legal framework does not officially recognise smart contracts. The use of the Electronic Communications and Transactions Act, 2002 (ECTA) as a mechanism for the regulatory oversight of smart contracts in South Africa is, in its current form, woefully inadequate and limited in its application to smart contracts. Other jurisdictions, like the European Union (EU), have passed draft legislative and regulatory documentation called the Data Act to address smart contracts, whilst the UK Law Commission has provided recommendations to regulate smart contracts. As South Africa currently has no equivalent to the EU's draft Data Act and has not considered the operation of smart contracts in South Africa, the position in the EU and United Kingdom (UK) is considered in this paper to provide guidelines as to the aspects that it would be necessary to regulate in a South African context.

The rights of both company and property owner have been a burning issue when a company embarks on business rescue proceedings. This issue has been plagued by difficulties with the interpretation of "moratorium" as found in section 133(1) of the Companies Act 71 of 2008. Property owners who have concluded contracts of lease or instalment sale with a company constantly find themselves in difficult positions when the company commences business rescue proceedings. These difficulties include, inter alia, the business rescue practitioner's cancelling of agreements between the property owner and the company, and the associated procedure; the failure of the company to pay in accordance with the agreements and the property owners' recourse/cause of action; and the effect of a moratorium on those properties. This article therefore deals with the competing legal and commercial interests, including rights, of both company and property owners when a company has commenced business rescue proceedings.

Abstract Contract farming constitutes a long-term productive and commercial modality in time and space; for this reason, it is essential to approach the different interpretations of its determinants. In this sense, this article analyzes the theoretical and interpretative contributions that the main currents and schools of economic thought have raised about the factors that have decisively contributed to the development of the productive and commercial modality of the contract in agriculture, especially from the perspective of the large agro-industrial corporations. The methodology applied in this research is the literature review. The investigated currents are the French, the Anglo-Saxon, and the Latin American. In the end, it is concluded that there is a re-functionalization of the agrarian economy through contract farming; contracts are yet another business strategy for sourcing agricultural supplies; and the sources that large agro-industrial corporations must promote this productive and commercial modality are market, contractual-informal and technological. longterm long term space reason determinants sense agriculture agroindustrial agro industrial review French AngloSaxon, AngloSaxon Anglo Saxon, Saxon Anglo-Saxon American end refunctionalization re functionalization supplies market contractualinformal contractual informal technological

Resumen La agricultura contractual constituye una modalidad productiva y comercial de largo recorrido en el tiempo y el espacio; por esta razón, se considera esencial aproximarse a las distintas interpretaciones de sus determinantes. En este sentido, el presente artículo analiza las aportaciones teóricas e interpretativas que desde las principales corrientes y escuelas de pensamiento económico se han planteado en torno a los factores que han contribuido decisivamente en el desarrollo de la modalidad productiva y comercial del contrato en la agricultura, especialmente desde la perspectiva de las grandes corporaciones agroindustriales. La metodología aplicada en esta investigación es la revisión de literatura. Las corrientes investigadas son la francesa, la anglosajona y la latinoamericana. Al final, se concluye que a través de la agricultura contractual se produce una refuncionalización de la economía agraria; los contratos constituyen una estrategia empresarial para abastecerse de suministros agrícolas; y los resortes con los que cuentan las grandes corporaciones agroindustriales para fomentar esta modalidad productiva y comercial son de mercado, contractual-informales y tecnológicos. espacio razón determinantes sentido literatura francesa latinoamericana final agraria agrícolas mercado contractualinformales informales tecnológicos

RESUMEN Dentro del mundo jurídico mercantil, los contratos empresariales tienen un papel protagónico porque, a través de ellos, los empresarios pueden articular sus actuaciones y modular sus comportamientos comerciales en pro del cumplimiento de sus determinados objetivos empresariales, operativos, comerciales y asociativos. Para el caso particular de los contratos asociativos empresariales, más allá del evidente objetivo de lucro, la cooperación mutua de empresarios busca la creación de una imagen que impulse el desempeño comercial de la asociación, en general, y de cada empresario, en particular. Además, podría servir como estímulo para la creación de una sana reputación comercial. Sin embargo, a pesar de que todo contrato asociativo nace con la intención de lograr un efectivo cumplimiento de las obligaciones recogidas en el contrato, siempre es latente la posibilidad de un incumplimiento. Este último no solo afectará al empresario que incumple, sino a toda la asociación en su generalidad ya que, al actuar de forma conjunta, todos los empresarios participantes ponen en riesgo, aparte de su inversión, su propio nombre, imagen y reputación como comerciantes. Por ello, un incumplimiento que pueda afectar la reputación de todo el grupo de empresarios tendrá que ser resarcido conforme a las reglas de la responsabilidad civil, debido a que atenta a su derecho humano al buen nombre.

ABSTRACT Within the commercial legal gate, commercial agreements have a leading role and essential importance. Because through them, entrepreneurs can articulate their actions and modulate their commercial behaviors in favor of the fulfillment of their certain objectives. In the case of business associative agreements, beyond the obvious objective of profit, cooperation also seeks the creation of an image that boosts the commercial career of each entrepreneur and serves as a gateway for the creation of a healthy commercial reputation. However, although any associative contract arises because of a legitimate negotiation that has as its intention the fulfillment of the obligations that the subsequent contract will collect, the possibility of a breach is always latent, which will not only affect the non-compliant entrepreneur but the entire association, since by acting jointly, all the participating entrepreneurs put at risk, apart from his investment, his own name and image as an entrepreneur. Therefore, it is correct that in the event of a breach that affects the reputation of the entire group of entrepreneurs, this damage is compensated, in accordance with the rules of civil liability.

RESUMEN. Esta investigación identifica cómo ha sido interpretado por las altas cortes el artículo 1058 c.co. a la hora de resolver reclamaciones de seguros en las que las aseguradoras se niegan a pagar la indemnización por considerar que las tomadoras incumplieron con su deber precontractual de información. Se evidencia que las primeras interpretaciones favorecían la defensa planteada por las aseguradoras, pero que esta postura cambió al inclinarse las cortes por interpretaciones que privilegian a las demandantes, de tal forma que se tiende a mantener la validez del contrato de seguro y a condenar al pago de la indemnización.

ABSTRACT. This paper analyzes over 50 judicial decisions by the Colombian Supreme and Constitutional Courts to determine how the regime on precontractual nondisclosure and misrepresentation set in article 1058 of the Colombian Commercial Code has been interpreted. It shows that up to the first half of the 20th century the Courts tended to side with insurance companies by focusing on the insured's pre-contractual disclosure duties, but that during the last decade a shift has occurred and novel interpretation that favor the insured's position have become prevalent.

Resumé: Le contrat d’agence commerciale qui peut être défini comme celui régissant les rapports entre l’agent et le principal est né avec l'évolution du commerce et le besoin naturel d'expansion des affaires sur le territoire national ou international. En effet, l'impossibilité d’ouvrir un établissement sur tous les territoires, en plus d'autres obstacles comme la langue, font de l'agent commercial une figure importante et présente, notamment dans le cadre du commerce international. Dans cette perspective, cette étude problématisera, la question de savoir quelle est la place actuellement de l’autonomie de la volonté dans les contrats internationaux d’agence commerciale au sein de l’Union européenne (UE) et du Mercosur et son importance, compte tenu de l’inexistence à ce jour d’un droit international uniforme en la matière. La recherche se caractérise comme exploratoire, avec une approche qualitative, élaborée à partir de recherches bibliographiques. A partir d’une révision de la littérature spécialisée, de la jurisprudence et des lois applicables, l’étude permet d’affirmer que l’autonomie de la volonté a encore une place limitée dans l’ordre juridique, notamment au sein des pays du Mercosur.

Abstract: The agency contract, which can be defined as the one governing the relationship between the agent and the principal, was born with the evolution of trade and the natural need for business expansion on national or international territory. Indeed, the impossibility of opening an establishment in all territories, in addition to other obstacles such as language, make the commercial agent an important and common figure, particularly in the context of international trade. Thus, this study will problematize the question of the current place of parties' autonomy in international commercial agency contracts within the European Union (EU) and Mercosur and its importance, given the absence of a uniform international law in this area. Based on a review of the specialized literature, case law and positive law, the study confirms that parties' autonomy still has a limited place in the legal order, particularly in the countries of the Mercosur.

This article examines the various regional and supranational organisations of emerging countries that could benefit from a codification of private international law rules. They include the Organisation for the Harmonisation of Business Law in Africa (OHADA), the African Union (AU) and the Association of Southeast Asian Nations (ASEAN). In addition, the article analyses the envisaged instruments that may be especially relevant in the context of the abovementioned organisations. These include the Preliminary Draft Uniform Act on the Law of Obligations in the OHADA Region, the proposed African Principles on the Law Applicable to International Commercial Contracts and the Asian Principles of Private International Law. More specifically, the article focusses on the provisions regarding the determination of the law applicable, particularly those rules relating to a tacit choice of law in international commercial contracts.

This article provides an overview of the history of international commercial law in Africa with reference to instruments of the three sister organisations of private international law (in a wide sense): UNCITRAL (the United Nations Commission on International Trade Law), UNIDROIT (the International Institute for the Unification of Private Law) and the HCCH (the Hague Conference on Private International Law). The adoption of UNIDROIT's Cape Town Convention on International Interests in Mobile Equipment of 2001 is identified as a possible watershed moment in respect of the future development of international commercial law in Africa. Following the creation of an African Continental Free Trade Area by member countries of the African Union, it is suggested that participating states reconsider joining the United Nations Convention on the International Sale of Goods (1980) (CISG) and incorporating the UNCITRAL Model Law on International Commercial Arbitration (1985/2006), which are in a certain sense the two founding documents of the modern lex mercatoria. Another priority, the author suggests, is that Africa needs a supporting instrument on the private international law of contract. The first draft of the African Principles on the Law Applicable to International Commercial Contracts is then discussed with an emphasis on the role of substantive law instruments, in particular the CISG.

With the sharp increase in sanctions-related compliance requirements and expectations over the last decade, banks have sought various methods to mitigate the legal risk of engaging sanctioned persons or entities. The inclusion of so-called sanctions clauses in commercial contracts is one such method. In this article the author explores the use of sanctions clauses specifically in letters of credit, a practice which appears to be gaining ground. More particularly, the article explores the issues associated with the non-documentary nature of sanctions clauses, as well as the question whether the mandate given by the issuing bank to the nominated bank in respect of a letter of credit containing a sanctions clause meets the requirements of a valid contract. The author contends that sanctions clauses militate against conventional letter-of-credit practice and seriously undermine the irrevocable nature of the issuing bank's payment obligations. This is especially the case when a reference is made in a sanctions clause to internal sanctions policies or a discretion of the issuing bank in relation to honouring the credit. Consequently, banks would be well-advised not to use sanctions clauses, but if contemplated, then a reference to internal policies or a discretion of the issuing bank must be avoided at all costs. This much is in alignment with the views of leading international organisations.

The article analyses the UCP as a form of non-State law. It demonstrates that in some courts the UCP may inadvertently be applied as the governing law of the agreement instead of as contractual terms. The article proceeds to analyse the UCP against Article 3 of the Hague Principles on Choice of Law in International Commercial Contracts as well as along a set of criteria, developed by the author, that endeavours to provide certainty in the choice of non-State law. Based on the application of the above criteria the article concludes that the UCP would be suitable as a choice of governing law of the agreement.

Resumo: O clima influencia as variações nos preços da soja e do milho. Assim, avaliamos a relação entre a variável climática Oscilação Sul do El Niño (ENSO) com a razão de preços entre soja e milho para identificar os possíveis impactos no gerenciamento de riscos de preços. As regiões de comercialização de Passo Fundo (RS), Cascavel (PR), Maringá (PR), Uberlândia (Triângulo Mineiro) e Sorriso (MT) abordadas no estudo foram escolhidas de acordo com a classificação edafoclimática do MAPA. Para a estimação da efetividade e razão ótima de hedge, foi utilizado o modelo estático e generalizado de Myers e Thompson (1989) adaptado por Lien e Tse (2000) para incluir na análise a abordagem de cointegração. A inovação desse estudo é a inclusão da variável climática ENSO nessa abordagem de hedge. Os achados da pesquisa demonstram que a ocorrência do ENSO, especialmente a La Nina, exerce influência na razão de preços soja e milho e nas estratégias de hedge. Tal fato destaca a necessidade de ampliar a utilização de contratos futuros para reduzir o risco de preços principalmente na ocorrência de eventos climáticos extremos.

Abstract: Climate influences the variations in soybean and corn prices; thus, we assessed the relationship between the El Niño Southern Oscillation (ENSO) with soybean-to-corn price ratio to determine potential impacts on price risk management. The commercial areas of Passo Fundo (RS), Cascavel (PR), Maringá (PR), Uberlândia (Triângulo Mineiro), and Sorriso (MT) covered in the study were chosen according to the MAPA edaphoclimatic classification. To estimate the effectiveness and optimal hedge ratio, the static and generalized model by Myers and Thompson (1989), adapted by Lien and Tse (2000), was used to include the cointegration approach in the analysis. The innovation of this study is the inclusion of the climate variable ENSO in this hedging approach. The findings showed that ENSO, especially La Niña, affects soybean-to-corn price ratio and hedge strategies. These results highlight the need to expand the use of futures contracts to reduce the price risk during the occurrence of ENSO events.

Abstract The purpose of this paper is to offer a explanation regarding the evidentiary valuation of commercial public documents in which a diversity of concurring criteria are considered, assigning a preference to the legal criteria derived from the objectives of public trust in Commercial Law. We abandon the categories that the doctrine denominates “Legal Proof” and “Free Proof”, and propose an integrated perspective of the elements that participate in the judicial activity of evidentiary valuation and decision on facts. We hold the need to maintain a communion between, on one hand, the measures established by Commercial Law to reach a safe and efficient development of trade and, on the other hand, the judgement of facts in processes where matters regarding commercial acts, contracts and operations are being discussed.

Resumen El propósito de este trabajo es ofrecer una explicación acerca de la valoración probatoria de los documentos públicos mercantiles en la que se considera la diversidad de criterios concurrentes, asignando una preferencia a parámetros jurídicos derivados de las finalidades que tiene la fe pública en el Derecho comercial. Se abandonan las categorías doctrinales denominadas “prueba legal” y “prueba libre”, para proponer una perspectiva integrada de los factores que participan en la actividad jurisdiccional de valoración de evidencias y decisión sobre los hechos. Se postula la necesidad de mantener una comunión entre, por un lado, las medidas previstas por el Derecho comercial para alcanzar un desarrollo seguro y eficiente del tráfico y, por otro, el juzgamiento de los hechos en procesos donde se discuten cuestiones asociadas a actos, contratos y operaciones mercantiles.

RESUMEN. Este articulo analiza el proceso para la armonización del derecho mercantil en el Caribe, cuyo primer producto son los Principios ÜHADAC aplicables a los contratos mercantiles internacionales. Para ello, se examinan: la región caribeña en los ámbitos jurídico, educativo y lingüístico; la participación de organismos internacionales; los Principios OHADAC y la técnica legislativa soft law. Se concluye que la aplicación de los Principios OHADAC otorga seguridad jurídica y celeridad en la determinación del derecho aplicable a los acuerdos comerciales internacionales, estando su eficacia determinada por su propio valor intrínseco en ausencia de fuerza vinculante.

ABSTRACT. This article analyzes the process for the harmonization of commercial law in the Caribbean and its first product the OHADAC Principles applicable to international commercial contracts. To do this, it examines: the Caribbean region in the legal, educational and linguistic fields; the participation of international organizations; the OHADAC Principles and soft law legislative technique. It is concluded that, the application of the OHADAC Principles grants legal certainty and speed in the determination of the applicable law in international trade agreements and its effectiveness would be determined by its own intrinsic value in the absence of binding force.

Abstract: Does one have an obligation to keep one’s contracts? For many people, the initial inclination would be to answer “yes,” based on the strong association of contracts and promises, combined with the belief that, other things being equal, one should keep one’s promises. A closer examination of the question of the moral obligation to keep one’s contracts, however, raises complications and doubts. First, many have questioned the connection between contract and promises, arguing that contracts and contract law are best understood in some other way. Second, many are inclined to think that our duty to keep our agreements varies with how far the decision to enter the agreement deviated from optimal consent, or with facts about the fairness of the background relationship and society generally. It seems likely that one’s obligation to keep a contract will vary with its circumstances. Injustice in society, in the underlying relationship, in the negotiation of the agreement, or in the agreement’s terms would work against any such moral obligation. There also remains a question of what the content of the obligation to keep one’s contract would be, if there is one. Most of us would assume that it is a presumptive obligation actually to perform, but some would argue merely for an obligation to perform or pay damages. Though the prompt payment of damages -without disputing the breach, claiming a lower amount of damages, or threatening protracted and expensive litigation- would already be a significant advance on current common commercial practices.

Resumen: ¿Tiene uno la obligación de cumplir sus contratos? Para muchas personas, la tendencia inicial sería contestar que “sí”, debido a la fuerte relación entre contratos y promesas, aunada con la convicción de que, en igualdad de condiciones, uno debe cumplir sus promesas. Sin embargo, un análisis más detenido de la pregunta sobre la obligación moral de cumplir los contratos, plantea complicaciones y dudas. En primer lugar, muchos han cuestionado la relación entre el contrato y las promesas, argumentando que los contratos y el derecho contractual se entienden mejor de alguna otra manera. En segundo lugar, muchos suelen pensar que nuestro deber de cumplir con nuestros acuerdos varía en función de la medida en que la decisión de celebrar el acuerdo se haya desviado del consentimiento óptimo, o de los hechos sobre la equidad de la relación de fondo y la sociedad en general. Parece ser que la obligación de cumplir un contrato varía según las circunstancias. La injusticia en la sociedad, en la relación subyacente, en la negociación del acuerdo, o en las condiciones del mismo iría en contra de dicha obligación moral. También queda la pregunta de cuál sería el contenido de la obligación de cumplir el contrato, si es que existe. La mayoría de nosotros supondría que es una presunta obligación real por llevar a cabo, pero algunos sostendrían que se trata simplemente de una obligación de cumplir o pagar daños y perjuicios. Aunque el pago puntual de los daños y perjuicios -sin impugnar el incumplimiento, reclamar una cantidad menor de daños o amenazar con una litigación prolongada y costosa- ya sería un avance importante en las actuales prácticas comerciales habituales.