Topic: Law (Page 2)

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πŸ”— The Nature of the Firm (1937)

πŸ”— Economics πŸ”— Law

"The Nature of the Firm" (1937) is an article by Ronald Coase. It offered an economic explanation of why individuals choose to form partnerships, companies and other business entities rather than trading bilaterally through contracts on a market. The author was awarded the Nobel Memorial Prize in Economic Sciences in 1991 in part due to this paper. Despite the honor, the paper was written when Coase was an undergraduate and he described it later in life as "little more than an undergraduate essay."

The article argues that firms emerge because they are better equipped to deal with the transaction costs inherent in production and exchange than individuals are. Economists such as Oliver Williamson, Douglass North, Oliver Hart, Bengt HolmstrΓΆm, Arman Alchian and Harold Demsetz expanded on Coase's work on firms, transaction costs and contracts. Economists and political scientists have used insights from Coase's work to explain the functioning of organizations in general, not just firms. Coase's work strongly influenced the New Economics of Organization (New Institutional Economics).

Coase's article distinguished between markets as a coordination mechanism and firms as a coordination mechanism.

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πŸ”— COVFEFE Act

πŸ”— United States/U.S. Government πŸ”— Internet culture πŸ”— Telecommunications πŸ”— Law πŸ”— Politics πŸ”— Popular Culture πŸ”— Donald Trump

The Communications Over Various Feeds Electronically for Engagement Act (COVFEFE Act) is a bill introduced into the United States House of Representatives in 2017 (on June 12), during the 115th United States Congress.

The bill would amend the Presidential Records Act to preserve Twitter posts and other social media interactions of the President of the United States, and to require the National Archives to store such items.

U.S. Representative Mike Quigley, Democrat of Illinois, introduced the legislation in the wake of Donald Trump's routine use of Twitter, stating "In order to maintain public trust in government, elected officials must answer for what they do and say; this includes 140-character tweets. If the president is going to take to social media to make sudden public policy proclamations, we must ensure that these statements are documented and preserved for future reference." If enacted, the bill "would bar the prolifically tweeting president from deleting his posts, as he has sometimes done."

If the bill were enacted, it would see US law treat US presidents' personal social media accounts (such as Trump's "@realDonaldTrump" Twitter account) the same as "official" social media accounts (such as the "@POTUS" Twitter account).

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πŸ”— Banned in Boston

πŸ”— United States πŸ”— Law πŸ”— Freedom of speech πŸ”— United States/Massachusetts - Boston

"Banned in Boston" was a phrase employed from the late 19th century through the mid-20th century, to describe a literary work, song, motion picture, or play which had been prohibited from distribution or exhibition in Boston, Massachusetts. During this period, Boston officials had wide authority to ban works featuring "objectionable" content, and often banned works with sexual content or foul language. This even extended to the $5 bill from the 1896 "Educational" series of banknotes featuring allegorical figures which were partially nude.

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πŸ”— Closed city

πŸ”— Soviet Union πŸ”— Russia πŸ”— Law πŸ”— Politics πŸ”— Cities πŸ”— Russia/Russian, Soviet, and CIS military history πŸ”— Russia/politics and law of Russia πŸ”— Russia/human geography of Russia

A closed city or closed town is a settlement where travel or residency restrictions are applied so that specific authorization is required to visit or remain overnight. They may be sensitive military establishments or secret research installations that require much more space or freedom than is available in a conventional military base. There may also be a wider variety of permanent residents including close family members of workers or trusted traders who are not directly connected with its clandestine purposes.

Many closed cities existed in the Soviet Union until its collapse in 1991. After 1991, a number of them still existed in the CIS countries, especially Russia. In modern Russia, such places are officially known as "closed administrative-territorial formations" (Π·Π°ΠΊΡ€Ρ‹Ρ‚Ρ‹Π΅ административно-Ρ‚Π΅Ρ€Ρ€ΠΈΡ‚ΠΎΡ€ΠΈΠ°Π»ΡŒΠ½Ρ‹Π΅ образования, zakrytye administrativno-territorial'nye obrazovaniya, or Π—ΠΠ’Πž ZATO for short).

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πŸ”— HTTP 451 Unavailable for Legal Reasons

πŸ”— Internet πŸ”— Computing πŸ”— Law πŸ”— Computing/Software πŸ”— Computing/Websites πŸ”— Computing/Networking

In computer networking, HTTP 451 Unavailable For Legal Reasons is an error status code of the HTTP protocol to be displayed when the user requests a resource which cannot be served for legal reasons, such as a web page censored by a government. The number 451 is a reference to Ray Bradbury's 1953 dystopian novel Fahrenheit 451, in which books are outlawed. 451 intends to provide more information than 403 Forbidden, which is often used for the same purpose. This status code is standardized in RFC 7725.

Examples of situations where an HTTP 451 error code could be displayed include web pages deemed a danger to national security, or web pages deemed to violate copyright, privacy, blasphemy laws, or any other law or court order.

The RFC is specific that a 451 response does not indicate whether the resource exists but requests for it have been blocked, if the resource has been removed for legal reasons and no longer exists, or even if the resource has never existed, but any discussion of its topic has been legally forbidden (see superinjunction). Some sites have previously returned HTTP 404 (Not Found) or similar if they are not legally permitted to disclose that the resource has been removed. Such a tactic is used in the United Kingdom by some internet service providers utilising the Internet Watch Foundation blacklist, returning a 404 message or another error message instead of showing a message indicating the site is blocked.

The status code was formally proposed in 2013 by Tim Bray, following earlier informal proposals by Chris Applegate in 2008 and Terence Eden in 2012. It was approved by the IESG on December 18, 2015. It was published as RFC 7725 in February 2016.

HTTP 451 was mentioned by the BBC's From Our Own Correspondent program, as an indication of the effects of sanctions on Sudan and the inability to access Airbnb, iOS's App Store, or other Western web services.

After introduction of the GDPR in European Economic Area (EEA) many websites located outside EEA started to serve HTTP 451 instead of trying to comply with this new privacy law.

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πŸ”— Taxation of illegal income in the United States

πŸ”— United States πŸ”— Law πŸ”— Taxation

Taxation of illegal income in the United States arises from the provisions of the Internal Revenue Code (IRC), enacted by the U.S. Congress in part for the purpose of taxing net income. As such, a person's taxable income will generally be subject to the same Federal income tax rules, regardless of whether the income was obtained legally or illegally.

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πŸ”— Leonard vs. Pepsico, Inc

πŸ”— United States πŸ”— Law πŸ”— Marketing & Advertising

Leonard v. Pepsico, Inc., 88 F. Supp. 2d 116, (S.D.N.Y. 1999), aff'd 210 F.3d 88 (2d Cir. 2000), more widely known as the Pepsi Points case, is an American contract law case regarding offer and acceptance. The case was brought in the United States District Court for the Southern District of New York in 1999; its judgment was written by Kimba Wood.

In 1996, PepsiCo began a promotional loyalty program, in which customers could earn Pepsi Points; these points could, in turn, be traded for physical items. A television commercial for the loyalty program displayed the commercial's protagonist flying a McDonnell Douglas AV-8B Harrier II vertical take off jet aircraft to school, valued at $37.4 million at the time, which could be redeemed for 7,000,000 Pepsi Points. The plaintiff, John Leonard, discovered a loophole in the promotion, allowing him to purchase Pepsi Points at 10Β’ per point. Leonard promptly delivered a check for $700,008.50 to PepsiCo, attempting to purchase the jet. PepsiCo initially refuted Leonard's offer, citing the humorous nature of the offer in the advertisement. Leonard then sued PepsiCo, Inc. in an effort to enforce the offer and acceptance perceived by Leonard to be made in the advertisement. In her judgment, Wood sided with PepsiCo, noting the frivolous and improbable nature of landing a fighter jet in a school zone that was portrayed by the protagonist. PepsiCo would re-release the advertisement, valuing the jet at 700,000,000 Pepsi Points.

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πŸ”— Peppercorn (re: Contract Law)

πŸ”— Law

In legal parlance, a peppercorn is a metaphor for a very small cash payment or other nominal consideration, used to satisfy the requirements for the creation of a legal contract. It is featured in Chappell & Co Ltd v Nestle Co Ltd ([1960] AC 87), which stated that "a peppercorn does not cease to be good consideration if it is established that the promisee does not like pepper and will throw away the corn". However, the cited passage is mere dicta, and not the basis for the decision.

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πŸ”— McLibel Case

πŸ”— Law πŸ”— Freedom of speech

McDonald's Corporation v Steel & Morris [1997] EWHC QB 366, known as "the McLibel case", was an English lawsuit for libel filed by McDonald's Corporation against environmental activists Helen Steel and David Morris (often referred to as "The McLibel Two") over a factsheet critical of the company. Each of two hearings in English courts found some of the leaflet's contested claims to be libellous and others to be true.

The original case lasted nearly ten years which, according to the BBC, made it the longest-running libel case in English history. McDonald's announced it did not plan to collect the Β£40,000 it was awarded by the courts. Following the decision, the European Court of Human Rights (ECHR) ruled in Steel & Morris v United Kingdom the pair had been denied a fair trial, in breach of Article 6 of the European Convention on Human Rights (right to a fair trial) and their conduct should have been protected by Article 10 of the Convention, which protects the right to freedom of expression. The court awarded a judgement of Β£57,000 against the UK government. McDonald's itself was not involved in, or a party to, this action, as applications to the ECHR are independent cases filed against the relevant state.

Franny Armstrong and Ken Loach made a documentary film, McLibel, about the case.

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