Efficient Contract Remedies And the European Unification
This paper applies theoretical results that are derived from financial-economic principles to the issue of efficient contract remedies in view of the European Unification. Common Law favors the ‘expectation damages’ remedy, according to which a party who is aggrieved by a breach of contract expects an ex-post damages award, while this paper demonstrates that if the subject of the contract is traded continuously with observable values, an alternative remedy is equally efficient and just. The alternative remedy is rationalized on an ex-ante basis, and thus, courts intervention in the event of a breach of contract may not be essential. The EU aims to establish a “uniform commercial code superior to all national law.” This goal reflects current cultural differences and lacks of homogeneity, such as expectations and risk preferences across EU Member States. Lacks of homogeneity, can not, however, invalidate the above conclusion, as long as prices are continuously traded and a ‘single price’ regime prevails. Accordingly, this paper predicts that since price differentials across Member States are likely to disappear faster than other non-homogeneous factors, the Court of Justice will show a tendency to rule, utilizing the rationale underlying the ‘ex-ante regime,’ and perhaps, to overturn country-specific rulings by National Courts, which favor the ‘expectation damages regime.’
Risk Sharing through Breach of Contract Remedies
A unitary reinforcing mat for reinforcing the top portion of a self-supporting, substantially horizontal concrete slab which includes a plurality of elongated, longitudinally-extending reinforcing bars arranged in spaced, parallel relation to one another and having their free ends bent downwardly to form support legs which are substantially shorter than the remaining longitudinal portion of the bars; at least two connecting bars extending transversely across the longitudinal bars and fixedly attached thereto at points spaced from the tips of the support legs but immediately adjacent the bends in the longitudinal bars so as to rigidly support the support legs and plastic coverings on the tips of the support legs to prevent rusting of any exposed portion thereof. The mats may be formed as a plurality of joined, single longitudinal bars or as pairs of parallel, longitudinal bars and such pairs and multiple single units may be combined with their longitudinal portions parallel to one another or transversely crossing one another.
Thermally Induced Dynamics of Satellite Solar Panels
Thermally induced structural motions are known to affect the attitude dynamics of low Earth orbiting satellites during eclipse transitions. Motions of e exible appendages such as solar panels lead to rigid body rotations of the entire satellite because the total angular momentum of the system is conserved. These potentially large attitude disturbances may violate pointing accuracy and jitter requirements. One type of thermally induced dynamics exhibited by solar panels is thermal snap. The Upper Atmosphere Research Satellite is a prominent example of a satellite that experiences thermal snap disturbances during eclipse transitions. This paper describes recent studies of thermally induced dynamicsof solarpanels, including an analysisofsatelliteattitudedynamics resulting from thermally induced structural motions and a laboratory investigation of the thermal-structural performance of a satellite solar panel. Analytical and experimental results demonstrate thermal bending deformations with acceleration transients that have characteristic thermal snap disturbance histories in response to rapid changes in heating. The studies show that solar panel thermal snap disturbances are caused by through-the-thickness temperature differences that vary at a nonconstant rate. Finite element analysis correctly predicts the thermal snap phenomenon observed in the solar panel experiments.