Browsing by Author "Teshome, Tilahun (Professor)"
Item The Law and Practice of Warehouse to Warehouse Marine Insurance in Ethiopia(Addis Ababa University, 2018-01) Siraj, Habtamu; Teshome, Tilahun (Professor)In international trade supplier and importer conclude sale contract. The movement or transit of goods from supplier’s country to buyer’s country automatically raises different questions. These are who cover cost of transportation? Who is responsible to arrange marine cargo cover? Who is responsible to arrange carriage and who is responsible to fulfill various documents? These questions can be answered by agreed INCOTERM under the sale contract. The adoption or recognition of any of INCOTERM by any country has its own effect on macroeconomic and micro economic policy of a given state. Because, foreign exchange, marine cargo insurance underwriting by domestic insurer and protection of national carrier is determined by the INCOTERM a country adopts. In an attempt to address proposed research questions the research employed both doctrinal and non-doctrinal approach. Specifically the research has employed review of literature, interview and case study as a methodology. The research has found out that from imperial regime onwards with view to protect domestic insurance companies Ethiopia recognized FOB INCOTERM implicitly as freight control mechanism. However, there is interruption in adhering to FOB INCOTERM during change of governments. During EPRDF regimes from transitional period up to1990’s importers were not adhere to FOB delivery term. However, from 1990 onwards Ethiopia adopted FOB sea transport policy and directives with waiver directives of ESLSE. However, Air transport Ethiopia was liberalized without recognition of any INCOTERM. But this FOB policy and directives of the country is not yet fully appreciated by its stakeholders (importers, underwriting companies and other stake holders). It is also hardly possible to hold that Ethiopia has adequate formal laws and policy guide lines in relation to adoption of any of the INCOTERMS. When parties to international sale agreed FOB INCOTERM risk of loss or damage to goods transferred from supplier to importer when the goods passes the ships rail. In such case importers have insurable interest to insure their goods from port of loading to final destination warehouse. However, there is a practice of marine cargo underwriting from warehouse or from named country of supplier (e.g. from china, Italy and India etc) to named dry port or final destination warehouse. This practice of marine cargo underwriting is incompatible with adopted FOB marine carriage policy of Ethiopia. On top of this, this research reveals that there is a disparity on use of either of the two version ICC (A, B and C) 1/1/1982 or 1/1/2009 among underwriting companies in Ethiopia. Therefore, the absence of clear and detail policy framework on recognition and adoption of INCOTERMS and ICC highly affects the process of marine cargo underwriting, marine cargo claims and recoveries, which has adverse effect on growth and development of insurance industry in Ethiopia. Keywords: INCOTERMS, ICC (A, B and C).Item The Legal and Institutional Framework for the Regulation of Tax Avoidance and Evasion in Ethiopia(Addis Ababa University, 2013-03) Tesso, Ketema; Teshome, Tilahun (Professor)Item The Legal Effects of a Change of Circumstances on the Binding Force of Contracts: Comparative Survey(Addis Ababa, 2019-01) Tsegaye, Getahun; Teshome, Tilahun (Professor)The principle that contracts are made to be kept, articulated in the old maxim-pacta sunt servanda- perhaps comprises the bedrock of all contract law systems. The principle, however, has never been regarded absolute throughout its history: almost all legal systems traditionally recognised limitations on its application, particularly where unforeseen supervening events make performance of contracts absolutely and objectively impossible. However, such uniform position is lacking among legal systems when it comes to how the law should respond to the cases in which the supervening circumstances merely render performance of contracts extremely burdensome or the counter-performance to be received virtuall y worthless to one of the parties. These latter cases formed the main focus of this research: and the generic expressions 'the problem of change of circumstances' and 'the doctrine of change of circumstances', have been respectively employed to refer to the questions involved therein and the specific legal devices applied to address them. The doctrine of change of circumstances found its original expression in another old maxim of contracts law- the ribus sic stantibus - which embraced the core idea that contracts stay the same only so far as the states of affairs present upon their conclusions remain constant. In its early application, the doctrine was viewed as an implied condition attached to all contractual promises. Due to this reason, its application was never perceived to contradict with the other paramount principle of contracts law- pacta sunt servanda. Thus it enjoyed wide-spread acceptance among legal systems, before the oppositions based on the 19 th century classical theories of contracts later brought its demise. Application of the doctrine was deplored by the classical views to cause erosions to the core principle of binding force of contracts, and thereby threaten freedom of contracts and security of transactions. At least for some period, this led to its disappearance from the legal scene altogether. But it once again started to re- emerge in many jurisdictions, particularly due to the post-WWI and WWII huge economic dislUptions caused in many parts of the world. This marked the final comeback of the doctrine and its continued acceptance both in the theories and applicable IUles of the modern contracts law. This study was thus commenced with the basic objective of identifying the justifications behind this modern comeback of the doctrine and how it may be related to ensuring XItem The Regulation of Related Party Transactions in the Ethiopian Financial Sector: With Special Focus on Banks(Addis Ababa University, 2013-02) Redae, Getachew; Teshome, Tilahun (Professor)The main purpose of the research paper is to examine whether or not the regulation of related party transaction in the financial sector in general has got due attention and whether the regulation of related party transactions in the Ethiopian financial sector was adequate or not in particular. In this regard, it can be said that though we may get many researches and literatures dealing with corporate governance issues, there are relatively a few researches and literatures which deal with the regulation of related party transactions. Even, the available materials provide with the related party transactions in the nonfinancial sector in general. However, the regulation of related party transactions in the financial sector is different from non-financial sector. Even if related party transaction has a great effect on a company, financial sector and the economy of a given country, the attention given to it was relatively little. Companies and countries began to regulate related party transactions after the occurrences of several financial company collapses thought to be mainly affected by abusive related party transactions. Besides, the discussion in the regulation of related party transactions in the Ethiopian financial sector comes to the conclusion that its regulation is not given proper attention and is not adequate in general. For example, the important legal regulation instruments in the regulation of related party transactions in the financial sector such as the requirements of disclosure and approval of related party transactions are not available in Ethiopia. Besides, the concepts of materiality and immateriality of related party transactions and their distinction is not provided in the existing Ethiopian laws. Even if an attempt is made to define related parties from the context of commercial banks, there is no definition for related party transactions. In addition, the available relevant law in Ethiopia is simply concerned with the limitation of loans of commercial banks to their related parties. Hence, other types of related party transactions are not regulated well in the existing Ethiopian laws. On the other hand, the remedies and sanctions in case of violations of regulations of and abusive related party transactions are not provided in Ethiopia. Particularly, the application of class action and/or derivative suits to the claims of abusive related party transactions in the Ethiopian financial sector is not provided clearly.Finally, it should be remembered that great efforts were exerted to indicate the concerns, gaps and problems in relation to the regulation of related party transactions in the financial sector in general and in the financial sector in Ethiopia in particular and finally come up with some possible solutions. Key words: related party, related party transactions, abusive related party transactions, arms length basis, disclosure and approval