Articles

• Cross-Border Mergers and Acquisitions in Light of the European Legal Framework

  1-12

  Leen Bakerjian

  Views:

  173

  This paper will discuss the role that Mergers and Acquisitions play in the global economy. It will deliberate on the challenges, benefits and issues of the implementation of these transactions in terms of legality, society and culture. It also contains an empirical enquiry that investigates the application of Mergers and Acquisitions in the presence of different social and cultural working environments. It also demonstrates attempts of entering into such transactions with incorrect intentions such as domination and the negative outcomes of such approach.

  Throughout this work, I will investigate the legal instruments governing these types of transactions in different areas of the world, specifically the European Union. It will touch on the legal instruments governing Mergers and Acquisitions in the European Union and will challenge the applicability of the fundamental freedoms of the European Union in light of the cross-border Mergers and Acquisitions directives. The paper will challenge the European Court of Justice’s approach to the Freedom of Establishment and the application of cross-border M&As.

  Finally, a clear demonstrateion of the fallbacks of the provisions of the Cross-Border Mergers Directives is provided as well as challenging the European legislature’s choices in drafting said directives. Unusual discrepancies between the directives and the fundamental freedoms of the European Union are shown, however these two which must always be in line with one another.

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  261

• Historical overview of liability for materail effects and warranty regulations

  13-24

  Martina Bartha-Tóth

  Views:

  178

  The liability of material effects and warranty are classic legal institutions of civil law and they are both important in the field of consumer law. The present study essentially considers the regulatory system of these jurisdictions in Hungary.

  The review starts with the private-law cases, developed at the begining of the 20th century, wich legislative provisions finally remained outside of scope. Then the Code Civil of 1959 and the Code Civil of 2013 are assessed in the review. The study does not cover the examinition of the provisions of the lower level of legislation, such as the „ warranty based on legislation compulsorily”.

  The essay focuses mainly on identifying the specifities, potential shortcomings and the shortcomings of the regulatory models used in our country. It also seeks to find the points of turn and the points of motivations, of legal policy that have made significant changes in the lives of the legal institutions.

  On the bases of this reasoning, the next tematica is observed in the test. The first large structural element is described in a description of the 1900s, 1913 and 1928 private-law codices, wich have shown a significant similarity in terms of the legal institutions.

   

  Then it follows with the introduction of Code Civil of 1959. The point of view of the legal intitutions the code was modified only two times during its long term. The first modification was in 1977, the secound in 2003 with regard to the harmonisation of European Union law.

   

  Finally comes the summary of the current Code Civil, wich has enacted some innovations in the aspect of the topic. Altough previous legislation wich based on the harmonisation has not been required significant reforms.

  PDF (Hungarian)

  278

• Overview of the Case-Law of Article XX of the Basic Law of Hungary with an Outlook for the UN Indicator of Direct Applicability

  25-37

  Bernadett Falusi

  Views:

  170

  The right to health as a human right still faces the dilemma of justiciablity. In order to overcome this obstacle, the qualitative indicator of ’direct applicability’ was introduced within the monitoring mechanism of the International Convention of the Economic, Social and Cultural Rights in 2009. This seems to be potential as a next generation indicator in the legal aspect of realization of the right to health according to László Buza, who declared that the programmatic norms of international human rights law are in need to be evaluated to reach the status of real norms. In this respect, I made research into the Basic Law of Hungary with particular attention to Article XX within the practice of the Hungarian Constitutional Court. Besides the tenth anniversary of the acceptance of the Basic Law, the recent practice of the Constitutional Court has not been reflected in state reports yet. This research is further based by the statement of the Constitutional Court, namely it is committed  in examining the relevant international and regional legal and policy aspects. To the aim of research, I investigated the ’direct applicability’ indicator as interpreted so far by the Constitutional Court and its obstacles with particular focus on the right to health and right to health care, supplemented with the aspect not indicated in state reports.

  PDF (Hungarian)

  197

• Financial consumer protection and financial culture

  38-48

  Martina Gajdos

  Views:

  215

  The global economic crisis in 2008 highlighted that there is an information assymetry between the financial service providers and consumers, furthermore given the vulnerability of the consumers there is a need for immediate actions to protect the latter. Financial consumer protection has come to the fore, which is a relatively new area of law, however by now has fought for a highly significant role for itself and its importance is growing day by day.

  Unforunately, however, the financial culture of the Hungarian population is extremely low. This carries significant risks, since citizens with lower financial literacy tend to be less active in the economic life and and they make decisions that are clearly unfavorable to them en masse, therefore the development of a financial culture is essential.

  In my opinion, financial awareness can be developed primarily through the transfer and dissemination of knowledge about financial literacy, in other words the most effective way is through education. Education should be aimed primarily at the youngest generations and the main emphasis should be on educating children, since they are extremely receptive to the acquisition of new knowledge and will have the most outstanding impact on the future. If the education of financial awareness begins at a very young age, by the time these children grow up, they will routinely make conscious financial decisions, therefore the next generation can grow up to be able to “handle money” properly. 

  PDF (Hungarian)

  404

• Judicial practice regarding the compensation for personal injuries caused by the circumstances of penal institutions, violating the fundamental rights of convicts and detainees of other dues

  49-62

  Botond Nagy

  Views:

  316

  The studied topic is the judicial practice regarding the compensation for personal injuries caused by the circumstances of penal institutions, which violate the fundamental rights of convicts and detainees of other dues. Dual research questions have been posed because of the characteristics of the covered topic. The first one is related to civil law and is about demandants’, defendants’ and courts’ attitudes and tendencies relating to the topic in question. The second question, inseparably stemming from the previous one, is from the field of penal execution: what kind of traits can be abstracted from the judicial decisions when it comes to the condition of Hungarian penal institutions.  To answer these, empirical methodology must be applied. Accordingly, I examined 91 judicial decisions from 2014 to 2020. Thus, this study depicts the entirety of the relevant time range, meaning that the demandants’, defendants’ and courts’ characteristics are introduced in their arc of development, rather than pointwisely. In my study I delineate the demandants’ actions firstly: their claims, their supposedly violated rights and the ontological phenomena causing harm. Secondly, as displaying the defendants’ statements of defence, I specify the legal arguments brought on in order to support the claim that the penal institutions caused no harm to those held captive, or that they cannot be obliged to pay compensation. Afterwards, I examine the judicial practice. Firstly, I write about the ways courts treat the claims of ascertainment, namely whether or not the rights of those who are captivated were violated. Subsequently, I portray the claims of detain, about which I illustrate the relevant regime of liability and its partial requirements. Then I write about the matrix of the compensation for personal injury and the indemnification for the prison circumstances, the relation and the delimitation of the two. Finally, I answer the research questions. I draw an ideal model about the first question, in which the parties adduce correctly and make fair judgements.  By these the demandants can make sure that the violation of their rights is ascertained and that they are given compensation.  By following the model, the defendant can achieve the lowest amount of compensation possible, while the court can make the correct decision from a dogmatic point of view. As for the penal executive question, I give suggestions to solve the problem of the circumstances of penal institutions violating fundamental rights.

  PDF (Hungarian)

  224

• Unilateral determination of working time in the effective regulations of labor law

  63-80

  Szabó Mercédesz

  Views:

  270

  In most cases, law does not differentiate between various people in equal-level positions of a contract; during sales, the State has the same rights and obligations as the contracting private person.  Labor law is a specific field of law where one of the parties that are theoretically on equal level – i.e. the employee – is actually in a somewhat subordinated and obviously more exposed position. In the light of the foregoing, it is especially notable that there are some fields of labor right where the third way applies; parties are not equally positioned in terms of power; however, it is not the employee who gets legal assistance for the equality of opportunities, but the law itself supports their disadvantaged position.  Such situation is called the legal situation of unilateral power, and we aim to study to what extent it is present in Hungarian labor law and how advantageous or disadvantageous this it to the parties.  The field of law where one is likely to detect the traces of unilateral power is the legal regulation related to working time, which, therefore, is the subject of this study, and the definition of working time will hereinafter be looked into from the aspect of the employer’s unilateral right to establish employment. Unilateral power is basically not typical to be enforced in labor law, and therefore, working time-related regulations – that belong to the employer’s own discretion – form an exception in such respect. At the same time, the option of flexible work order provides an exception from the superiority of unilateral power, and therefore it is actually an exception to the exception. Such complex system, however, provides the option to make sure whether the enforcement of unilateral power is constructive in labor law, or it would be more reasonable to apply a more balanced system such as the principle of the employer’s ultima ratio as suggested by Guy Davidov. While noting that according to those described above, flexible work order poses some potential risks, too, in our opinion, it would be more efficient and social to set up a consensus-based system, which would also allow us to satisfy our obligation of European Union legal harmonization. Hungarian legislation, and labor law legislation in particular has numerous tasks to do in order to promote the solution of socio-economic problems, as well as to fulfill our obligations related to legal harmonization; in our opinion, the conclusions above confirm that making working time regulations more liberal is one of the major tasks of legislation.

  PDF (Hungarian)

  375

• Questions around prescription by title

  81-89

  Tucsek Máté

  Views:

  414

  In this paper I am willing to introduce different aspects of the new institution of the Hungarian civil law, the so-called prescription by title. This young way of acquiring property was a novelty in the field of law and jurisprudence, and a novelty for entities as well. The law of property contains the most important and fundamental rules of private law, this is the reason why it is always ultimately important that the legislator and the exact purpose of the legislation has to be as clearly defined as possible, since this is what ensures the security of property transactions and guarantees the freedom and protection of one of the most ancient social institutions, property. By its unique nature, prescription has always been the subject of legal disputes, thus the arguments above are cumulative.

  The aim of this paper is to present the regulation of prescription by title, its dogmatic features, draw parallels with its ancestor in Hungarian legal history and an unusual foreign example, examine some relevant aspects of judicial practice and finally attempt to compose a possible  alternative regulatory technique.

  PDF (Hungarian)

  615