Baris Soyer - Böcker

Sealy and Hooley's Commercial Law: Text, Cases, and Materials provides students with an extensive and valuable range of extracts from key cases and writings in this most dynamic field of law. The authors' expert commentary and questions enliven each topic while emphasizing the practical application of the law in its business context. Five renowned experts in the field continue the legacy of Richard Hooley and Len Sealy, capturing the essence of this fascinating topic at a time of significant legislative, regulatory, and political change.Digital formats and resourcesThis edition is available for students and institutions to purchase in a variety of formats. The e-book offers a mobile experience and convenient access along with functionality tools, navigation features and links that offer extra learning support: www.oxfordtextbooks.co.uk/ebooks

This book covers in one handy volume all the major topics associated with ship operations. Carefully, co-ordinated to ensure breadth, relevance and lack of overlap, the topics covered are addressed by authors are the very top of their profession, whether in legal practice or academia, and are presented in a manner which is topical and clear. Part I offers a detailed and critical analysis of issues of contemporary importance concerning new liability regimes and developments. Part 2 discusses how parties, in particular ship operators, attempt in contemporary practice to allocate their risks concerning ship operations. Part 3 evaluates the legal position of those involved in more ‘back office’ operations. The book provides an invaluable guide to recent legal and practical developments and offers a comprehensive, well-informed and thoroughly practical guide on what is a very complex and developing area of law. It will therefore be of great use to legal practitioners and administrators of ship operations worldwide, as well as students in this area and academics associated with maritime law generally.

This book covers in one handy volume all the major topics associated with ship operations. Carefully, co-ordinated to ensure breadth, relevance and lack of overlap, the topics covered are addressed by authors are the very top of their profession, whether in legal practice or academia, and are presented in a manner which is topical and clear. Part I offers a detailed and critical analysis of issues of contemporary importance concerning new liability regimes and developments. Part 2 discusses how parties, in particular ship operators, attempt in contemporary practice to allocate their risks concerning ship operations. Part 3 evaluates the legal position of those involved in more ‘back office’ operations. The book provides an invaluable guide to recent legal and practical developments and offers a comprehensive, well-informed and thoroughly practical guide on what is a very complex and developing area of law. It will therefore be of great use to legal practitioners and administrators of ship operations worldwide, as well as students in this area and academics associated with maritime law generally.

This book analyses the impact of two vital and contemporary developments on shipping law and practice: disruptive technologies and climate change.It considers the impact of these new technologies, honing in on likely emerging issues and unresolved questions, especially about existing and potential private law liabilities and concentrates, from the point of view of English, EU and international law, on the legal implications of climate change and associated environmental risks in the shipping sector.Written by a contributor team drawn from the most experienced and knowledgeable academics and practitioners in shipping law, this treatment of these growing areas of practice will be of great use to lawyers and administrators across the world.

This book analyses the impact of two vital and contemporary developments on shipping law and practice: disruptive technologies and climate change.It considers the impact of these new technologies, honing in on likely emerging issues and unresolved questions, especially about existing and potential private law liabilities and concentrates, from the point of view of English, EU and international law, on the legal implications of climate change and associated environmental risks in the shipping sector.Written by a contributor team drawn from the most experienced and knowledgeable academics and practitioners in shipping law, this treatment of these growing areas of practice will be of great use to lawyers and administrators across the world.

Maritime Liabilities in a Global and Regional Context consists of edited versions of the papers delivered at the Institute of International Shipping and Trade Law’s 13th International Colloquium at Swansea Law School in September 2017. Written by a combination of top academics and highly-experienced legal practitioners, these papers have been carefully co-ordinated to give the reader a first-class insight into the issues surrounding maritime liabilities. The book is set out in two parts:- Part I offers a detailed and critical analysis of issues of contemporary importance concerning maritime liabilities- Part 2 discusses contemporary issues concerning the enforcement of maritime liabilities. An invaluable guide to recent legal and practical developments in maritime liabilities, this book is vital reading for both professional and academic readers.

This book consists of edited versions of the papers delivered at the Institute of International Shipping and Trade Law’s 12th International Colloquium at Swansea Law School in September 2016. Featuring a team of contributors at the top of their profession, both in practice and academia, these papers have been carefully co-ordinated so as to ensure to give the reader a first class insight into the issues surrounding charterparties. The book is set out in three parts. -Part I offers a detailed and critical analysis of issues of contemporary importance concerning time charters. -Part 2 carries out a similar analysis with regard to voyage charterparties. -Part 3 deliberates issues common to both type of charterparties. Offering critical analysis of contemporary legal issues on charterparty contracts, this book considers recent legal and practical developments and is therefore essential reading for both professional and academic readers with an interest in charterparties.

This book consists of edited versions of the papers delivered at the Institute of International Shipping and Trade Law’s 11th International Colloquium, held at Swansea Law School in September 2015. Featuring a team of contributors at the top of their profession, both in practice and academia, these papers have been carefully co-ordinated so as to ensure to give the reader a first class insight into the issues surrounding international sale and carriage contracts. The book is set out in three parts: Part I offers a detailed and critical analysis on emerging issues and unresolved questions in international sales and the carriage contracts affected to facilitate such sales. Part II critically and thoroughly analyses the legal issues that often arise in the context of security over goods, letters of credit and similar documents. Part III is dedicated to a critical and up-to-date discussion on matters concerning cargo insurance in this context. With its breadth of coverage and high-quality analysis, this book is vital reading for both professional and academic readers with an interest in international trade and carriage of goods.

Written by a team of top academics and highly-experienced legal practitioners, this is a very complex area of law. It provides both a critical analysis on contemporary legal issues concerning offshore contracts, and an in-depth account of the numerous liability regimes inherently connected to offshore operations. Key features of Offshore Contracts and Liabilities: Detailed insight into contemporary legal issues concerning offshore contracts, including Supplytime and Heavycon In-depth analysis of the current liability regimes with clear reference to contemporary industry practice Thorough examination of the current state of the law from national, regional and international perspectives Up-to-date coverage of hot topics such as liability for offshore installations, knock-for knock agreements in offshore contracts and recently-developed new standard forms, such as Windtime. This book is an indispensable guide for legal practitioners, academics and industry professionals worldwide

The Insurance Act 2015 represents the first major reform of English commercial insurance law for many years. Its impact will be felt not only in England, where it will greatly affect both maritime and commercial insurance practice, but also elsewhere where English law is the law of choice in insurance contracts. The Insurance Act 2015: A New Regime for Commercial and Marine Insurance Law analyses in depth the key aspects of the Act and extensively restates and modifies a number of legal principles applying both at common law and under the Marine Insurance Act 1906. Offering much more than the usual commentary on legislation, this book provides critical in-depth analysis of the important topics as was all coverage of areas likely to spawn disputes in future. Written by leading practitioners and academics in the field, this book offers comprehensive, coherent and practical legal analysis of the changes introduced by the Insurance Act 2015. It is a key point of reference for practitioners, insurance professionals and academics.

Written by a team of top academics and highly-experienced legal practitioners, this is a very complex area of law. It provides both a critical analysis on contemporary legal issues concerning offshore contracts, and an in-depth account of the numerous liability regimes inherently connected to offshore operations. Key features of Offshore Contracts and Liabilities: Detailed insight into contemporary legal issues concerning offshore contracts, including Supplytime and Heavycon In-depth analysis of the current liability regimes with clear reference to contemporary industry practice Thorough examination of the current state of the law from national, regional and international perspectives Up-to-date coverage of hot topics such as liability for offshore installations, knock-for knock agreements in offshore contracts and recently-developed new standard forms, such as Windtime. This book is an indispensable guide for legal practitioners, academics and industry professionals worldwide

For centuries, warranties have played a significant role in the law of marine insurance and in this book Baris Soyer offers a comprehensive and authoritative examination of warranties in marine insurance. The book sets out the current law on marine insurance warranties as well as exploring the legal remedies available when a marine insurance warranty is breached. The third edition is brought up to date with significant discussion of recent case law including: Kosmar Villa Holidays v. Trustees of Syndicate; Pratt v Aigaion Insurance Co; Argo Systems FZE v. Liberty Insurance (Pte); The Buana Dua, The Princess of the Stars, The Nancy, and Garnat Trading & Shipping (Singapore) Pte Ltd v. Baominh Insurance Corporation with a view to identifying their impact on established legal principles. The third edition also goes on to evaluate the impact of the changes that will be introduced in this area by the Insurance Act 2015. This Act will alter the warranty regime significantly but it is also expected to have an impact on other risk alteration clauses such as condition precedents, suspensory warranties and exclusion clauses. This book is essential reading for postgraduate students and academics in international commercial law and marine insurance law as well as insurers and legal practitioners.

Written by a combination of top academics, industry experts and leading practitioners, this book offers a detailed insight into both unimodal and multimodal carriage of goods. It provides a comprehensive and thoroughly practical guide to the issues that matter today on what is a very complex area of law. From the papers delivered at the 8th International Colloquium organised by Swansea Law School's prestigious Institute of International Shipping and Trade Law, this original work considers current opinions, trends and issues arising from contracts of carriage of goods by sea, land, air, and multi-modal combinations of these, not to mention the legal position of vital participants such as freight forwarders, terminal operators and cargo insurers. The topics under discussion range through issues such as paperwork, piracy, liability for defective containers, damage in transit, the CMR Convention, and the possible effects of the Rotterdam Rules.An indispensable resource for transport lawyers, industry professionals, academics and post-graduate students of maritime law.

This book provides a comprehensive and coherent legal analysis of the impact of fraud on the position of various parties to a marine insurance contract, as well as the cover provided by standard marine policies. The issues under discussion in this invaluable guide are also equally relevant in the context of non-marine insurance contracts. Helpfully divided into two parts; the first part deals with the impact of fraud committed by parties to an insurance contract i.e. the assured, brokers and insurers.The second part analyses the extent to which standard marine policies cover the fraudulent and dishonest activity of third parties to an insurance contract.This book will be of huge practical assistant to practitioners specialising in marine insurance as well as insurance generally, and to professionals, academics and post-graduate students.

Written by a team of acclaimed practitioners and leading academics, this book brings together in one single volume an analysis of contemporary legal issues concerning ship building, sale and finance contracts. It offers a comprehensive, expert and thoroughly practical guide on what is a very complex area of law in today's international shipping industry. The book presents a detailed and critical analysis of standard and non-standard shipbuilding and sale contracts, including vital but often overlooked issues such as payment and refund guarantees, which have been at the forefront of recent litigation and practice. It also critically and thoroughly analyses several types of standard insurance contracts, including shipbuilder's risks and mortgagee's interests, which are not adequately dealt with elsewhere and it provides a critical and contemporary discussion on the legal and practical issues surrounding ship finance, ship mortgages and more esoteric issues such as the use of bareboat charters and financial derivatives.This book is an indispensable guide for legal practitioners, academics and industry professionals worldwide. The book is divided into 3 parts; Legal Issues relating to Ship Building, Ship Sale Contracts and Practice, and Legal and Practical Issues relating to Ship Finance. Each has been expertly contributed to by the leading practitioners and academics in the field from top firms, chambers and institutions including; Ince & Co, Quadrant Chambers, Haynes and Boone CDG, LLP, Holman Fenwick Willan LLP, Watson Farley & Williams LLP, 7 Kings Bench Walk, and Institute of International Shipping and Trade Law (IISTL) of Swansea University.

This edited volume brings together contributions from experienced academics and practitioners in shipping law to consider the crucial subject of remedies in shipping litigation.The collection takes a close look at the established principles and recent legal, commercial and technical developments in the area of remedies in shipping law. It is divided into three parts. The first part focuses on fundamental common law principles concerning damages, including approaches to topics such as damages for delay and what happens when a charter is thrown over early; the reflective loss rule; mitigation; and the problem of cryptocurrency. The second part considers technology and how it affects contracts and remedies, including the use of new technologies and the development of new liability regimes. The third part explores contractual remedies other than simple compensatory damages, considering issues such as limitation of liability, punitive damages, specific remedies, third party claims and liabilities, and anti-suit injunctions. Written for lawyers and administrators not only in England and Wales but worldwide (especially Germany, Switzerland, Greece, Canada, Australia, New Zealand, China, Hong Kong, Singapore and India), the book will also be of interest to specialist maritime law firms in the USA. It will be a valuable addition to specialist law libraries within Europe and the USA, and to university libraries where maritime and shipping law are taught as specialist subjects.

This edited volume brings together contributions from experienced academics and practitioners in shipping law to consider the crucial subject of remedies in shipping litigation.The collection takes a close look at the established principles and recent legal, commercial and technical developments in the area of remedies in shipping law. It is divided into three parts. The first part focuses on fundamental common law principles concerning damages, including approaches to topics such as damages for delay and what happens when a charter is thrown over early; the reflective loss rule; mitigation; and the problem of cryptocurrency. The second part considers technology and how it affects contracts and remedies, including the use of new technologies and the development of new liability regimes. The third part explores contractual remedies other than simple compensatory damages, considering issues such as limitation of liability, punitive damages, specific remedies, third party claims and liabilities, and anti-suit injunctions. Written for lawyers and administrators not only in England and Wales but worldwide (especially Germany, Switzerland, Greece, Canada, Australia, New Zealand, China, Hong Kong, Singapore and India), the book will also be of interest to specialist maritime law firms in the USA. It will be a valuable addition to specialist law libraries within Europe and the USA, and to university libraries where maritime and shipping law are taught as specialist subjects.

Remedies are vital in commercial litigation. Additionally, in commercial law, parties are usually free to choose the forum and law that will govern their disputes. This book aims to shine the spotlight on these issues and look to several new trends and developments emerging on procedural matters relating to dispute resolution. The discussions range freely over national, international, and EU legal dimensions, and the book also comes at an opportune time, with the post-Brexit jurisdiction landscape becoming more definable.This edited volume presents contributions from highly expert and experienced academics and practitioners, collectively examining a broad range of areas relating to the complex and time-consuming issues of resolution and jurisdiction of commercial disputes. The book is divided into three parts: arbitration and ADR, jurisdiction and procedure, and choice of law. Key topics featured include summary procedures in London Maritime Arbitration, reformation of the Arbitration Act, challenges to jurisdiction, stay of proceedings, anti-suit injunctions, the EU-UK judicial space post-Brexit, the application of AI to commercial disputes, and choice of law agreements.Written for lawyers and administrators not only in England and Wales but worldwide - especially Germany, Switzerland, Greece, Canada, Australia, New Zealand, China, Hong Kong, Singapore, and India – the book is also valuable for specialist law libraries in Europe and the US, some specialist maritime law firms in the US, and some university libraries where maritime and shipping law are taught as specialist subjects.

Remedies are vital in commercial litigation. Additionally, in commercial law, parties are usually free to choose the forum and law that will govern their disputes. This book aims to shine the spotlight on these issues and look to several new trends and developments emerging on procedural matters relating to dispute resolution. The discussions range freely over national, international, and EU legal dimensions, and the book also comes at an opportune time, with the post-Brexit jurisdiction landscape becoming more definable.This edited volume presents contributions from highly expert and experienced academics and practitioners, collectively examining a broad range of areas relating to the complex and time-consuming issues of resolution and jurisdiction of commercial disputes. The book is divided into three parts: arbitration and ADR, jurisdiction and procedure, and choice of law. Key topics featured include summary procedures in London Maritime Arbitration, reformation of the Arbitration Act, challenges to jurisdiction, stay of proceedings, anti-suit injunctions, the EU-UK judicial space post-Brexit, the application of AI to commercial disputes, and choice of law agreements.Written for lawyers and administrators not only in England and Wales but worldwide - especially Germany, Switzerland, Greece, Canada, Australia, New Zealand, China, Hong Kong, Singapore, and India – the book is also valuable for specialist law libraries in Europe and the US, some specialist maritime law firms in the US, and some university libraries where maritime and shipping law are taught as specialist subjects.

Written by a combination of top academics, industry experts and leading practitioners, this book offers a detailed insight into both unimodal and multimodal carriage of goods. It provides a comprehensive and thoroughly practical guide to the issues that matter today on what is a very complex area of law. From the papers delivered at the 8th International Colloquium organised by Swansea Law School's prestigious Institute of International Shipping and Trade Law, this original work considers current opinions, trends and issues arising from contracts of carriage of goods by sea, land, air, and multi-modal combinations of these, not to mention the legal position of vital participants such as freight forwarders, terminal operators and cargo insurers. The topics under discussion range through issues such as paperwork, piracy, liability for defective containers, damage in transit, the CMR Convention, and the possible effects of the Rotterdam Rules.An indispensable resource for transport lawyers, industry professionals, academics and post-graduate students of maritime law.

A sharp, informed and thoroughly practical guide to contemporary and developing issues relating to sea pollution, prepared by leading academics and practitioners with everyday hands-on experience. Pollution at Sea focuses on a number of the vital private law issues – compensation, insurance, contract and tort – thrown up by contemporary developments in the law of pollution. The book also intends to offer a critical analysis on emerging public law concepts, such as the legal position of seafarers from the perspective of criminal law in cases of pollution and the impact of port state control as a pollution control mechanism. Pollution at Sea is divided into three parts:1. Private Law Liability Regimes2. Rights and Liabilities of Particular Parties3. The Impact of Public Law on the Actors ConcernedIn part 1; various liability regimes are dissected, including those which have been under the spotlight in recent years. This section has particular international appeal, and many of the regimes discussed are based at least in part on international conventions, agreements or practices. In part 2; the impact of pollution at sea on third parties is considered, with respect to the legal position of parties that might be perused either by the victims of pollution incidents or in some cases by the parties liable by way of a recourse action. Finally in part 3; recent relevant developments, particularly in the realm of public law are covered.

For commercial organisations, certainty and stability are essential. Yet unexpected events—and shifting economic or geopolitical conditions—frequently pose serious risks. One of the most effective tools for mitigating such risks is insurance. This edited volume explores key developments in commercial insurance law, examining both doctrinal issues and their relationship with real-world market practice. It also addresses emerging trends, offering a contemporary perspective on how insurance law is evolving in response to legal, technological, and global changes. The discussion ranges across national and international contexts.The book is divided into four parts. The first parts analyse recent statutory and judicial developments in English law, assessing their impact on market practice. The authors also explore niche insurance sectors and comparative law perspectives. The third part focuses on technology-driven developments and the legal questions they raise. The final part addresses post-settlement issues, such as subrogation and the rights of assignees. In this area, longstanding principles have recently been tested in courts, yielding some unexpected—and practically significant—outcomes.Commercial Insurance Law is for lawyers and administrators not only in England and Wales but worldwide, including international commercial centres such as Germany, Switzerland, Greece, Canada, Australia, New Zealand, China, Hong Kong, Singapore and India. It will also be of interest to specialist law libraries in Europe and the USA, specialist maritime law firms in the USA, and university libraries where maritime and shipping law are taught as specialist subjects.

This book consists of edited versions of the papers delivered at the Institute of International Shipping and Trade Law’s 11th International Colloquium, held at Swansea Law School in September 2015. Featuring a team of contributors at the top of their profession, both in practice and academia, these papers have been carefully co-ordinated so as to ensure to give the reader a first class insight into the issues surrounding international sale and carriage contracts. The book is set out in three parts: Part I offers a detailed and critical analysis on emerging issues and unresolved questions in international sales and the carriage contracts affected to facilitate such sales. Part II critically and thoroughly analyses the legal issues that often arise in the context of security over goods, letters of credit and similar documents. Part III is dedicated to a critical and up-to-date discussion on matters concerning cargo insurance in this context. With its breadth of coverage and high-quality analysis, this book is vital reading for both professional and academic readers with an interest in international trade and carriage of goods.

This book consists of edited versions of the papers delivered at the Institute of International Shipping and Trade Law’s 12th International Colloquium at Swansea Law School in September 2016. Featuring a team of contributors at the top of their profession, both in practice and academia, these papers have been carefully co-ordinated so as to ensure to give the reader a first class insight into the issues surrounding charterparties. The book is set out in three parts. -Part I offers a detailed and critical analysis of issues of contemporary importance concerning time charters. -Part 2 carries out a similar analysis with regard to voyage charterparties. -Part 3 deliberates issues common to both type of charterparties. Offering critical analysis of contemporary legal issues on charterparty contracts, this book considers recent legal and practical developments and is therefore essential reading for both professional and academic readers with an interest in charterparties.

Maritime Liabilities in a Global and Regional Context consists of edited versions of the papers delivered at the Institute of International Shipping and Trade Law’s 13th International Colloquium at Swansea Law School in September 2017. Written by a combination of top academics and highly-experienced legal practitioners, these papers have been carefully co-ordinated to give the reader a first-class insight into the issues surrounding maritime liabilities. The book is set out in two parts:- Part I offers a detailed and critical analysis of issues of contemporary importance concerning maritime liabilities- Part 2 discusses contemporary issues concerning the enforcement of maritime liabilities. An invaluable guide to recent legal and practical developments in maritime liabilities, this book is vital reading for both professional and academic readers.

For centuries, warranties have played a significant role in the law of marine insurance and in this book Baris Soyer offers a comprehensive and authoritative examination of warranties in marine insurance. The book sets out the current law on marine insurance warranties as well as exploring the legal remedies available when a marine insurance warranty is breached. The third edition is brought up to date with significant discussion of recent case law including: Kosmar Villa Holidays v. Trustees of Syndicate; Pratt v Aigaion Insurance Co; Argo Systems FZE v. Liberty Insurance (Pte); The Buana Dua, The Princess of the Stars, The Nancy, and Garnat Trading & Shipping (Singapore) Pte Ltd v. Baominh Insurance Corporation with a view to identifying their impact on established legal principles. The third edition also goes on to evaluate the impact of the changes that will be introduced in this area by the Insurance Act 2015. This Act will alter the warranty regime significantly but it is also expected to have an impact on other risk alteration clauses such as condition precedents, suspensory warranties and exclusion clauses. This book is essential reading for postgraduate students and academics in international commercial law and marine insurance law as well as insurers and legal practitioners.

The Insurance Act 2015 represents the first major reform of English commercial insurance law for many years. Its impact will be felt not only in England, where it will greatly affect both maritime and commercial insurance practice, but also elsewhere where English law is the law of choice in insurance contracts. The Insurance Act 2015: A New Regime for Commercial and Marine Insurance Law analyses in depth the key aspects of the Act and extensively restates and modifies a number of legal principles applying both at common law and under the Marine Insurance Act 1906. Offering much more than the usual commentary on legislation, this book provides critical in-depth analysis of the important topics as was all coverage of areas likely to spawn disputes in future. Written by leading practitioners and academics in the field, this book offers comprehensive, coherent and practical legal analysis of the changes introduced by the Insurance Act 2015. It is a key point of reference for practitioners, insurance professionals and academics.

Written by a team of acclaimed practitioners and leading academics, this book brings together in one single volume an analysis of contemporary legal issues concerning ship building, sale and finance contracts. It offers a comprehensive, expert and thoroughly practical guide on what is a very complex area of law in today's international shipping industry. The book presents a detailed and critical analysis of standard and non-standard shipbuilding and sale contracts, including vital but often overlooked issues such as payment and refund guarantees, which have been at the forefront of recent litigation and practice. It also critically and thoroughly analyses several types of standard insurance contracts, including shipbuilder's risks and mortgagee's interests, which are not adequately dealt with elsewhere and it provides a critical and contemporary discussion on the legal and practical issues surrounding ship finance, ship mortgages and more esoteric issues such as the use of bareboat charters and financial derivatives.This book is an indispensable guide for legal practitioners, academics and industry professionals worldwide. The book is divided into 3 parts; Legal Issues relating to Ship Building, Ship Sale Contracts and Practice, and Legal and Practical Issues relating to Ship Finance. Each has been expertly contributed to by the leading practitioners and academics in the field from top firms, chambers and institutions including; Ince & Co, Quadrant Chambers, Haynes and Boone CDG, LLP, Holman Fenwick Willan LLP, Watson Farley & Williams LLP, 7 Kings Bench Walk, and Institute of International Shipping and Trade Law (IISTL) of Swansea University.

This collection of essays critically evaluates the legal framework necessary for the use of autonomous ships in international waters. The work is divided into three parts:Part 1 evaluates how far national shipping regulation, and the public international law background that lies behind it, may need modification and updating to accommodate the use of autonomous ships on international voyages. Part 2 deals with private law and insurance issues such as collision and pollution liability, salvage, limitation of liability and allocation of risk between carrier and cargo interests. Part 3 analyses international convention regimes dealing with maritime safety and other matters, arguing for specific changes in the existing conventions such as SOLAS and MARPOL, which would provide the international framework that is necessary for putting autonomous ships into commercial use. The book also takes the view that amendment of international conventions is important in the case of liability issues, arguing that leaving such matters to national law, particularly issues concerning product liability, could not only restrict or hinder the availability of liability insurance but also hamper the development of technology in this field.Written by internationally-known experts in their respective areas, the book offers a holistic approach to the debate on autonomous ships and makes a timely and important contribution to the literature.