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Legal reform can be the «driver» for all other reforms, including reform of the economy. A true market economy cannot be created without ensuring both full guarantees of private property and transparent predictability for entrepreneurial activity, on the one hand; and sufficiently reasonable legal control over economic processes, on the other hand. Legal reform should be an integral part of any on going reform process. Legal reform is a tool for implementing necessary reforms, to balance competing interests, create a dynamic and sustainable economy, and build a sustainable civil society. During last decades the judiciary became active in economic issues related with economic rights established by constitution because "economics may provide insight into questions that bear on the proper legal interpretation". Since many a country with a transitional political and economic system continues treating its constitution as an abstract legal document disengaged from the economic policy of the state, practice of judicial review of economic acts of executive and legislative branches became to grow. Valery Zorkin stressed that "the «separation of powers» principle, also proclaimed in the Constitution of the Russian Federation, requires observance of judicial independence. And such independence requires proper funding of the courts and their activities. It is well known that Russian courts remain under funded. However, the cumulative economic costs suffered by both state and private enterprises as the result of under performance by various judicial institutions, especially by the courts of general jurisdiction and the arbitration courts, is at least twice the order of magnitude as the financial burden carried by the state and society in financing such judicial institutions. The elimination of under funding of the courts would definitely improve the efficiency of their work and be worthwhile.

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Restatements of the Law organize the common law of the United States in a distinctive format that includes the text of legal provisions, official commentary, illustrations, and notes. They are written by the American Law Institute ALI, which is a legal organization composed of noted professors, judges, and lawyers. Restatements are divided broadly into chapters and subdivided into titles and then into sections. Each section begins with a restatement of the law, followed by hypothetical illustrations. Restatements often influence court decisions but are not binding on the courts in and of themselves. ALI has completed Restatements in over fifteen subject areas.

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Lawyers can use the law to hold governments accountable. If you want to write a postdated check just hoping it won't be cashed before a certain date, check your state's law first. Some states, including California and Georgia, place responsibility on check writers to ensure their checks are not cashed or deposited too quickly. Other states, like West Virginia, place responsibility on the person the check is written to. Often, bank tellers don't even look at the date while handling checks. While it's best to avoid postdating checks so you don't run the risk of getting hit with bounced check fees, you can contact the bank with a written or verbal request to hold the check until the future date.

Posted by Anonymous at 3:19PM | (3 comments)