International Legal English

By: Benjamin Koper
  • Summary

  • Full Disclosure: I made this podcast with 100% AI tools. It complements the International Legal English textbook but can be useful on its own for self-study. Whether you're a lawyer, law student, or legal professional, this podcast helps you improve your Legal English skills. Each episode breaks down essential legal vocabulary, grammar, and real-world usage in contracts, negotiations, and court proceedings. Designed for non-native speakers, we focus on clear explanations, practical examples, and useful tips to boost your legal communication.
    Benjamin Koper
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Episodes
  • Director Liability Case Studies
    Mar 10 2025

    Main Themes and Key Ideas:

    • 1. Breach of Duty of Care and the Business Judgment Rule

      • Directors must act with due diligence and in the best interests of the company and shareholders.
      • Case: Smith v. Van Gorkom (1985) – Established liability for "gross negligence" in uninformed decision-making.
      • Impact: Led to Delaware exculpation clauses (§102(b)(7)) shielding directors from personal liability for duty of care breaches (with exceptions).

      2. Failure of Oversight (“Caremark” Claims)

      • Directors must implement and monitor compliance systems.
      • Case: Boeing 737 MAX (2019–2021) – Directors paid $237.5 million for failing to monitor safety risks.
      • Key Takeaway: The business judgment rule does not protect directors who fail to monitor critical risks.

      3. Personal Liability for Fraud and Egregious Misconduct

      • Directors may face personal financial liability in extreme fraud cases.
      • Cases: Enron & WorldCom (2005) – Outside directors paid millions personally.
      • Significance: Highlights accountability when directors fail to prevent fraud.

      4. Wrongful Trading and Insolvency

      • Directors must consider creditor interests when insolvency is likely.
      • Case: Re Produce Marketing Consortium (1989, UK) – Directors held personally liable for losses due to wrongful trading.
      • Principle: Wrongful trading liability is primarily compensatory, not punitive.

      5. Duty of Diligence and Financial Literacy

      • Directors must understand financial statements and cannot blindly rely on auditors.
      • Case: ASIC v. Healey ("Centro" Case, 2011, Australia) – Board held liable for financial reporting errors.
      • Impact: Reinforced the need for directors to engage in financial oversight.

      6. Liability for Negligence Leading to Public Harm

      • High-risk industries may impose personal liability on directors for negligence.
      • Case: Fukushima Nuclear Disaster (2011/2022, Japan) – Former TEPCO executives ordered to pay $95 billion for failing to prevent the nuclear meltdown.
      • Key Takeaway: Some jurisdictions are increasingly holding directors accountable for catastrophic harm.

      7. Contractual Clauses Defining and Limiting Liability

      • Exculpation Clauses (Delaware Example): Shields directors from duty of care breaches except in cases of bad faith or misconduct.
      • LLC Limitation of Liability: Protects directors unless "willful misfeasance, bad faith, gross negligence, or reckless disregard" is proven.
      • Indemnification Agreements (Oracle Example): Covers legal expenses if directors acted in good faith.

      Conclusion:While the business judgment rule provides some protection, directors can face personal liability for duty of care breaches, oversight failures, fraud, and wrongful trading. Legal precedents across jurisdictions highlight key risks, while contractual mechanisms aim to balance accountability with attracting competent board members. The interpretation of these principles varies based on jurisdiction and case specifics.

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    31 mins
  • Secured Transactions
    Mar 6 2025

    I. Core Concepts and Definitions

    • Loan: A lender provides money to a borrower, who agrees to repay it with interest.
    • Mortgage: A debt instrument where real property serves as security for a loan.
    • Pledge: A debtor deposits personal property as collateral.
    • Lien: A creditor’s claim on a debtor’s property to secure payment.

    II. Purpose of Secured Transactions

    • Provide credit for the borrower.
    • Ensure security for the lender.Quote: "The purpose of secured transactions is to provide credit for the borrower and security for the lender."

    III. Security vs. Quasi-Security

    • Security: Grants the lender a right in rem, binding third parties from freely purchasing the security.
    • Quasi-Security: Secures payment or performance without granting a right in rem.Quote: "Security differs from other arrangements as it binds third parties, restricting free transfer."

    IV. Types of Security Interests

    • Possessory Security (Pledge): The creditor takes possession of collateral (e.g., pawned goods).
    • Non-Possessory Security:

    Quote: "A fixed charge creates a security interest in specific property, while a floating charge allows the debtor to deal with assets freely until default."

    V. Consensual vs. Non-Consensual Security Interests

    • Consensual: Created through an agreement granting the creditor an interest in debtor property.
    • Non-Consensual: Imposed by law, such as unpaid sellers' liens.

    Quote: "All the security interests mentioned above are consensual, created through a security agreement."

    VI. Perfection and Attachment

    • Perfection: Establishes creditor priority, done via:
    • Attachment: When the creditor’s interest becomes vested in the collateral.

    Quote: "Perfection ensures priority and puts third-party creditors on notice of the security interest."

    VII. Key Comparisons

    • Security vs. Quasi-Security: Security allows creditors to seize and sell property; quasi-security often means the creditor owns the asset while the debtor merely has possession.
    • Fixed Charge vs. Floating Charge: Fixed applies immediately; floating only applies when crystallized (e.g., upon non-payment).

    VIII. Common Collocations

    • Collateral: to attach
    • Credit: to provide
    • Indebtedness: to secure
    • Loan: to secure
    • Payment: to make
    • Performance: to enforce
    • Security Interest: to perfect, to enforce

    Conclusion:Secured transactions help balance borrower access to credit with lender protection. Understanding different security interests, perfection rules, and distinctions between fixed and floating charges ensures effective financial management.

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    19 mins
  • Competition Law: Cartels, Mergers, Monopolies, and Oligopolies
    Mar 4 2025

    I. OverviewThis episode explores key concepts in competition law, a field combining economics and law to regulate business practices and prevent anti-competitive behavior. The goal is to enhance market efficiency, maximize consumer benefit, and ensure fair competition.

    II. Key Concepts and Definitions

    • Cartel: An agreement among competing businesses to control prices or output, often thriving in markets with high entry barriers.
    • Monopoly: A business or group that dominates a market, controlling supply and price while excluding competitors.
    • Oligopoly: A market structure with few players who can coordinate pricing or output decisions.
    • Merger: The combination of companies, which can be horizontal (same supply chain level) or vertical (different supply chain levels).

    III. Historical Context and Jurisdictions

    • EU Competition Law: Aims to prevent businesses from restricting market competition within the single European market.
    • US Antitrust Law: Originated with the Sherman Act to combat industrial monopolies in the late 19th century, particularly in railways, steel, and coal.

    IV. Anti-Competitive Activities & RegulationsCommon anti-competitive behaviors include:

    • Predatory Pricing: Temporarily lowering prices to eliminate competitors.
    • Tie-in Arrangements: Requiring customers to buy additional products/services as a condition of sale.
    • Price-fixing: Competitors agreeing to set prices, reducing market competition.
    • Barriers to Entry: Unfair licensing or regulations that restrict new businesses.

    The US prohibits attempts to monopolize, while merger regulations in both the US and EU seek to limit excessive market concentration.

    V. EU Competition PolicyA major focus is on antitrust and cartels, eliminating restrictive agreements and preventing abuse by dominant firms.

    VI. Practical ConsiderationsThe episode also covers legal terminology exercises and insights from antitrust newsletters, offering useful information for lawyers, businesses, and regulators.

    VII. Key Takeaways

    • Competition law ensures fair markets and protects consumers.
    • Approaches differ across jurisdictions, particularly between the EU and US.
    • Cartels, monopolies, and other anti-competitive practices are strictly regulated.
    • Staying informed on evolving competition laws is crucial for businesses in regulated industries.
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    22 mins

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