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Global | Publication | October 9, 2015
The statute of frauds is a venerable doctrine in real estate law, requiring most real estate contracts to be in writing. But in the age of tweets, texts and instant messages, do such informal communications qualify as "writings"?
The California Legislature attempted to answer that question with Assembly Bill 2136, which took effect Jan. 1 this year. It provides the "ephermeral" electronic communications, such as text messages and IMs, don't satisfy the statute's requirements for writings-meaning a contract reached using those kinds of communications may not be enforceable.
Read the full article: Can texts be writings under the statute of frauds
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In this edition of Regulation Around the World we review the position regarding beneficial ownership registers which has come into the spotlight following work by the Financial Action Task Force and the introduction of reforms in a number of jurisdictions.
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The European Union’s Foreign Subsidies Regulation (the FSR) entered into force on 12 January 2023 and creates a new regime aimed at combating distortions of competition on the EU internal market caused by foreign subsidies. It imposes mandatory notification and approval requirements for acquisitions of significant EU businesses and large EU public tenders, and gives the European Commission (EC) extensive powers to launch ex officio investigations. The notification requirements go live on 12 October 2023.
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