Appropriates meaning

Scope and purpose This Practice Note is intended to aid the review and/or negotiation of a consignment stock agreement, and sits alongside the Precedents: Consignment stock agreement—pro-customer and Consignment stock agreement—pro-supplier. Under a consignment stock set-up, the seller of goods (the consignor) places a stock of goods with the buyer (the consignee) while retaining title until the point the buyer takes or appropriates items for its own use. The buyer typically keeps the seller’s stock on its own premises and may draw on it as needed. This differs subtly from a standard supply on retention of title terms: with consignment stock (absent contrary wording), no contract of sale for identified consigned goods arises until the buyer appropriates them from the stock for use, whereas in a typical supply the contract usually exists before delivery Types of consignment stock arrangement Consignment stock arrangements can arise in various settings. They are particularly useful where an uninterrupted supply of the relevant goods is so critical to the buyer that it...

A definition of expropriation In the setting of investment treaty arbitration, expropriation arises where a state appropriates the property of a foreign investor and payment of compensation is required. A central safeguard found in almost all bilateral investment treaties (BITs) and multilateral investment treaties (MITs) is the bar on expropriation (or nationalisation) unless adequate compensation is provided. Yet the drafting of many treaties offers scant, express direction on what, precisely, is meant by expropriation. Consequently, numerous investment treaty arbitration tribunals have wrestled with drawing the boundaries of what amounts to a “taking” of property and identifying the minimum elements of what qualifies as “adequate” compensation. The effort to craft a stable definition is further hindered by the reality that the clauses in BITs are alike, though not the same. These fine textual variations have, in several investment treaty awards, become the subject of close scrutiny. This Practice Note employs the UK Model BIT to examine these questions in greater depth. Practice Notes: Investment treaty arbitration—an introduction and Protections for...