Commercial Transactions in the Virtual World: Issues and Opportunities

Front Cover
Avnita LAKHANI
City University of HK Press, Jun 30, 2014 - Law - 608 pages

 There is a growing trend in virtual world commercial transactions. In order to protect people’s rights in the virtual world and keep pace with innovative trading demands, it is essential for us to understand the commercial implications of virtual world economies by evaluating the effectiveness of the existing laws, practices, and policies in business, technology, intellectual property and related fields.

This book, in 11 sections, investigates the issues and opportunities associated with commercial transactions in the virtual world. In 29 detailed essays, this book analyses every facet of virtual world transactions, including the nature of virtual commercial transactions, virtual goods and services, transfer of virtual property, issues of negotiable instruments, remedies for buyers and sellers in the virtual world, consumer protection, dispute resolution and other related topics. Each of these sections both contributes to and advances the field of commercial law and related disciplines.

This book is an excellent source of reference for students, practitioners, academics, policy makers, and researchers as well as anyone with an interest in the exciting developments of commercial law in cyberspace.



This book is published by City University of Hong Kong Press.

香港城市大學出版社出版。


 

Contents

24
7
The Contribution of this Book to Advancing
12
Consumer Protection
13
Conclusion
19
Virtual Commercial Transactions
21
Conclusion
35
The Nature of Goods and the Bundle
59
The Current Relationship between
68
in Virtual World Transactions
329
The Nature and Characteristics
337
2
345
Implications
347
Is It Really Practical?
351
5
353
The Virtual World
355
6
367

Allocation of Rights Power of the Provider to Terminate
75
Virtual Property Rights
96
Arguing for Recognition of Real Property Rights
103
Whether Virtual Goods Should Attain Real
112
MassivelyMultiplayer Online Role Playing Games
119
Who Owns Virtual Property? 4 1 Proprietor Owns Virtual Property? 4 2 Participants Own Virtual Property? 5 What Is Virtual Property?
130
65
135
Legal Uncertainty in Various Jurisdictions Practical considerations Other Rights that Should be Attached
155
Improbable Real Sale of Virtual Goods
161
Reversed Offer and Acceptance
167
Application of Real World Laws to Virtual World Sale
173
Forms of Virtual World Transactions
180
Redefining the Sale of Goods Contract
191
Transfer of Risk in Real World Commercial Transactions
213
Applying Real World Rules to Virtual Worlds
219
Transfer of Property
225
Conclusion
235
Conclusion
241
Payment Methods and Issues
243
The Existence of Virtual World
245
How Virtual World Transactions are Made
252
Differences and Similarities of Payment Methods
259
Supervising Economic Transactions and Payments
265
146
270
Payment Methods
272
Conclusion
284
Remedies Available for Buyers and Sellers
289
126
293
Contractual Remedies
294
SelfHelp and Public Law
303
Second Life Second Remedies
309
Applicability and Practicality of Hong Kong
315
Hong Kong Sale of Goods Ordinance
321
Use of Real and Quasi Securities
327
Recognition of Virtual Property Rights
379
The Regulation of Banks and Money Lending Activities
389
155
391
6
399
8
405
The Applicability of Real World Laws in Protecting
409
200
412
173
416
161
418
3
424
5
448
133
450
EULAs vs Consumer Rights and Protections
467
Consumer Rights under Standard
471
Legal Protection
478
3
485
177
486
Recommendations
487
Dispute ResolutionADR in theVirtual World
493
6
501
Conclusion
509
An Analysis
511
7
513
134
515
Problems of ADR in the Virtual World
520
5
522
417
523
178
525
The Future for Arbitration
527
426
530
42
537
53
549
Copyright

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