The source of the good faith obligation in the performance and enforcement of commercial contracts

There are many issues associated with good faith that will ultimately confront the Australian High Court and a number of these have been well canvassed. However, one significant issue has attracted relatively little comment. To date, a number of Australian courts (lower in the judicial hierarchy) have been prepared to hold directly, tacitly accept or assume (without making a final determination) that good faith is implied (as a matter of law) in the performance and enforcement of a very broad class of contract, namely commercial contracts per se. This broad approach is demonstrated in decisions from the Federal Court, the New South Wales Court of Appeal, the Supreme Courts of Victoria and Western Australia and has crept into pleadings in commercial matters in Queensland

Remote monitoring of outdoor performance of low scale dye sensitized solar cells for nanosensors nodes

This is the first outdoor test of small-scale dye sensitized solar cells (DSC) powering a stand-alone nanosensor node. A solar cell test station (SCTS) has been developed using standard DSC to power a gas nanosensor, a radio transmitter, and the control electronics (CE) for battery charging. The station is remotely monitored through wired (Ethernet cable) or wireless connection (radio transmitter) in order to evaluate in real time the performance of the solar cells and devices under different weather conditions. The 408 cm2 active surface module produces enough energy to power a gas nanosensor and a radio transmitter during the day and part of the night. Also, by using a programmable load we keep the system working on the maximum power point (MPP) quantifying the total energy generated and stored in a battery. These experiments provide useful data for future outdoor applications such as nanosensor networks.

Why do family firms congregate in certain industries?

We propose that family firm involvement and performance across industries is not random and is related to specific industry conditions. Using the population of listed companies on the Taiwan Stock Exchange over the period 1997-2007 we find that family firms are more involved in industries with more fixed assets, consistent with the long-term view of family owners, and in industry conditions that make it potentially easier for family owners to consume private benefits of control. Overall, we document a positive relationship between family firm involvement and performance, which indicates a net advantage for family firm shareholders in industries where family firms congregate. However, we also find that family firm performance is negatively affected when family firms use more debt and maintain a higher control wedge than their industry counterparts.