{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/retroactivity",
 "identifier": "kaal:entity:retroactivity",
 "name": "Retroactivity",
 "termCode": "retroactivity",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/retroactivity.md",
 "sha256": "ec0288c249bb2fcdad262a4364387804701c90f4474fbce7b4a5f76da0c1dd26",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2017",
    "2017"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2834531-040",
   "identifier": "kaal:claim:2834531-040",
   "text": "The principle based approach has a shortcoming the authors concede: it is usually impossible to comply with principles that could change after the fact, and the approach may let regulators promulgate fact based laws and rules through the backdoor.",
   "abstract": "The argument is that it is usually impossible to comply with principles that could change \"after the fact.\"107 That is to say, a principle–based approach may facilitate policy makers, lawmakers, and regulators in promulgating facts–based laws and rules through the backdoor.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, Regulation Tomorrow What Happens When Technology Is Faster Than the Law (2017). SSRN: https://ssrn.com/abstract=2834531",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "from the perspective of regulated companies operating under principles"
   ],
   "source_pdf_sha256": "9cd875ebdb0266febbdcdabfca5b9b9f0de1b7ad9e3d5a8a5971bdbe469323b7",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3017612-024",
   "identifier": "kaal:claim:3017612-024",
   "text": "Transfer restrictions cannot be imposed on shareholders who did not consent: Delaware refuses to allow them unless the holders are parties to the agreement or voted for the restriction, and courts have refused to apply restrictions retroactively to nonconsenting shares.",
   "abstract": "Likewise, Delaware does not allow transfer restrictions \"unless the holders of the securities are parties to an agreement or voted in favor of the restriction.\"78 Courts have also refused to allow transfer restrictions to be applied retroactively to nonconsenting shares.",
   "citation": "Wulf A. Kaal, Shareholder Agreements - National Report of the United States of America (2017). SSRN: https://ssrn.com/abstract=3017612",
   "datePublished": "2017",
   "claim_type": "condition",
   "confidence": "evidenced",
   "is_failure_mode": true,
   "scope_conditions": [
    "Delaware and states following the same rule",
    "previously issued shares"
   ],
   "source_pdf_sha256": "33821db406f92efbe1698fbaed37687595c13b7ce5463b4a879df679fd4af1ac",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'retroactivity'. Derived node: a roster, not an adjudicated definition."
}