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Examines the valuation of a real estate leasing certificate in Belgium. Develops a detailed model, which derives from the valuation theory concerning participating, redeemable bonds. Permits a user to generate valuations of real estate certificates for any number of assumptions. Concludes that a real estate valuer could also use the model to test the reasonableness of their expert valuations against the tables.

The question of responsibility is not new to labour law. The earliest developments in labour law and social law sprang from a “legal revolution” to borrow the words of Georges Scelle, considering the concept of responsibility that prevailed in common law. Civil responsibility which was originally based on fault could now be based on the risk inherent to a socially useful activity so as to ensure that the responsibility for damages that might result from it be equitably shared. This development took place under the generalization of the industrial production mode, first within the frame work of laws respecting compensation for industrial accidents.

Through a survey of 200 employees working in five of the thirty establishments analysed in previous research about the microeconomic effects of reducing the working time (Cahier 25), the consequences on employees of such a reduction can be assessed; and relevant attitudes and aspirations better known.