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Full-Text Articles in Business Law, Public Responsibility, and Ethics

Front Matter And Faculty Notes Jan 2014

Front Matter And Faculty Notes

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Leveraging Property Tax Growth: Tax Increment Financing In Tennessee, G. Mark Mamantov, Jeffrey A. Oldham, Jordana K. Nelson, James P. Moneyhun Jr. Jan 2014

Leveraging Property Tax Growth: Tax Increment Financing In Tennessee, G. Mark Mamantov, Jeffrey A. Oldham, Jordana K. Nelson, James P. Moneyhun Jr.

Transactions: The Tennessee Journal of Business Law

Local economic development officials face the daunting challenge of attracting new businesses and promoting worthy projects in challenging economic times, when every community in the country is prepared to vigorously compete for any new project. As local economic development officials in Tennessee strive to promote their communities, they try to utilize every possible tool in the economic development toolbox to make their location as attractive as possible. At the local level, however, the breadth of incentives in Tennessee is fairly limited, and the mythical toolbox is not very full.

However, one type of incentive that has become a tool frequently ...


Dysfunction In Contract Drafting: The Causes And A Cure, Kenneth A. Adams Jan 2014

Dysfunction In Contract Drafting: The Causes And A Cure, Kenneth A. Adams

Transactions: The Tennessee Journal of Business Law

The primary task in empirical research is describing the characteristics of whatever it is you’re researching, but usually you also attempt to explain your findings. The skills required for the former task differ from those required for the latter, so it’s not unusual that explanations offered by those who undertake research are superseded by better explanations subsequently offered by others.

That comes to mind on reading The Three and a Half Minute Transaction: Boilerplate and the Limits of Contract Design, by Mitu Gulati, a professor at Duke Law School, and Robert E. Scott, a professor at Columbia Law ...


Abi Commission Testimony November 7, 2013, George W. Kuney Jan 2014

Abi Commission Testimony November 7, 2013, George W. Kuney

Transactions: The Tennessee Journal of Business Law

There are two areas that I believe should be the focus of Chapter 11 reform: reducing reorganization costs in small to middle-market cases and instituting a uniform structure and process for § 363 sales of substantially all the assets of a debtor. Essentially, I think that the plan process in all cases needs to be streamlined and sped up to decrease transactions costs, and the 363 sale process needs to be slowed down to promote more robust disclosure and exposure of the assets in question to the market.


The University Of Tennessee College Of Law's Business Law Clinic Continues To Make An Impact For Students, Clients, And The Community, Michael R. Crowder Jan 2014

The University Of Tennessee College Of Law's Business Law Clinic Continues To Make An Impact For Students, Clients, And The Community, Michael R. Crowder

Transactions: The Tennessee Journal of Business Law

In 1992, the American Bar Association published a report entitled Legal Education and Professional Development – An Educational Consortium (commonly known as the MacCrate Report), and in 2007, the Carnegie Foundation published a report entitled Educating Lawyers: Preparation for the Profession of Law, (known as the Carnegie Report). Both reports made suggestions for improving the immediate usefulness of legal education, and, although published fifteen years apart, both reports essentially advocated the same thing: that legal education should place more of an emphasis on practical skills training in order to increase its usefulness to law graduates and their employers. The disconnect between ...


When Should Ediscovery Vendors Be Disqualified?, Michael A. Cottone Jan 2014

When Should Ediscovery Vendors Be Disqualified?, Michael A. Cottone

Transactions: The Tennessee Journal of Business Law

As a general proposition, courts have inherent authority to disqualify parties and their representatives and consultants from participating in litigation. Attorneys, expert witnesses, and litigation consultants may face disqualification motions in the event of a conflict of interest. With the rapid expansion of the eDiscovery industry, however, a new question has arisen: If an eDiscovery vendor has a potential conflict of interest, when should it be disqualified? What standard should apply?


2013 Jobs Act Review & Analysis Of Emerging Growth Company Ipos, Todd Blakeley Skelton Jan 2014

2013 Jobs Act Review & Analysis Of Emerging Growth Company Ipos, Todd Blakeley Skelton

Transactions: The Tennessee Journal of Business Law

In April 2012, the U.S. Congress passed the Jumpstart Our Business Startups Act (the “JOBS Act”) with the goals of expanding access to capital markets and increasing flexibility in capital formation. In short, the JOBS Act eases restrictions imposed by federal securities laws. These laws—primarily the Securities Act of 1933, as amended (the “Securities Act”), the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Sarbanes-Oxley Act of 2002,5 as amended (the “Sarbanes-Oxley Act”), and the Dodd-Frank Wall Street Reform and Consumer Protection Act,6 as amended (the “Dodd-Frank Act”)—are intended to protect both ...


Case Commentaries Jan 2014

Case Commentaries

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Vestigal Literalism In The Interpretation Of Corporate Financing Instruments, Royce De R. Barondes Jan 2014

Vestigal Literalism In The Interpretation Of Corporate Financing Instruments, Royce De R. Barondes

Transactions: The Tennessee Journal of Business Law

Modernly, one will study the law of contracts as a homogeneous body of law. The conceptualization is helpful in creating an appearance of order, allowing for the development of analytical frameworks. The construct breaks down, however, on detailed inspection. This article provides an illustration by examining aspects of the law governing corporate finance—legal principles at the intersection of the law of contracts and corporation law.

This article examines the application of contract doctrine to corporate financing transactions to a number of ends. First, it illustrates substantial inconsistencies in the application of contract doctrine depending on the subject matter. Principles ...


Judge Rakoff V. The Securities And Exchange Commission: Are "Neither Admit Nor Deny" Settlement Agreements In Securities Cases In The Public Interest?, Daniel T. Hubbell Jan 2014

Judge Rakoff V. The Securities And Exchange Commission: Are "Neither Admit Nor Deny" Settlement Agreements In Securities Cases In The Public Interest?, Daniel T. Hubbell

Transactions: The Tennessee Journal of Business Law

“DPAs [(Deferred Prosecution Agreements)] have had a truly transformative effect on particular companies and, more generally, on corporate culture across the globe,” declared Lanny Breuer, the head of the Criminal Division of the U.S. Department of Justice (DOJ) on September 13, 2012.2 Deferred prosecution agreements (DPAs) and non-prosecution agreements (NPAs) are settlement agreements between a prosecutor and a defendant in which the prosecutor agrees to either defer or forego prosecution in return for the defendant’s cooperation in an ongoing investigation or prosecution, as well as an agreement to comply with the requirements of the settlement. Rather than ...


Legal Form, Style, And Etiquette For Email, George W. Kuney Dec 2013

Legal Form, Style, And Etiquette For Email, George W. Kuney

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Proposed Subordination Provisions For Master Trust Indenture, Taylor K. Wirth Dec 2013

Proposed Subordination Provisions For Master Trust Indenture, Taylor K. Wirth

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Using An Interviewing, Counseling, Negotiating, And Drafting Simulation In The First Year Legal Writing Program, Kirsten A. Dauphinais Dec 2013

Using An Interviewing, Counseling, Negotiating, And Drafting Simulation In The First Year Legal Writing Program, Kirsten A. Dauphinais

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Transactional Drafting: Using Law Firm Marketing Materials As A Research Resource For Teaching Drafting, Ted Becker Dec 2013

Transactional Drafting: Using Law Firm Marketing Materials As A Research Resource For Teaching Drafting, Ted Becker

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Case Commentaries Dec 2013

Case Commentaries

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Front Matter And Faculty Notes Dec 2013

Front Matter And Faculty Notes

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Willful Blindness, Plausible Deniability, And Tippee Liability: Sac, Steven Cohen, And The Court's Opinion In Dirks, Joan Macleod Heminway Dec 2013

Willful Blindness, Plausible Deniability, And Tippee Liability: Sac, Steven Cohen, And The Court's Opinion In Dirks, Joan Macleod Heminway

Transactions: The Tennessee Journal of Business Law

No abstract provided.


The First Year: Integrating Transactional Skills, Lynnise E. Pantin Dec 2013

The First Year: Integrating Transactional Skills, Lynnise E. Pantin

Transactions: The Tennessee Journal of Business Law

No abstract provided.


A More Realistic Approach To Directors' Duties, Michelle M. Harner Dec 2013

A More Realistic Approach To Directors' Duties, Michelle M. Harner

Transactions: The Tennessee Journal of Business Law

No abstract provided.


A Cultural Revolution: The Demise Of Corporate Culture Through The Whistleblower Bounty Provisions Of The Dodd-Frank Act, Rachel S. Taylor Dec 2013

A Cultural Revolution: The Demise Of Corporate Culture Through The Whistleblower Bounty Provisions Of The Dodd-Frank Act, Rachel S. Taylor

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Front Matter Jan 2012

Front Matter

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Forward: Reforms For Hire: The Jobs Act Legislation, Joan Macleod Heminway Jan 2012

Forward: Reforms For Hire: The Jobs Act Legislation, Joan Macleod Heminway

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Reforms For Hire: The Jobs Act Legislation, James E. Bitter, Todd B. Skelton Jan 2012

Reforms For Hire: The Jobs Act Legislation, James E. Bitter, Todd B. Skelton

Transactions: The Tennessee Journal of Business Law

Just over ten years ago, following corporate and accounting scandals in which investors lost billions of dollars, Congress enacted the Sarbanes-Oxley Act of 2002. Sarbanes-Oxley reformed public accountability reporting standards, raising the costs of compliance. In 2010, following the recent financial crisis, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The Dodd-Frank Act further increased market regulation. Sarbanes-Oxley and the Dodd-Frank Act have together worked to stem market participation.

On April 5, 2012, President Barack Obama signed the bipartisan Jumpstart Our Business Startups Act (the “JOBS Act”). The JOBS Act now seeks to ease ...


Forward: 2013 Revisions To The Tennessee Business Corporations Act, Joan Macleod Heminway Jan 2012

Forward: 2013 Revisions To The Tennessee Business Corporations Act, Joan Macleod Heminway

Transactions: The Tennessee Journal of Business Law

No abstract provided.


2013 Revisions To The Tennessee Business Corporation Act, Trevor Mcelhaney Jan 2012

2013 Revisions To The Tennessee Business Corporation Act, Trevor Mcelhaney

Transactions: The Tennessee Journal of Business Law

The Tennessee Business Corporation Act, as amended (“TBCA”), is the primary governing authority over the formation and operation of all Tennessee for-profit corporations. The TBCA was enacted in 1986 and became effective on January 1, 1987, replacing the Tennessee General Corporation Act of 1968. The TBCA is codified in sections 48-11-101 through 48-27-103 of the Tennessee Code Annotated.

In general, the TBCA was enacted as an enabling statute and was written to conform to the standards of the Revised Model Business Corporation Act (“MBCA”), which was adopted by the Corporate Law Committee of the Business Section of the American Bar ...


Determining The Proper Standard For Invalidating Arbitration Agreements Based On High Prohibitive Costs: A Discussion On The Varying Applications Of The Case-By-Case Rule, Richard A. Bales, Mark B. Gerano Jan 2012

Determining The Proper Standard For Invalidating Arbitration Agreements Based On High Prohibitive Costs: A Discussion On The Varying Applications Of The Case-By-Case Rule, Richard A. Bales, Mark B. Gerano

Transactions: The Tennessee Journal of Business Law

Arbitration is a common means of resolving commercial disputes. Although arbitration is an attractive alternative to litigation, arbitration can be disadvantageous to a potential plaintiff because of high costs. The United States Supreme Court endorsed a “liberal … policy favoring arbitration agreements” whenever possible. However, a party is often at a disadvantage upon signing an arbitration agreement when little understanding of the agreement’s cost implications exist. Such scenarios can arise when negotiating adhesion contracts or employee handbook agreements, and when they do arise, the question of whether an agreement can be invalidated because of its cost implications must be answered ...


In Search Of A Unique Identity: The L3c As A Socially Recognized Brand, Tanya M. Marcum, Eden S. Blair Jan 2012

In Search Of A Unique Identity: The L3c As A Socially Recognized Brand, Tanya M. Marcum, Eden S. Blair

Transactions: The Tennessee Journal of Business Law

The driving force for the decision to organize a new business venture as a limited liability company (“LLC”) is typically the desire to achieve favorable pass-through income tax treatment, while simultaneously enjoying the protection of limited liability for its owners. As noted by one court, “[t]he allure of the limited liability company is its unique ability to bring together in a single business organization the best features of all other business forms—properly structured, its owners obtain both a corporate-style liability shield and the pass-through tax benefits of a partnership.”

During the twenty-year period between 1977 and 1997, the ...


Change We Can Believe In: Comparative Perspectives On The Criminalization Of Corporate Negligence, David Kerem Jan 2012

Change We Can Believe In: Comparative Perspectives On The Criminalization Of Corporate Negligence, David Kerem

Transactions: The Tennessee Journal of Business Law

This paper comparatively explores the wisdom of America’s enforcement of federal corporate laws through the disproportionate assignment of criminal penalties at the entity-level. Although federal criminal statutes have long been enforced against individual violators, the vigor with which they are applied pales in comparison to the frequency of entity-level enforcement. This state of affairs has been undoubtedly spurred by the elevated state of mind requirements appended to federal securities statutes, the considerable difficulty of proving individual criminal intent within a fragmented corporate structure, and the availability of entity-level liability doctrine to prosecutors. This has resulted in countless individual violators ...


Case Commentaries Jan 2012

Case Commentaries

Transactions: The Tennessee Journal of Business Law

No abstract provided.


Business Faculty Notes Jan 2012

Business Faculty Notes

Transactions: The Tennessee Journal of Business Law

No abstract provided.