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Full-Text Articles in Law
Realising The Promise Of Costs Budgets: An Economic Analysis, Jay Tidmarsh
Realising The Promise Of Costs Budgets: An Economic Analysis, Jay Tidmarsh
Journal Articles
The costs-budget system implemented in the Jackson reforms promises to keep litigation costs within socially appropriate bounds. To realise this promise fully however; the goal of this reform must be reoriented. Using real-options analysis, this article demonstrates that costs budgeting in its present form often fails to achieve a reduction of litigation costs to the socially appropriate level–defined to be the point at which the social benefits of litigation exceeds its costs–because parties may have a private incentive to invest socially excessive amounts on litigation. This result is true under both the English ("loser pays") and the American ("bear your …
The Constitutionality Of An Executive Spending Plan, Paul E. Salamanca
The Constitutionality Of An Executive Spending Plan, Paul E. Salamanca
Law Faculty Scholarly Articles
Operation of government in the absence of appropriations has become relatively common in the United States, particularly when projected expenses exceed projected revenue, making adoption of a budget a difficult task for the legislature. This Article focuses on the budget crisis in the Commonwealth of Kentucky from 2002 through 2003. In Part I, this Article recapitulates the history of the spending plan, including the action filed in Franklin Circuit Court to affirm its constitutionality. In Part II, this Article discusses certain theoretical, historical, and legal principles that inform analysis of the plan. In Part III, it considers certain deviations and …