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Auction Rate Securities: Mechanics And Turmoil, Sachin Raval
Auction Rate Securities: Mechanics And Turmoil, Sachin Raval
Sachin R Raval
This study's objective was to understand the origins, mechanics and recent turmoil of the Auction Rate Securities market. Prior to the 2008 collapse, the ARS market had a successful 20-year history. Many investors believed that auction rate securities were cash equivalents with above market yields. Unfortunately, due to the credit crunch, these securities became illiquid, as no buyers were willing to take existing holders' positions. Furthermore, the clearing rate or interest rate of these securities is set through a Dutch auction. In 2006, the SEC conducted a probe of the ARS market. This probe revealed that broker/dealers prevented failed auctions …
Fairness In Contractual Relations: An Economic-Oriented Understanding Of Good Faith Performance, Luigi Russi
Fairness In Contractual Relations: An Economic-Oriented Understanding Of Good Faith Performance, Luigi Russi
Luigi Russi
This is a derivative version of 'Can Good Faith Performance Be Unfair? An Economic Framework for Understanding the Problem', which appeared in the Whittier Law Review, vol. 29, 2008. In comparison to the version therein published, I have eliminated the mathematical appendix, and attempted to outline my reasoning exclusively in words, for it to be accessible to a wider readership.
Can Good Faith Performance Be Unfair? An Economic Framework For Understanding The Problem, Luigi Russi
Can Good Faith Performance Be Unfair? An Economic Framework For Understanding The Problem, Luigi Russi
Luigi Russi
The paper deals with the duty of good faith in contract performance, as set out in the U.C.C. In particular, it focuses on the different theories as to its practical meaning, by distinguishing between two types of standards: behavioral and economic ones. The latter are further framed after the Learned Hand formula of negligence, as adapted to contractual relationships by relevant literature. By analyzing the functioning of economic standards in presence of transaction costs, it is then concluded that economic standards are only weakly preferable to behavioral ones which, under certain conditions, may prove as useful in providing a practical …
Cyberspace Law Survey: Introduction, Juliet Moringiello, Michael Fleming
Cyberspace Law Survey: Introduction, Juliet Moringiello, Michael Fleming
Juliet M Moringiello
No abstract provided.