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Copyright And Parody: Touring The Certainties Of Property And Restitution, Wendy J. Gordon
Copyright And Parody: Touring The Certainties Of Property And Restitution, Wendy J. Gordon
Faculty Scholarship
One of the supposed certainties of the common law is that persons need not pay for benefits they receive except when they have agreed in advance to make payment. The rule takes many forms. One of the most familiar is the doctrine that absent a contractual obligation, a person benefited by a volunteer ordinarily need not pay for what he has received. This rule supposedly both encourages economic efficiency and respects autonomy.
Agreements To Waive Or To Arbitrate Legal Claims: An Economic Analysis, Keith N. Hylton
Agreements To Waive Or To Arbitrate Legal Claims: An Economic Analysis, Keith N. Hylton
Faculty Scholarship
As arbitration agreements have grown in use, they have become controversial, with many critics describing them as a disguised form of waiver. This paper presents an economic analysis of waiver and arbitiation agreements and applies this analysis to the evolving arbitration case law in the Supreme Court and elsewhere. The paper examines the conditions under which parties have an incentive to enter into these types of agreement, and their welfare implications. It shows that, if parties are well informed, they will enter into waiver agreements when and only when litigation is socially undesirable, in the sense that the deterrence benefits …