Law Commons^™

Decentralized Autonomous Organizations: To Statutorily Organize Or Not?, David M. Grant, Eric M. Kirby, Steven Hawkins

Wyoming Law Review

This Article explores the evolving concept of decentralized autonomous organizations (DAOs) in the context of Web3 technology. It raises critical questions about whether DAOs truly represent a step forward in limiting liability in entity governance structures or if they risk centralizing the decentralized. The text discusses the potential of DAOs to address regulatory and tax challenges while also highlighting concerns about their legitimacy and security. It compares the governance structures of traditional entities to DAOs and contemplates the reasons for formal organization pursuant to state statute. The Article further delves into some of the statutory laws in specific states recognizing …

The Problem Of Extravagant Inferences, Cass Sunstein

Georgia Law Review

Judges and lawyers sometimes act as if a constitutional or statutory term must, as a matter of semantics, be understood to have a particular meaning, when it could easily be understood to have another meaning, or several other meanings. When judges and lawyers act as if a legal term has a unique semantic meaning, even though it does not, they should be seen to be drawing extravagant inferences. Some constitutional provisions are treated this way; consider the idea that the vesting of executive power in a President of the United States necessarily includes the power to remove, at will, a …

Wanted: A Prudential Framework For Crypto Assets, Lee Reiners, Sangita Gazi

Arkansas Law Review

This Article summarizes the limited publicly available data on banks’ exposure to crypto assets and offers several specific examples of how U.S. banks engage in crypto-related businesses. It then examines past guidance issued by U.S. bank regulators and explains why this guidance lacks sufficient detail to clarify the prudential requirements associated with the various crypto-related activities in which banks are engaged. The Article then assesses the adequacy of the Basel Committee on Banking Supervision’s final prudential standard for crypto-asset exposures, issued in December 2022, and finds that the measure fails to adequately address the unique risks various crypto-asset activities pose …

Just Because They Say It: Does The U.S. Really Have The “First-Ever Comprehensive Framework” For Digital Assets?, Carol R. Goforth

Arkansas Law Review

On March 9, 2022, President Biden made history by signing an Executive Order on Ensuring Responsible Development of Digital Assets. On September 16, 2022, the White House released a fact sheet proclaiming that it had produced the “First Ever Comprehensive Framework for Responsible Development of Digital Assets,” based on nine reports stemming from the Executive Order. This Article is divided into two main parts. Part one reviews the reports received by the White House, explaining what they address while pointing out open issues for which no particular direction is established. Part two assesses regulatory gaps in the crypto space in …

Keynote Address By Cftc Commissioner Kristin Johnson, Kristin N. Johnson

Arkansas Law Review

Today, our markets are witnessing a transformative moment marked by exceptional, rapidly evolving innovation. To better understand this transformation, we might inquire about the nature of these novel financial instruments, intermediaries, and the underlying technologies that fuel an ever-expanding adoption. Thinking critically about these issues may inform our understanding of the intermediaries or lack thereof, and financial products that characterize this moment in the history and evolution of financial markets.

Cracking Down On Egg Law: Legal Discrepancies Impacting Sales Of Ungraded Eggs In Texas, Parker Benton

St. Mary's Law Journal

No abstract provided.

The Right To Procreate By Nontraditional Methods, Elizabeth Kreager

St. Mary's Law Journal

No abstract provided.

Data Is What Data Does: Regulating Based On Harm And Risk Instead Of Sensitive Data, Daniel J. Solove

Northwestern University Law Review

Heightened protection for sensitive data is becoming quite trendy in privacy laws around the world. Originating in European Union (EU) data protection law and included in the EU’s General Data Protection Regulation, sensitive data singles out certain categories of personal data for extra protection. Commonly recognized special categories of sensitive data include racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, health, sexual orientation and sex life, and biometric and genetic data.

Although heightened protection for sensitive data appropriately recognizes that not all situations involving personal data should be protected uniformly, the sensitive data approach is …

Respect My Authority: The Past, Present, And Future Of The Public Authority, Tom J. Letourneau

Ocean and Coastal Law Journal

This comment synthesizes various historical aspects of motor vehicle infrastructure in the United States. The network of issues at play involves centuries of public policy decisions made at the local, state, and federal level, which twentieth century legal innovations hastened and curdled into the car culture we are all a part of today. The public authority is the paradigm of these legal innovations, but it has outlived its usefulness in the face climate change and burgeoning issues relating to urbanism.

30 Years Removed, Oil-Spill Liability Insurance's Evolution Since The 1989 Exxon Valdez Incident, Rejo Mathew

Ocean and Coastal Law Journal

In the thirty years since the Exxon Valdez incident, much has changed. This article looks back at the events of the accident and the subsequent changes to the marine pollution insurance industry, from the statutes regulating oil tankers in 1989 to the Oil Pollution Act of the 1990. The regulatory framework resulting from the Exxon Valdez is examined and compared to the litigation deriving from the spill.

It's A Soft Shell Life For Me: The Case For Expanding Npdes Permitting To Include Causes Of Ocean Acidification, Natalie L. Nowatzke

Ocean and Coastal Law Journal

Ocean acidification, a lesser-known counterpart to climate change, is primarily caused by the ocean’s absorption of carbon dioxide from the atmosphere. This absorption, in turn, reduces the ocean’s pH, and has detrimental effects on the health of the entire ecosystem. This Comment examines the applicability of the “functional equivalent test,” coined by the Supreme Court in County of Maui v. Hawaii Wildlife Fund, to the causes of ocean acidification. Using this test, this Comment proposes expanding NPDES permitting under the Clean Water Act to cover some landbased sources emitting carbon dioxide.

Fishing Communities And Public Participation In Federal Decisionmaking: A Case Study Of Community Opposition To The Mid-Barataria Sediment Diversion Project, Stephanie Showalter Otts

Ocean and Coastal Law Journal

In debates surrounding coastal restoration projects, the word “community” is heard frequently. Coastal restoration projects have the potential to affect a wide range of communities, both those which are place-based as well as communities of practice that are not geographically bound. However, the lack of a single, accepted definition of community can lead to faulty assumptions about who is being represented in policy debates which can undermine efforts to build consensus and support for coastal restoration efforts. This Article presents a case study of community conflicts and public participation surrounding a large, controversial coastal restoration project in Louisiana—the Mid-Barataria Sediment …

The Cruel And Unusual Punishment Of Prison Rape: Why The Prison Rape Elimination Act Failed And How To Fix It, Savannah G. Plaisted

University of Massachusetts Law Review

Recent studies show the rate of sexual abuse endured in prisons has been steadily increasing. To remedy this issue, the Prison Rape Elimination Act was passed in 2003, however it has had no legitimate impact on the rate of sexual abuse in prisons due to the absence of mandatory rules upon prisons and a private right of action. This note will argue that prison rape is an Eighth Amendment violation but is not punished as one and that the Prison Rape Elimination Act failed to provide Survivors of prison sexual abuse with any legitimate recourse against violators of the law. …

Cover Page, Masthead, And Table Of Contents

Journal of Legislation

No abstract provided.

Volume 50, Issue I - Full Combined Issue

Journal of Legislation

No abstract provided.

Controlling Moral Hazard In Limited Liability With The Consumer Sales Practices Act, Nathaniel Vargas Gallegos

Journal of Legislation

The few states that have passed the Model Consumer Sales Practices Act have common definitions and case law regarding the definition of a “supplier.” This definition is broad enough to include managers of companies in limited liability entities in the states that have adopted the model act. The practicality is that business principals, owners, and managers can be held personally liable for deceptive practices under the state acts. But this is not a piercing of the corporate veil or of the limited-liability company. This Article is meant to accomplish four purposes: (1) exhibit the origins of the act, (2) show …

Re-Imagining The Post-9/11 Authorizations For Use Of Military Force In The Era Of Emerging Consensus On Reform, Peter J. Amato

Journal of Legislation

No abstract provided.

A Comparative Analysis Of Domestic And International Legislation On Combating International Bribery And Corruption, Jose W. Alvarez

American University International Law Review

This composition compares and contrasts the legislation used in addressing and preventing transnational bribery and corruption at the domestic, regional, and international level. Using the history and current application of the United States Foreign Corrupt Practices Act as a foundation, this composition analyzes the legislation of fifteen nations, two international organizations, and three regional bodies, and their approaches in combating the growing issue of transnational bribery and corruption. This composition analyzes and interprets the common themes, historical and contemporary patterns, as well as trends at each government level, and potential future courses of action. The denouement of this work seeks …

Pay Differences In The Absence Of Discrimination: Legislative Fallacies And Statistical Truths, Allan G. King, Stephen G. Bronars

Journal of Legislation

No abstract provided.

Privacy Purgatory: Why The United States Needs A Comprehensive Federal Data Privacy Law, Emily Stackhouse Taetzsch

Journal of Legislation

No abstract provided.

A Model State Compensation Law For The Wrongfully Convicted, Jacqueline Kamel

Journal of Legislation

No abstract provided.

Have Some Heart For The Heartland: A Call For A Federal Right To Repair Law, Gabriel Dominic Gomez

Journal of Legislation

No abstract provided.

There’S A Law For That: Examining The Need For Personal Finance Education Legislation And Its Impact On Retirement In A Post Covid-19 World, Natalie M. Poirier

Journal of Legislation

No abstract provided.

Stakeholder Capitalism’S Greatest Challenge: Reshaping A Public Consensus To Govern A Global Economy, Leo E. Strine Jr., Michael Klain

Seattle University Law Review

The Berle XIV: Developing a 21st Century Corporate Governance Model Conference asks whether there is a viable 21st Century Stakeholder Governance model. In our conference keynote article, we argue that to answer that question yes requires restoring—to use Berle’s term—a “public consensus” throughout the global economy in favor of the balanced model of New Deal capitalism, within which corporations could operate in a way good for all their stakeholders and society, that Berle himself supported.

The world now faces problems caused in large part by the enormous international power of corporations and the institutional investors who dominate their governance. These …

Delegated Corporate Voting And The Deliberative Franchise, Sarah C. Haan

Seattle University Law Review

Starting in the 1930s with the earliest version of the proxy rules, the Securities and Exchange Commission (SEC) has gradually increased the proportion of “instructed” votes on the shareholder’s proxy card until, for the first time in 2022, it required a fully instructed proxy card. This evolution effectively shifted the exercise of the shareholder’s vote from the shareholders’ meeting to the vote delegation that occurs when the share-holder fills out the proxy card. The point in the electoral process when the binding voting choice is communicated is now the execution of the proxy card (assuming the shareholder completes the card …

Corporate Law In The Global South: Heterodox Stakeholderism, Mariana Pargendler

Seattle University Law Review

How do the corporate laws of Global South jurisdictions differ from their Global North counterparts? Prevailing stereotypes depict the corporate laws of developing countries as either antiquated or plagued by problems of enforcement and misfit despite formal convergence. This Article offers a different view by showing how Global South jurisdictions have pioneered heterodox stakeholder approaches in corporate law, such as the erosion of limited liability for purposes of stakeholder protection in Brazil and India, the adoption of mandatory corporate social responsibility in Indonesia and India, and the large-scale program of Black corporate ownership and empowerment in South Africa, among many …

A Different Approach To Agency Theory And Implications For Esg, Jonathan Bonham, Amoray Riggs-Cragun

Seattle University Law Review

In conventional agency theory, the agent is modeled as exerting unobservable “effort” that influences the distribution over outcomes the principal cares about. Recent papers instead allow the agent to choose the entire distribution, an assumption that better describes the extensive and flexible control that CEOs have over firm outcomes. Under this assumption, the optimal contract rewards the agent directly for outcomes the principal cares about, rather than for what those outcomes reveal about the agent’s effort. This article briefly summarizes this new agency model and discusses its implications for contracting on ESG activities.

The Esg Information System, Stavros Gadinis, Amelia Miazad

Seattle University Law Review

The mounting focus on ESG has forced internal corporate decision-making into the spotlight. Investors are eager to support companies in innovative “green” technologies and scrutinize companies’ transition plans. Activists are targeting boards whose decisions appear too timid or insufficiently explained. Consumers and employees are incorporating companies sustainability credentials in their purchasing and employment decisions. These actors are asking companies for better information, higher quality reports, and granular data. In response, companies are producing lengthy sustainability reports, adopting ambitious purpose statements, and touting their sustainability credentials. Understandably, concerns about greenwashing and accountability abound, and policymakers are preparing for action.

In this …

Stakeholder Governance On The Ground (And In The Sky), Stephen Johnson, Frank Partnoy

Seattle University Law Review

Professor Frank Partnoy: This is a marvelous gathering, and it is all due to Chuck O’Kelley and the special gentleness, openness, and creativity that he brings to this symposium. For more than a decade, he has been open to new and creative ways to discuss important issues surrounding business law and Adolf Berle’s legacy. We also are grateful to Dorothy Lund for co-organizing this gathering.

In introducing Stephen Johnson, I am reminded of a previous Berle, where Chuck allowed me some time to present the initial thoughts that led to my book, WAIT: The Art and Science of Delay. Part …

Table Of Contents, Seattle University Law Review

Seattle University Law Review

Table of Contents