Open Access. Powered by Scholars. Published by Universities.®
- Keyword
- Publication Type
Articles 1 - 3 of 3
Full-Text Articles in Law
Organizational Law As Commitment Device, Morgan Ricks
Organizational Law As Commitment Device, Morgan Ricks
Vanderbilt Law Review
What is the essential role of the law of enterprise organization? The dominant view among business law scholars today is that organizational lawthe law of partnerships, corporations, private trusts, and their variants-serves primarily to structure relations between business owners, on the one hand, and business creditors, on the other. Under this "asset partitioning" theory, organizational law's main purpose is to shield business assets from claims of creditors of the business's owners, thereby giving business creditors a structurally senior claim on business assets. By relieving business creditors of the need to inspect the creditworthiness of business owners, the theory goes, organizational …
Aging Injunctions And The Legacy Of Institutional Reform Litigation, Jason Parkin
Aging Injunctions And The Legacy Of Institutional Reform Litigation, Jason Parkin
Vanderbilt Law Review
Institutional reform litigation has been an enduring feature of the American legal system since the Supreme Court's ruling in Brown v. Board of Education. The resulting injunctions have transformed countless bureaucracies notorious for resisting change, including public school systems, housing authorities, social services agencies, correctional facilities, and police departments. But these injunctions face an uncertain future. The Supreme Court has held that institutional reform injunctions must be easier to terminate than all other injunctions issued by the federal courts. Some institutional reform injunctions go unenforced or are forgotten entirely. Others expire due to sunset provisions. At the same time, doctrinal …
Organizational Law As Commitment Device, Morgan Ricks
Organizational Law As Commitment Device, Morgan Ricks
Vanderbilt Law School Faculty Publications
What is the essential role of the law of enterprise organization? The dominant view among business law scholars today is that organizational law the law of partnerships, corporations, private trusts, and their variants-serves primarily to structure relations between business owners, on the one hand, and business creditors, on the other. Under this "asset partitioning" theory, organizational law's main purpose is to shield business assets from claims of creditors of the business's owners, thereby giving business creditors a structurally senior claim on business assets. By relieving business creditors of the need to inspect the creditworthiness of business owners, the theory goes, …