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Mandatory Arbitration In Consumer Finance And Investor Contracts, Michael S. Barr Jan 2017

Mandatory Arbitration In Consumer Finance And Investor Contracts, Michael S. Barr

Book Chapters

This chapter focuses on the use of mandatory pre-dispute arbitration clauses in a subset of consumer contracts – those involving consumer finance and investor products and services. Arbitration clauses are pervasive in financial contracts – for credit cards, bank accounts, auto loans, broker-dealer services, and many others. In the wake of the recent financial crisis, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank). Dodd-Frank authorises the new Consumer Financial Protection Bureau (CFPB) and the Securities and Exchange Commission (SEC) to prohibit or condition the use of arbitration clauses in consumer finance and investment contracts, …


Boilerplate And Economic Power In Auto-Manufacturing Contracts, Omri Ben-Shahar, James J. White Jan 2007

Boilerplate And Economic Power In Auto-Manufacturing Contracts, Omri Ben-Shahar, James J. White

Book Chapters

This chapter examines the boilerplate contracts used by auto makers to procure parts from suppliers. It identifies drafting and negotiation techniques that are used to secure advantageous terms. It also explores some prominent specific arrangements as evidence that firms with bargaining power are exploiting their position to dictate self-serving but inefficient terms. Finally, it shows how standard contractual clauses solve the problem of ex-post hold-up by suppliers.


Preface: Or: A Boilerplate Introduction, Omri Ben-Shahar Jan 2007

Preface: Or: A Boilerplate Introduction, Omri Ben-Shahar

Book Chapters

It is tempting to open this volume with yet another "boilerplate" salute to the challenge that standard-form contracts pose for contract law doctrine. You may have seen many tributes to this fundamental problem. Ifi were to offer my own variation on this familiar introduction, I would have perhaps tried to come up with an original spin to induce you to read forward another paragraph or two. I would probably have talked about a major divide within contract law between the "law of negotiations" and "product regulation." The former is the body of doctrines that determine the legal consequences of bargaining …


Presidential Address: Contract Reading Revisited, Theodore J. St. Antoine Jan 2000

Presidential Address: Contract Reading Revisited, Theodore J. St. Antoine

Book Chapters

A quarter century ago, in a presentation at the Academy’s annual meeting, I used the phrase “contract reader” to characterize the role an arbitrator plays in construing a collective bargaining agreement. That two-word phrase may be the only thing I ever said before this body which has been remembered. Unfortunately, it is almost invariably misunderstood. Time and again members have reproached me: “What’s the big deal about contract reading, anyway? Isn’t it just the same as contract interpretation?” Or, more substantively scathing: “Do you really think, Ted, that all you have to do to interpret a labor agreement is to …


Gas Sale Contracts Under The Uniform Commercial Code, James J. White Jan 1996

Gas Sale Contracts Under The Uniform Commercial Code, James J. White

Book Chapters

In the last decade, many oil and gas lawyers have learned more than they wish to know about the Uniform Commercial Code (U.C.C.). Like it or not, Article 2 of the U.C.C. governs most contracts for the sale of natural gas. Section 2-107(1) draws a distinct line between leases, deeds, and other conveyances of minerals in place, on the one hand, and the sale of the minerals by the miner or producer after the minerals have been severed, on the other. The consequence of this rule is that Article 2 has little or nothing to say about the sale of …


Drafting The Dispute Resolution Clause, Whitmore Gray Jan 1991

Drafting The Dispute Resolution Clause, Whitmore Gray

Book Chapters

Providing in a contract for ways to resolve disputes that may arise presents a substantial challenge to the lawyer. In one sense, this is what a lawyer regularly does in contract drafting-anticipating misunderstandings or problems that experience has indicated are likely to arise, and trying to provide clear solutions in advance. When it comes to drafting a specific clause for the resolution of further disputes that may arise, however, many lawyers are at a substantial disadvantage. The task comes at the end of the substantive negotiations. The client does not want to focus on, or draw the other party's attention …


Practical Pitfalls In Handling Scientific Evidence, John W. Reed Jan 1975

Practical Pitfalls In Handling Scientific Evidence, John W. Reed

Book Chapters

In this article we are concerned with the techniques of what is more often an art than a science. Before going into the specifics, it is useful to take a look at scientific evidence in general-where it stands in relationship to other kinds of evidence, on what theory or theories it is admitted, and how to maximize its effect when it is admitted.


Impossibility, Impracticability, And Supervening Illegality, James J. White Jan 1974

Impossibility, Impracticability, And Supervening Illegality, James J. White

Book Chapters

The Doctrine of Impossibility, or as the Uniform Commercial Code knows it, Excuse by Failure of Presupposed Conditions, remains one of the unclimbed peaks of contract doctrine. All of the famous early and mid-twentieth century mountaineers, Corbin, Williston, Farnsworth and many lesser men have made attempts on this doctrine, but none have succeeded in climbing it to the very top. The doctrine inheres in Section 2-615 of the UCC, in Sections 454 - 469 of the Restatement of Contracts and in a series of Anglo-American cases stretching back for many years. In spite of attempts by all of the contract …


Contract Clauses, James J. White Jan 1974

Contract Clauses, James J. White

Book Chapters

Before he turns to the clauses below, the draftsman should consider a few points that apply to drafting in general. The suggestions that follow will not win the Galileo award for 1974, but they bear repeating nevertheless.


Principal And Agent, Edwin C. Goddard, Louis Lougee Hammon Jan 1909

Principal And Agent, Edwin C. Goddard, Louis Lougee Hammon

Book Chapters

Prof. Goddard's 500-page entry under the subject, co-authored with Louis L. Hammon. Preceded by a 15-page outline.