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Full-Text Articles in Law
Indemnification And Advancement Through An Agency Lens, Deborah A. Demott
Indemnification And Advancement Through An Agency Lens, Deborah A. Demott
Law and Contemporary Problems
DeMott discusses the doctrines that define entitlements to indemnification. In the corporate context, indemnification is better grounded, as in the Model Business Corporation Act (MBCA), in the necessity of furnishing corporate directors with appropriate protection against personal risk. To be sure, as the MBCA's official comments implicitly acknowledge, the position of officers, especially senior executive officers, does not fit neatly and exclusively into either an "agent" or a "non-agent" category for indemnification purposes.
The Globalization Of Health And Safety Standards: Delegation Of Regulatory Authority In The Sps Agreement Of The 1994 Agreement Establishing The World Trade Organization, Tim Buthe
Law and Contemporary Problems
Buthe examines why states delegated regulatory authority in the Agreement on the Application of Sanitary and Phytosanitary (SPS) Measures, an integral part of the founding treaty of the World Trade Organization (WTO). Buthe argues that, to explain this case of international delegation, principal-agent theory must be complemented by an analysis of cost-benefit calculations of the relevant domestic interest groups. Given these domestic interests, governments decided to institutionalize international cooperation on SPS measures outside of the WTO because they believed that such delegation would minimize the political costs of the loss of policymaking autonomy. Buthe notes, however, that in retrospect it …
Agency By Analogy: A Comment On Odious Debt, Deborah A. Demott
Agency By Analogy: A Comment On Odious Debt, Deborah A. Demott
Law and Contemporary Problems
DeMott focuses on how one might think about the phenomenon of odious debt from the standpoint of common-law agency. Though this analogy has its flaws, some useful insights can be gathered by examining the similarities and differences between the two doctrines, especially when contemplating the theory of liability in the sovereign context. To illustrate the complexity of comparing odious debt to agency law, she develops a series of comparisons between the consequences of borrowing by a sovereign and that by a private corporation afflicted with inept or corrupt management.
Rupa And Former Partners: Cutting The Gordian Knot With Continuing Partnership Entities, Robert W. Hillman
Rupa And Former Partners: Cutting The Gordian Knot With Continuing Partnership Entities, Robert W. Hillman
Law and Contemporary Problems
Passage of the Revised Uniform Partnership Act (RUPA) brought change in the treatment of partnerships as entities rather than aggregates of their members. The nature of the Gordian knot that binds individuals associated in partnership and the lingering ties between individuals formerly associated in partnership are examined, and the hidden costs of continuity that RUPA imposes on withdrawing partners are evaluated.
Linking Statutory Forms, Larry E. Ribstein
Linking Statutory Forms, Larry E. Ribstein
Law and Contemporary Problems
Business association statutes may be "linked" in that rules from one statute are applied to a business form created under another statute; for example, the Uniform Partnership Act, the Uniform Limited Partnership Act and the Revised Uniform Limited Partnership Act provide that general partnership provisions apply to limited partnerships. An evaluation of this linkage is presented.
Fiduciary Duties And Rupa: An Inquiry Into Freedom Of Contract, J. Dennis Hynes
Fiduciary Duties And Rupa: An Inquiry Into Freedom Of Contract, J. Dennis Hynes
Law and Contemporary Problems
The Revised Uniform Partnership Act of 1994 (RUPA) section 404 establishes a comprehensive definition of partnership fiduciary duties and includes an express recognition of the unique position of a partner. The approach taken by RUPA endorses too great an invasion of the principle of freedom of contract among partners, and a change in the language of RUPA is proposed with the goal of expanding freedom of contract without abandoning the requirement of good faith.
Love It Or Leave It: Property Rules, Liability Rules, And Exclusivity Of Remedies In Partnership And Marriage, Saul Levmore
Love It Or Leave It: Property Rules, Liability Rules, And Exclusivity Of Remedies In Partnership And Marriage, Saul Levmore
Law and Contemporary Problems
A claim for "final accounting" as a partner's exclusive remedy is a traditional rule in partnership law, but this rule can be unfair and inefficient. The evolution of the rules of partnership law away from the love-it-or-leave-it, or "exclusivity," tradition is discussed, and traditional partnership law is compared to domestic relations and to corporate law.
Our Partners’ Keepers? Agency Dimensions Of Partnership Relationships, Deborah A. Demott
Our Partners’ Keepers? Agency Dimensions Of Partnership Relationships, Deborah A. Demott
Law and Contemporary Problems
Many distinctive consequences of the relationship among partners stem from applicable norms of agency law, but basic agency norms applicable to incorporated businesses are fundamentally different. Agency doctrines that are distinctive to the partnership context are examined, and their consequences and rationales are explored.
Advancing The Search For Compromise: A Response To Professor Hynes, Allan W. Vestal
Advancing The Search For Compromise: A Response To Professor Hynes, Allan W. Vestal
Law and Contemporary Problems
The contractarian and fiduciary-based positions of the Revised Uniform Partnership Act (RUPA) and the observation that RUPA is internally contradictory and does not consistently adopt either position are discussed. Professor Hynes' discussion of the waivability of fiduciary duties under RUPA is critiqued.
Rupa And Fiduciary Duty: The Texture Of Relationship, Donald J. Weidner
Rupa And Fiduciary Duty: The Texture Of Relationship, Donald J. Weidner
Law and Contemporary Problems
The fiduciary duty rules in the Revised Uniform Partnership Act of 1994 (RUPA) are discussed. RUPA represents a major and sufficient move toward a contractarian statement of the law.