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Articles 31 - 60 of 257
Full-Text Articles in Law
Tepoel Lecture: Bond Trustees And The Rising Challenge Of Activist Investors, Steven L. Schwarcz
Tepoel Lecture: Bond Trustees And The Rising Challenge Of Activist Investors, Steven L. Schwarcz
Faculty Scholarship
No abstract provided.
The Life Of Administrative Democracy, Joshua Galperin
The Life Of Administrative Democracy, Joshua Galperin
Articles
Imagine if Congress, the President, and the industries they hoped to regulate all decided that neither politically isolated bureaucrats nor a popularly sanctioned President should wield the power to administer Congress’ laws, to make legislative-type policy, to enforce that policy, and to adjudicate disputes under it. Imagine if there were another experiment, one that has persisted, but few have noticed.
Imagine no longer. Overlooked by most, there is a model for federal administration that does not rely on isolated administrators or Presidential control, but instead on elected bureaucrats. Today, the United States Department of Agriculture houses over 7,500 elected farmer-bureaucrats …
Does The National Forest Service Have Authority To Grant Rights-Of-Way Under The Mineral Leasing Act Through National Forest Lands Traversed By The Appalachian Trails, Robert Abrams
Journal Publications
Atlantic Coast Pipeline, LLC, proposed construction of a natural gas pipeline stretching from West Virginia to North Carolina. The route approved by the Federal Energy Regulatory Commission included a section running across National Forest System land, including the point at which the pipeline would cross the Appalachian National Scenic Trail (ANST). After initial objections, the U.S. Forest Service reversed course and issued the needed right-of-way across National Forest System lands. Environmental groups objected and a three-judge panel of the U.S. Court of Appeals for the Fourth Circuit unanimously held that the Forest Service had acted arbitrarily and capriciously thereby violating …
The 1969 Tax Reform Act And Charities: Fifty Years Later, Philip Hackney
The 1969 Tax Reform Act And Charities: Fifty Years Later, Philip Hackney
Articles
Fifty years ago, Congress enacted the Tax Reform Act of 1969 to regulate charitable activity of the rich. Congress constricted the influence of the wealthy on private foundations and hindered the abuse of dollars put into charitable solution through income tax rules. Concerned that the likes of the Mellons, the Rockefellers, and the Fords were putting substantial wealth into foundations for huge tax breaks while continuing to control those funds for their own private ends, Congress revamped the tax rules to force charitable foundations created and controlled by the wealthy to pay out charitable dollars annually and avoid self-dealing. Today, …
The Law And Practice Of Shareholder Inspection Rights: A Comparative Analysis Of China And The United States, Randall S. Thomas, Robin Hui Huang
The Law And Practice Of Shareholder Inspection Rights: A Comparative Analysis Of China And The United States, Randall S. Thomas, Robin Hui Huang
Vanderbilt Law School Faculty Publications
Shareholder inspection rights allow a shareholder to access the relevant documents of the company in which they hold an interest, so as to address the problem of information asymmetry and reduce the agency costs inherent in the corporate structure. While Chinese corporate governance and American corporate governance face different sets of agency cost problems, this Article shows that shareholder inspection rights play an important role in both China and the United States. On the books, while shareholder inspection rights in both countries are broadly similar, there are some important differences on issues such as the proper purpose requirement. The empirical …
The Reverse Agency Problem In The Age Of Compliance, Asaf Eckstein, Gideon Parchomovsky
The Reverse Agency Problem In The Age Of Compliance, Asaf Eckstein, Gideon Parchomovsky
All Faculty Scholarship
The agency problem, the idea that corporate directors and officers are motivated to prioritize their self-interest over the interest of their corporation, has had long-lasting impact on corporate law theory and practice. In recent years, however, as federal agencies have stepped up enforcement efforts against corporations, a new problem that is the mirror image of the agency problem has surfaced—the reverse agency problem. The surge in criminal investigations against corporations, combined with the rising popularity of settlement mechanisms including Pretrial Diversion Agreements (PDAs), and corporate plea agreements, has led corporations to sacrifice directors and officers in order to reach settlements …
Indecency Regulation Of The Fcc And Censorship Law In Republic Korea: Comparison And Contrasts, Min-Soo "Minee" Roh
Indecency Regulation Of The Fcc And Censorship Law In Republic Korea: Comparison And Contrasts, Min-Soo "Minee" Roh
Upper Level Writing Requirement Research Papers
Regulating music on radio or television is not a straightforward process, as the music is comprised of lyrics of words. On top of the lyrics, any music performance has an additional layer of choreography and dress code. If any individual elements or combined elements is obscene or indecent, the government attempts to regulate broadcasting both music and performance. This leads to regulating general speech on communications and it requires this paper to look into regulation of broadcasting in general and specific examples of music broadcasting regulation on radio and television, particularly, in the United States (“States”) and in Republic of …
Fiduciary Constitutionalism: Implications For Self-Pardons And Non-Delegation, Ethan J. Lieb, Jed Handelsman Shugerman
Fiduciary Constitutionalism: Implications For Self-Pardons And Non-Delegation, Ethan J. Lieb, Jed Handelsman Shugerman
Faculty Scholarship
The idea that public servants hold their offices in trust for subject-beneficiaries and that a sovereign's exercise of its political power must be constrained by fiduciary standards-like the duties of loyalty and care-is not new. But scholars are collecting more and more evidence that the framers of the U.S. Constitution may have sought to constrain public power in ways that we would today call fiduciary. In this article, we explore some important legal conclusions that follow from fiduciary constitutionalism.
After developing some historical links between private fiduciary instruments and state and federal constitutions, we opine on what a fiduciary constitution …
Concerns About Ice Detainee Treatment And Care At Four Detention Facilities, John V. Kelly
Concerns About Ice Detainee Treatment And Care At Four Detention Facilities, John V. Kelly
Department of Homeland Security
In response to concerns raised by immigrant rights groups and complaints to the Office of Inspector General (OIG) Hotline about conditions for detainees held in U.S. Immigration and Customs Enforcement (ICE) custody, we conducted unannounced inspections of four detention facilities to evaluate their compliance with ICE detention standards.
Overall, our inspections of four detention facilities revealed violations of ICE’s 2011 Performance-Based National Detention Standards, which set requirements for facilities housing detainees. This report summarizes findings on our latest round of unannounced inspections at four detention facilities housing ICE detainees. Although the conditions varied among the facilities and not every problem …
Management Alert -- Dhs Needs To Address Dangerous Overcrowding Among Single Adults At El Paso Del Norte Processing Center (Redacted), John V. Kelly
Management Alert -- Dhs Needs To Address Dangerous Overcrowding Among Single Adults At El Paso Del Norte Processing Center (Redacted), John V. Kelly
Department of Homeland Security
During the week of May 6, 2019, we visited five Border Patrol stations and two ports of entry in the El Paso area, including greater El Paso and eastern New Mexico, as part of our unannounced spot inspections of CBP holding facilities. We reviewed compliance with CBP’s Transport, Escort, Detention and Search (TEDS) standards, which govern CBP’s interaction with detained individuals, and observed dangerous holding conditions at the El Paso Del Norte Processing Center (PDT) Border Patrol processing facility, located at the Paso Del Norte Bridge, that require immediate attention. Specifically, PDT does not have the capacity to hold the …
Mandatory Disclosure In Primary Markets, Andrew A. Schwartz
Mandatory Disclosure In Primary Markets, Andrew A. Schwartz
Publications
Mandatory disclosure—the idea that companies must be legally required to disclose certain, specified information to public investors—is the first principle of modern securities law. Despite the high costs it imposes, mandatory disclosure has been well defended by legal scholars on two theoretical grounds: ‘Agency costs’ and ‘information underproduction.’ While these two concepts are a good fit for secondary markets (where investors trade securities with one another), this Article shows that they are largely irrelevant in the context of primary markets (where companies offer securities directly to investors). The surprising result is that primary offerings—such as an IPO—may not require mandatory …
The Regulatory Accountability Act Loses Steam But The Trump Executive Order On Alj Selection Upturned 71 Years Of Practice, Jeffrey Lubbers
The Regulatory Accountability Act Loses Steam But The Trump Executive Order On Alj Selection Upturned 71 Years Of Practice, Jeffrey Lubbers
Articles in Law Reviews & Other Academic Journals
No abstract provided.
The Conflicted Advice Problem: A Response To Conflicts & Capital Allocation, Gina-Gail S. Fletcher
The Conflicted Advice Problem: A Response To Conflicts & Capital Allocation, Gina-Gail S. Fletcher
Faculty Scholarship
No abstract provided.
Fiduciary Duties On The Temporal Edges Of Agency Relationships, Deborah A. Demott
Fiduciary Duties On The Temporal Edges Of Agency Relationships, Deborah A. Demott
Faculty Scholarship
The duties that principals and agents owe each other are typically coterminous with the agency relationship itself. But sometimes temporal lines of clean demarcation do less work. The Chapter identifies situations in which an agent may owe duties—including fiduciary duties—to the principal prior to the formal start of their relationship, including any enforceable contract between the parties. Likewise, not all duties that agents and principals owe each other end with the relationship. The Chapter explores the rationales for duties at the temporal peripheries for an agency relationship and the extent to which they are derived from doctrines distinct from agency …
Startup Governance, Elizabeth Pollman
Startup Governance, Elizabeth Pollman
All Faculty Scholarship
Although previously considered rare, over three hundred startups have reached valuations over a billion dollars. Thousands of smaller startups aim to follow in their paths. Despite the enormous social and economic impact of venture-backed startups, their internal governance receives scant scholarly attention. Longstanding theories of corporate ownership and governance do not capture the special features of startups. They can grow large with ownership shared by diverse participants, and they face issues that do not fit the dominant principal-agent paradigm of public corporations or the classic narrative of controlling shareholders in closely held corporations.
This Article offers an original, comprehensive framework …
Corporate Oversight And Disobedience, Elizabeth Pollman
Corporate Oversight And Disobedience, Elizabeth Pollman
All Faculty Scholarship
Over a decade has passed since landmark Delaware corporate law decisions on oversight responsibility, and only a small handful of cases have survived a motion to dismiss. Scholars have puzzled over what it means to have the potential for corporate accountability lodged within the duty of good faith, but almost never brought to fruition in terms of trial liability.
This article explores the public-regarding purpose of the obedience and oversight duties in corporate law and provides a descriptive account of how they are applied in practice. The Article argues that the fidelity to external law required by the duty of …
The Rise Of Fiduciary Law, Tamar Frankel
The Rise Of Fiduciary Law, Tamar Frankel
Faculty Scholarship
The law that defines and regulates fiduciary relationships appears in many legal areas, such as family law, surrogate decision-making, international law, agency law, employment law, pension law, remedies rules, banking law, financial institutions' regulation, corporate law, charities law not for profit organizations law, and the law concerning medical services.
Fiduciary relationships, and the concepts on which they are grounded, appear not only in the law. They appear in other areas of knowledge: economics, psychology; moral norms and pluralism. Fiduciary law has a very long history. It was recognized in Roman law and the British common law and appeared decades ago …
Could Official Climate Denial Revive The Common Law As A Regulatory Backstop?, Mark P. Nevitt, Robert V. Percival
Could Official Climate Denial Revive The Common Law As A Regulatory Backstop?, Mark P. Nevitt, Robert V. Percival
Faculty Articles
This Article makes two core arguments. First, it maintains that the common law of nuisance remains an essential backstop when existing regulatory authorities fail to address significant environmental problems. Second, reconnecting nuisance law to its historical roots, the Article maintains that common law litigation has served as an effective prod to help spur the development and implementation of new pollution control technology and to stimulate regulatory action to require its use, rather than serving as a vehicle for the judiciary to impose its own solutions for environmental problems.
This Article proceeds in four parts. Part I reviews the history of …
The Evolution Of Entrepreneurial Finance: A New Typology, J. Brad Bernthal
The Evolution Of Entrepreneurial Finance: A New Typology, J. Brad Bernthal
Publications
There has been an explosion in new types of startup finance instruments. Whereas twenty years ago preferred stock dominated the field, startup companies and investors now use at least eight different instruments—six of which have only become widely used in the last decade. Legal scholars have yet to reflect upon the proliferation of instrument types in the aggregate. Notably missing is a way to organize instruments into a common framework that highlights their similarities and differences.
This Article makes four contributions. First, it catalogues the variety of startup investment forms. I describe novel instruments, such as revenue-based financing, which remain …
Board Rooms And Jail Cells- Assessing Ngo Approaches To Private Environmental Governance, Joshua Galperin
Board Rooms And Jail Cells- Assessing Ngo Approaches To Private Environmental Governance, Joshua Galperin
Articles
Staff of the Nature Conservancy often find themselves in corporate board rooms. Staff of Greenpeace often find themselves in jail cells. The Nature Conservancy (TNC) prides itself on its non-confrontational, collaborative deal making, partnering closely with corporations like chemical giant Dow and agricultural lightning rod Monsanto. Both Dow and Monsanto, in fact, are members of TNC’s Business Council along with the likes of BP, Shell, and Cargill. Greenpeace, on the other hand, prides itself on direct action, civil disobedience, and non-violent confrontation. Greenpeace has launched combative operations against Dow, Monsanto, and other TNC collaborators. While business partners praise TNC’s cooperative …
Fiduciary Principles In Agency Law, Deborah A. Demott
Fiduciary Principles In Agency Law, Deborah A. Demott
Faculty Scholarship
No abstract provided.
Algorithmic Contracts, Lauren Henry Scholz
Algorithmic Contracts, Lauren Henry Scholz
Scholarly Publications
Algorithmic contracts are contracts in which an algorithm determines a party’s obligations. Some contracts are algorithmic because the parties used algorithms as negotiators before contract formation, choosing which terms to offer or accept. Other contracts are algorithmic because the parties agree that an algorithm to be run at some time after the contract formation will serve as a gap-filler. Such agreements are already common in high speed trading of financial products and will soon spread to other contexts. However, contract law doctrine does not currently have a coherent approach to describing the creation and enforcement of algorithmic contracts. This Article …
Agency And Partnership Law [2016], Pearlie M. C. Koh, Stephen Noel Henry Bull
Agency And Partnership Law [2016], Pearlie M. C. Koh, Stephen Noel Henry Bull
Research Collection Yong Pung How School Of Law
No abstract provided.
Executive Estoppel, Equitable Enforcement, And Exploited Immigrant Workers, Angela D. Morrison
Executive Estoppel, Equitable Enforcement, And Exploited Immigrant Workers, Angela D. Morrison
Faculty Scholarship
Unauthorized workers in abusive workplaces have found themselves in a tug-of-war between federal agencies. On one side are federal prosecutors with the Department of Justice or Immigration and Customs Enforcement--who seek to criminally prosecute or deport the workers and treat the workers as defendants. On the other side are agencies like the U.S. Equal Employment Opportunity Commission, the Department of Labor, and U.S. Citizenship and Immigration Services who have determined the workers are victims of workplace exploitation and deserve protection. This mixed message—protection from one federal agency and prosecution by another—is contrary to Congressional intent and undermines the enforcement of …
Eating Is Not Political Action, Joshua Galperin, Graham Downey, D. Lee Miller
Eating Is Not Political Action, Joshua Galperin, Graham Downey, D. Lee Miller
Articles
Food and environment are cultural stalwarts. Picture the red barn and solitary farmer toiling over fruited plains; or purple mountains majesty reflected in pristine waters. Agriculture and environment are core, distinct, American mythologies that we know are more intertwined than our stories reveal.
To create policy at the interface of such centrally important and overlapping American ideals, there are two options. Passive governance fosters markets in which participants make individual choices that aggregate into inadvertent collective action. In contrast, assertive governance allows the public, mediated through elected officials, to enact intentional, goal oriented policy.
American mythologies of food and environment …
Localist Administrative Law, Nestor M. Davidson
Localist Administrative Law, Nestor M. Davidson
Faculty Scholarship
To read the voluminous literature on administrative law is to inhabit a world focused almost exclusively on federal agencies. This myopic view, however, ignores the wide array of administrative bodies that make and implement policy at the local-government level. The administrative law that emerges from the vast subterranean regulatory state operating within cities, suburbs, towns, and counties has gone largely unexamined. Not only are scholars ignoring a key area of governance, but courts have similarly failed to develop an administrative jurisprudence that recognizes what is distinctive about local agencies. The underlying justifications for core administrative law doctrines at the federal …
Agency Law And The New Economy, Mark J. Loewenstein
Agency Law And The New Economy, Mark J. Loewenstein
Publications
This article considers the status of workers in the "new economy," defined as the sharing economy (e.g., Uber, Lyft) and the on-demand economy. The latter refers to the extensive and growing use of staffing companies by established businesses in many different industries to provide all or a portion of their workforce. Workers in both the sharing economy and the on-demand economy are, generally speaking, at a disadvantage in comparison to traditional employees. Uber drivers, for example, are typically considered independent contractors, not employees, and therefore are not covered under federal and state laws that protect or provide benefits to employees. …
Corporate Officers As Agents, Deborah A. Demott
Corporate Officers As Agents, Deborah A. Demott
Faculty Scholarship
Although officers are crucial to corporate operations, scholarly and theoretical accounts tend to slight officers and amalgamate them with directors into a single category, "managers." This essay anchors officers within the common law of agency-as does black-letter law-which crisply differentiates officers from directors. Understanding that agency is central of the legal account of officers' positions and responsibilities is crucial to seeing why, like directors, officers are fiduciaries, but distinctively so, not as instances of generic "corporate fiduciaries." Officers, like directors, owe duties of loyalty, but also particularized duties of care, competence, and diligence. Additionally, officers' duties of performance encompass two …
Agency And Partnership Law [2015], Pearlie M. C. Koh, Stephen Noel Henry Bull
Agency And Partnership Law [2015], Pearlie M. C. Koh, Stephen Noel Henry Bull
Research Collection Yong Pung How School Of Law
The laws relating to the creation of an agency, implied authority, holding out and apparent authority, duties of the agent in relation to Agency law are discussed. The laws relating to partnership law and issues such as relationship of partners to third parties, relationships of partners between themselves and capacity to be a partner are highlighted.
When “Disruption” Collides With Accountability: Holding Ridesharing Companies Liable For Acts Of Their Drivers, Alexi Pfeffer-Gillett
When “Disruption” Collides With Accountability: Holding Ridesharing Companies Liable For Acts Of Their Drivers, Alexi Pfeffer-Gillett
Scholarly Articles
When Uber launched in San Francisco in 2010, it took the city by storm. Here was a high-tech transportation service that seemingly did everything better than taxicabs: it was more convenient, more accessible, more comfortable, and even cheaper in many instances. Uber’s initial success inspired a number of lower-cost, nonprofessional “ridesharing” options, which have flourished.
Some skeptics, including taxicab operators, have decried the arrival of these peer-to-peer ridesharing services, now classified by regulators as Transportation Network Companies (TNCs). While such complaints could be easily dismissed as the dying groans of a “disrupted” industry, a string of passenger safety incidents has …