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Articles 1 - 30 of 36
Full-Text Articles in Law
Designing And Enforcing Preliminary Agreements, Albert H. Choi, George Triantis
Designing And Enforcing Preliminary Agreements, Albert H. Choi, George Triantis
Articles
Preliminary agreements—variously labeled as memoranda of understanding, letters of intent, term sheets, commitment letters, or agreements in principle—are common in complex business transactions. They document an incomplete set of terms that the parties have agreed upon, while anticipating further negotiation of the remaining provisions. They often create legal obligations, particularly a duty to negotiate in good faith. This duty has been the subject of a substantial number of judicial opinions over the past few decades and yet continues to be regarded as a confusing and unpredictable issue in contract law. Legal scholarship is hamstrung in its analysis of the case …
Reputation As A Disciplinarian Of International Organizations, Kristina Daugirdas
Reputation As A Disciplinarian Of International Organizations, Kristina Daugirdas
Articles
As a disciplinarian of international organizations, reputation has serious shortcomings. Even though international organizations have strong incentives to maintain a good reputation, reputational concerns will sometimes fail to spur preventive or corrective action. Organizations have multiple audiences, so efforts to preserve a “good” reputation may pull organizations in many different directions, and steps taken to preserve a good reputation will not always be salutary. Recent incidents of sexual violence by UN peacekeepers in the Central African Republic illustrate these points.
Contracting Out Of The Fiduciary Duty Of Loyalty: An Empirical Analysis Of Corporate Opportunity Waivers, Gabriel Rauterberg, Eric Talley
Contracting Out Of The Fiduciary Duty Of Loyalty: An Empirical Analysis Of Corporate Opportunity Waivers, Gabriel Rauterberg, Eric Talley
Articles
For centuries, the duty of loyalty has been the hallowed centerpiece of fiduciary obligation, widely considered one of the few “mandatory” rules of corporate law. That view, however, is no longer true. Beginning in 2000, Delaware dramatically departed from tradition by granting incorporated entities a statutory right to waive a crucial part of the duty of loyalty: the corporate opportunities doctrine. Other states have since followed Delaware’s lead, similarly permitting firms to execute “corporate opportunity waivers.” Surprisingly, more than fifteen years into this reform experiment, no study has attempted to either systematically measure the corporate response to these reforms or …
A Complainant-Oriented Approach To Unconscionability And Contract Law, Nicholas Cornell
A Complainant-Oriented Approach To Unconscionability And Contract Law, Nicholas Cornell
Articles
This Article draws attention to a conceptual point that has been overlooked in recent discussions about the theoretical foundations of contract law. I argue that, rather than enforcing the obligations of promises, contract law concerns complaints against promissory wrongs. This conceptual distinction is easy to miss. If one assumes that complaints arise whenever an obligation has been violated, then the distinction does not seem meaningful. I show, however, that an obligation can be breached without giving rise to a valid complaint. This Article illustrates the importance of this conceptual distinction by focusing first on the doctrine of substantive unconscionability. I …
Reflections On Comity In The Law Of American Federalism, Gil Seinfeld
Reflections On Comity In The Law Of American Federalism, Gil Seinfeld
Articles
Comity is a nebulous concept familiar to us from the law of international relations. Roughly speaking, it describes a set of reciprocal norms among nations that call for one state to recognize, and sometimes defer to, the laws, judgments, or interests of another. Comity also features prominently in the law of American federalism, but in that context, it operates within limits that have received almost no attention from scholarly commentators. Specifically, although courts routinely describe duties that run from one state to another, or from the federal government to the states, as exercises in comity, they almost never rely on …
The End Of Jurisprudence, Scott Hershovitz
The End Of Jurisprudence, Scott Hershovitz
Articles
For more than forty years, jurisprudence has been dominated by the HartDworkin debate. The debate starts from the premise that our legal practices generate rights and obligations that are distinctively legal, and the question at issue is how the content of these rights and obligations is determined. Positivists say that their content is determined ultimately or exclusively by social facts. Anti-positivists say that moral facts must play a part in determining their content. In this Essay, I argue that the debate rests on a mistake. Our legal practices do not generate rights and obligations that are distinctively legal. At best, …
State Bystander Responsibility, Monica Hakimi
State Bystander Responsibility, Monica Hakimi
Articles
International human rights law requires states to protect people from abuses committed by third parties. Decision-makers widely agree that states have such obligations, but no framework exists for identifying when states have them or what they require. The practice is to varying degrees splintered, inconsistent, and conceptually confused. This article presents a generalized framework to fill that void. The article argues that whether a state must protect someone from third-party harm depends on the state's relationship with the third party and on the kind of harm caused. A duty-holding state must take reasonable measures to restrain the abuser. That framework …
Craft And Power, Carl E. Schneider
Craft And Power, Carl E. Schneider
Articles
Oliver Wendell Holmes-a great judge-said that "the command of the public force is intrusted to the judges in certain cases, and the whole power of the state will be put forth, if necessary, to carry out their judgments and decrees." Appellate courts command that force in ways that principle and practicalities leave little fettered. Judges must fetter themselves, not least by honoring the judicial duty of craftsmanship. That duty obliges courts to respect procedural rules, for they keep courts within their bounds and promote fair and sound decisions. That duty obliges courts to analyze legal authority scrupulously, since judicial legitimacy …
Is A Gift Forever?, William I. Miller
Is A Gift Forever?, William I. Miller
Articles
What are the rules regarding gifts you receive? Can you give them away? If so, must you conceal that you have done so from the original giver? Or is there a statute of limitations, after which any right the original giver has to feel wronged or to burden you with guilt for undervaluing it by giving it away rightly expires? Even an heirloom might exhaust its sacredness. Sometimes the sacred has a half-life, as might be the case, for instance, with your grandmother’s dining set. Can the giver ask for his gifts back if you try to give them away? …
Partially Odious Debts?, Omri Ben-Shahar, Mitu Gulati
Partially Odious Debts?, Omri Ben-Shahar, Mitu Gulati
Articles
The despotic ruler of a poor nation borrows extensively from foreign creditors. He spends some of those funds on building statues of himself, others on buying arms for his brutal secret police, and he places the remainder in his personal bank accounts in Switzerland. The longer the despot stays in power, the poorer the nation becomes. Although the secret police are able to keep prodemocracy protests subdued by force for many years, eventually there is a popular revolt. The despot flees the scene with a few billion dollars of his illgotten gains. The populist regime that replaces the despot now …
Contracts Without Consent: Exploring A New Basis For Contractual Liability, Omri Ben-Shahar
Contracts Without Consent: Exploring A New Basis For Contractual Liability, Omri Ben-Shahar
Articles
This Essay explores an alternative to one of the pillars of contract law, that obligations arise only when there is "mutual assent "--when the parties reach consensus over the terms of the transaction. It explores a principle of "no-retraction," under which each party is obligated to terms it manifested and can retract only with some liability. In contrast to the all-or-nothing nature of the mutual assent regime, where preliminary forms of consent are either full-blown contracts or create no obligation, under the no-retraction regime, obligations emerge gradually, as the positions of the negotiating parties draw closer. Further, the no-retraction liability …
Forward [To Freedom From Contract Symposium], Omri Ben-Shahar
Forward [To Freedom From Contract Symposium], Omri Ben-Shahar
Articles
This Symposium explores freedom from contract. When I was preparing to travel from my home in Ann Arbor to the University of Wisconsin where this Symposium was to be held, my 9-year-old son asked where I was headed. I explained that a bunch of people and I were going to meet and talk about freedom from contract, but the boy seemed unsure what this exchange was going to be about. I tried to translate: "It is about making promises that you don't really have to keep." This sounded surprising to him. He raised an inquisitive brow, and I knew he …
Do World Trade Organization Dispute Settlement Reports Affect The Obligations Of Non-Parties? -- Response To Mcnelis, Donald H. Regan
Do World Trade Organization Dispute Settlement Reports Affect The Obligations Of Non-Parties? -- Response To Mcnelis, Donald H. Regan
Articles
In the June 2003 issue of this Journal, Natalie McNelis argued that when a World Trade Organization (WTO) dispute is settled by a Dispute Settlement Body (DSB) report, even Members who are not parties to the dispute have an obligation to conform their behaviour to legal principles laid down in the report. 1 Although I am generally sympathetic to McNeis's conclusion-and although I think she does a great service by directing our attention to the question of how Members, as opposed to later tribunals, should respond to DSB reports-I think her argument cannot stand as she presents it. After explaining …
Comparing The General Good Faith Provisions Of The Pecl And The Ucc: Appearance And Reality, Harry Flechtner
Comparing The General Good Faith Provisions Of The Pecl And The Ucc: Appearance And Reality, Harry Flechtner
Articles
"Good faith" is a notoriously amorphous and variable concept. Thus it is the interpretation and application of the concept that provides the most important points of comparison for the good faith provisions of the Principles of European Contract Law ("PECL") and the Uniform Commercial Code ("UCC") . The UCC has been in force since the 1950's, and its good faith provisions have been applied in hundreds of cases. In contrast, the PECL is a new phenomenon and its good faith rules have not been applied to actual cases. The comment to PECL Article 1:201, however, includes five concrete illustrations of …
The Tentative Case Against Flexibility In Commercial Law, Omri Ben-Shahar
The Tentative Case Against Flexibility In Commercial Law, Omri Ben-Shahar
Articles
Well-rooted in modern commercial law is the idea that the law and the obligations that it enforces should reflect the empirical reality of the relationship between the contracting parties. The Uniform Commercial Code ("Code") champions this tradition by viewing the performance practices formed among the parties throughout their interaction as a primary source for interpreting and supplementing their explicit contracts. The generous recognition of waiver and modifications, as well as the binding force the Code accords to course of performance, course of dealings, and customary trade usages, effectively permits unwritten commercial practices to vary and to erode explicit contractual provisions.
Making International Refugee Law Relevant Again: A Proposal For Collectivized And Solution-Oriented Protection, James C. Hathaway, R. Alexander Neve
Making International Refugee Law Relevant Again: A Proposal For Collectivized And Solution-Oriented Protection, James C. Hathaway, R. Alexander Neve
Articles
International refugee law is in crisis. Even as armed conflict and human rights abuse continue to force individuals and groups to flee their home countries, many governments are withdrawing from the legal duty to provide refugees with the protection they require. While governments proclaim a willingness to assist refugees as a matter of political discretion or humanitarian goodwill, they appear committed to a pattern of defensive strategies designed to avoid international legal responsibility toward involuntary migrants. Some see this shift away from a legal paradigm of refugee protection as a source for enhanced operational flexibility in the face of changed …
Rights Of Subrogation In Letters Of Credit Transactions, James J. White
Rights Of Subrogation In Letters Of Credit Transactions, James J. White
Articles
The past twenty years have seen more than a dozen cases, in which parties to letter of credit transactions have sought subrogation to the rights of the person they have paid or to the rights of the persons on behalf of whom, they have acted.' The most obvious case arises when the issuer of a standby letter of credit pays a beneficiary on a debt that is owed to the beneficiary by a bankrupt applicant. Having failed to take 'collateral from the applicant, the issuer seeks to be subrogated to the security interest of the beneficiary. Failing subrogation, the issuer …
On The Duties And Rights Of Parents, Carl E. Schneider
On The Duties And Rights Of Parents, Carl E. Schneider
Articles
The law of the family is the law of the absurd. Law is a system of rules administered institutionally, and thus it must treat people categorically. When law regulates economic life, it finds people at arguably their most schematic, motivated-perhaps-by a relatively unitary conception of their interest pursued in relatively rational ways. But in family life, people are at their least schematic and at their most frustratingly human, various, idiosyncratic, irrational, and perverse, and the law's efforts to affect them are thus often quixotic. In Parents as Fiduciaries, 1 Professor Scott and Dean Scott strikingly and boldly deploy the …
How To Negotiate A Sales Contract, James J. White
How To Negotiate A Sales Contract, James J. White
Articles
A. Introduction 1. In my experience, lawyers begin negotiating only after the business people have decided upon the description and quality of the product, the time of delivery, and the mode and amount of payment. The lawyers are left with the pathological problems - who gets what in case of trouble. 2. Most of those pathological problems relate to the seller's responsibility if the product does not conform to the contract or otherwise fails to please the buyer. These failures can cause economic loss to the buyer, economic loss to a remote purchaser, or personal injury or property damage to …
Law And Enchantment: The Place Of Belief, Joseph Vining
Law And Enchantment: The Place Of Belief, Joseph Vining
Articles
The question I wish to raise is whether one must believe what one says when one makes a statement of law. The language of belief that we know, and from which moral discourse and the moral never stray far: do judges, lawyers, law participate in it? Any such question is but an aspect of a larger question, indeed issue, of what we may call the objectivity of legal language. It is raised perhaps most acutely by the broad claims now being made for artificial intelligence and in particular for the computer programming of legal advice (as a species of what …
The Funding Of Children's Educational Costs, Douglas A. Kahn
The Funding Of Children's Educational Costs, Douglas A. Kahn
Articles
A plan for reduction of educational costs should take federal transfer taxes into account. The method chosen for reducing income tax liability usually will involve making gifts. To the extent that it is convenient to do so, the transfer tax consequences of making such gifts should be minimized. This article will examine the estate and gift tax consequences of the income tax reduction arrangements described herein and will consider means of structuring the transactions so as to minimize those consequences.
Use And Non-Use Of Contract Law In Japan, Whitmore Gray
Use And Non-Use Of Contract Law In Japan, Whitmore Gray
Articles
This article first defines the scope of enquiry, then surveys some of the existing literature, and finally, presents the results of my preliminary survey interviews and questionnaire. It is my hope that it will serve as a basis form discussion leading to better definition of the problems for research in this area, and will suggest ways to proceed to gather the information necessary for more sophisticated exposition and commentary.
The Effects Of Inflation On The Law Of Obligations In Argentina, Brazil, Chile And Uruguay, Keith S. Rosenn
The Effects Of Inflation On The Law Of Obligations In Argentina, Brazil, Chile And Uruguay, Keith S. Rosenn
Articles
No abstract provided.
Compulsory Joinder Of Parties In Civil Actions, John W. Reed
Compulsory Joinder Of Parties In Civil Actions, John W. Reed
Articles
The plaintiff in a civil cause ordinarily is permitted to select the persons with whom he will litigate. The initial designation of parties to an action is made by the plaintiff, and if he chooses to sue B and not A,' that is ordinarily of no concern to B or to A or to the court. So also where the plaintiff without A as co-plaintiff sues B. Not always, however, is the plaintiff permitted unfettered choice in naming the parties to his lawsuit. On the one hand there are persons whose relationship to the situation in litigation is outside the …
Mutuality In Specific Performance, Edgar N. Durfee
Mutuality In Specific Performance, Edgar N. Durfee
Articles
Prior to the present century, the subject of mutuality in specific performance was an unsolved puzzle. The decisions of the courts were in the main wise, but the attempts both of courts and text writers to formulate a statement of the principle governing these decisions were far from happy. After two centuries of litigation and discussion, the current formula was that the remedy must be mutual, must be equally available to both parties. The worst fault of this formula was its plausibility. Equality is equity, and perfect equality between the parties to a contract is not attained unless remedies are …
Gratuitous Partial Assignments, Edwin D. Dickinson
Gratuitous Partial Assignments, Edwin D. Dickinson
Articles
Is it possible to make an effective and irrevocable assignment by way of gift of part of a chose in action? There are no obvious reasons why it should not be possible. Gifts of a great variety of valuable rights are favored and protected by the law. Why not a gift of part of a chose in action? An answer deduced from the decided cases is not in all respects as certain and satisfactory as one might anticipate. Perhaps it is not too much to say that the answer is problematical. The problem invites interest, not only because it appears …
Is The Assignee Of A Contract Liable For The Non-Performance Of Delegated Duties?, Grover C. Grismore
Is The Assignee Of A Contract Liable For The Non-Performance Of Delegated Duties?, Grover C. Grismore
Articles
IT is an oft recurring statement that "rights arising out of a contract cannot be transferred if they are coupled with liabilities." It is such obscure statements as this which give rise to and perpetuate error, and an examination of the cases will show that this one has been responsible for no little confusion in regard to the matter of assignment in the law of Contract. Our courts, under the pressure of a well filled docket, are prone to seize upon a broad generalization of this kind without examining its true meaning or defining its proper limitations. It is high …
Effect Of An Agreement By One Person To Supply Another's 'Requirements' Of A Given Commodity, Grover C. Grismore
Effect Of An Agreement By One Person To Supply Another's 'Requirements' Of A Given Commodity, Grover C. Grismore
Articles
The cases show that the kind of agreement indicated by the heading of this note has become an established part of business usage. In normal times such an agreement is likely to be carried out to the entire satisfaction of both parties, without question, but, in a period of changing business conditions and abnormal price flctuations such as we have witnessed during the last few years, nice questions of interpretation are likely to arise, as is well illustrated by the recent case of Oscar Schlegel Mfg. Co. v. Peter Coopers Glue Factory, (1920) 179 N. Y. S. 271.
The Content Of Covenants In Leases, Ralph W. Aigler
The Content Of Covenants In Leases, Ralph W. Aigler
Articles
Among the many troublesome problems in law those arising out of "covenants running with the land" are not the least It is quite clear that in order for a covenant to "run" there must be an intimacy of relationship between it and the land, or. more properly, the estate, with which it passes. It is, then, vitally important to consider in each case the subject matter, the content of the covenant, and this matter of relationship.
Effect Of Change Of Law Upon Obligation To Pay Rent, Ralph W. Aigler
Effect Of Change Of Law Upon Obligation To Pay Rent, Ralph W. Aigler
Articles
In McCullough Realty Co. v. Laemmle Film Service, (Nov. 16, 1917), 165 N. W. 33, the supreme court of Iowa had occasion to pass upon a question which has become increasingly frequent with the spread of prohibition laws, namely, the effect upon the obligation of a tenant to pay rent, of a subsequent law that makes it unlawful for him to use the premises for the purpose for which he leased them. The case before the Iowa court was not one arising out of a lease of premises for saloon purposes, but the question involved was precisely the same, and …