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Full-Text Articles in Law

Strict Liability For Gatekeepers: A Reply To Professor Coffee, Frank Partnoy Oct 2004

Strict Liability For Gatekeepers: A Reply To Professor Coffee, Frank Partnoy

University of San Diego Law and Economics Research Paper Series

This article responds to a proposal by Professor John C. Coffee, Jr. for a modified form of strict liability for gatekeepers. Professor Coffee’s proposal would convert gatekeepers into insurers, but cap their insurance obligations based on a multiple of the highest annual revenues the gatekeepers recently had received from their wrongdoing clients. My proposal, advanced in 2001, would allow gatekeepers to contract for a percentage of issuer damages, after settlement or judgment, subject to a legislatively-imposed floor. This article compares the proposals and concludes that a contractual system based on a percentage of the issuer’s liability would be preferable to …


Encumbered Shares, Shaun Martin, Frank Partnoy Oct 2004

Encumbered Shares, Shaun Martin, Frank Partnoy

University of San Diego Law and Economics Research Paper Series

The fundamental assumptions in the law and economics literature about shareholder voting and the one-share/one-vote rule are flawed. The classic view is that share ownership is necessary and sufficient to create voting rights and that such rights should be directly proportional to share ownership. We demonstrate that this assumption is unfounded, both for shares that are “economically encumbered” (held by shareholders who are not pure residual claimants; e.g., a shareholder who owns one share and is also short one or more shares) as well as shares that are “legally encumbered” (held or associated with more than one shareholder; e.g., shares …


Estate Tax Repeal And The Budget Process, Karen C. Burke, Grayson M.P. Mccouch Oct 2004

Estate Tax Repeal And The Budget Process, Karen C. Burke, Grayson M.P. Mccouch

University of San Diego Law and Economics Research Paper Series

This article examines the Bush Administration’s proposal, as part of its proposed fiscal year 2005 budget, to extend permanently the repeal of the federal estate tax. The article considers the budgetary impact of permanent estate tax repeal and discusses procedural impediments to use of the reconciliation process for permanent tax cuts. The article also notes the possibility of a durable compromise solution involving retention of the estate tax with lower rates and a higher exemption.


Does The Tax Law Discriminate Against The Majority Of American Children: The Downside Of Our Progressive Rate Structure And Unbalanced Incentives For Higher Education?, Lester B. Snyder Oct 2004

Does The Tax Law Discriminate Against The Majority Of American Children: The Downside Of Our Progressive Rate Structure And Unbalanced Incentives For Higher Education?, Lester B. Snyder

University of San Diego Law and Economics Research Paper Series

Our graduate income tax structure provides an incentive to shift income to lower-bracket family members. However, some parents have much more latitude to shift income to their children than do others. Income derived from services and private business-by far the majority of American income-is less favored than income derived from publicly traded securities. The rationale given for this discrimination is that parents in services or private business, as opposed to those in securities, do not actually part with control of their property. This article explores these tax broader (yet subtle) tax benefits and their impact on the majority of children …


The New Partnership For Africa's Development: Institutional And Legal Challenges Of Investment Promotion, Victor Mosoti May 2004

The New Partnership For Africa's Development: Institutional And Legal Challenges Of Investment Promotion, Victor Mosoti

San Diego International Law Journal

This paper is divided into five parts. Part I introduces NEPAD, its philosophical basis and objectives. Part II discusses the investment promotion role of NEPAD and its difference from past development thinking about Africa's problems. In Part III we discuss NEPAD's strategy for realizing investment flows into Africa, some of the NEPAD's institutional weaknesses, and the repercussions thereof in realizing the NEPAD objectives. It also highlights the potential implications of NEPAD to the regional integration plan in Africa. Taking into account the supposed political clash between NEPAD and the AU, Part IV discusses possible ways of restructuring NEPAD to enable …


Human Development Challenges In Africa: A Rights-Based Approach, Dejo Olowu May 2004

Human Development Challenges In Africa: A Rights-Based Approach, Dejo Olowu

San Diego International Law Journal

This paper examines this plethora of questions and attempts to move the theory of human development in Africa beyond the traditional confines of its macroeconomic and political propositions. The paper assesses the concept of human development within the broader discourse on the role of human rights in global development, highlighting the overall African context of the subject. Against the backdrop of remarkably increasing scholarly efforts aimed at establishing human development as a human rights question, this paper evaluates the capacity of existing and emerging human rights frameworks relevant to Africa, and identifies viable trajectories for result-oriented human development actions.


Human Rights Approaches Of Corruption Control Mechanisms - Enhancing The Hong Kong Experience Of Corruption Prevention Strategies, C. Raj Kumar May 2004

Human Rights Approaches Of Corruption Control Mechanisms - Enhancing The Hong Kong Experience Of Corruption Prevention Strategies, C. Raj Kumar

San Diego International Law Journal

This Article is intended to make a case for promoting transparency in governance policies from a human rights perspective so as to argue for the development of a human right to good governance in Hong Kong. Secondly, it analyzes the work of the Independent Commission against Corruption (ICAC) in Hong Kong and addresses certain concerns in improving the efficiency of the ICAC. Thirdly, it argues that rights against corruption in Hong Kong should move beyond a law enforcement and public policy issue and attain the status of a human right. Fourthly, this Article examines the growth and development of international …


Using Architectural Constraints And Game Theory To Regulate International Cyberspace Behavior, Van N. Nguy May 2004

Using Architectural Constraints And Game Theory To Regulate International Cyberspace Behavior, Van N. Nguy

San Diego International Law Journal

The debate over whether cyberspace can or should be regulated is essentially dead. This is the conclusion being taught in law schools today. The battle between Judge Frank Easterbrook and Professor Lawrence Lessig over "laws" and "horses", infamous among cyberspace legal scholars, became irrelevant when geographically-based governments began regulating Internet related activities. However, debate over how the Internet should be regulated continues. One way of framing this debate is in terms of deciding how to regulate behavior in cyberspace. Professor Lessig postulated four kinds of constraints regulate behavior: (1) social norms, (2) markets, (3) law, and (4) architecture. This comment …


An Economic Analysis Of Domain Name Policy, Karl M. Manheim, Lawrence B. Solum Mar 2004

An Economic Analysis Of Domain Name Policy, Karl M. Manheim, Lawrence B. Solum

University of San Diego Law and Economics Research Paper Series

One of the most important features of the architecture of the Internet is the Domain Name System (DNS), which is administered by the Internet Corporation for Assigned Names and Numbers (ICANN). Logically, the DNS is organized into Top Level Domains (such as .com), Second Level Domains (such as amazon.com), and third, fourth, and higher level domains (such as www.amazon.com). The physically infrastructure of the DNS consists of name servers, including the Root Server System which provides the information that directs name queries for each Top Level Domain to the appropriate server. ICANN is responsible for the allocation of the root …