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Full-Text Articles in Commercial Law

Does Contract Law Need Morality?, Kimberly D. Krawiec, Wenhao Liu Jan 2018

Does Contract Law Need Morality?, Kimberly D. Krawiec, Wenhao Liu

Faculty Scholarship

In "The Dignity of Commerce", Nathan Oman sets out an ambitious market theory of contract, which he argues is a superior normative foundation for contract law than either the moralist or economic justifications that currently dominate contract theory. In doing so, he sets out a robust defense of commerce and the marketplace as contributing to human flourishing that is a refreshing and welcome contribution in an era of market alarmism. But the market theory ultimately falls short as either a normative or prescriptive theory of contract. The extent to which law, public policy, and theory should account for values other ...


The Crisis In Corporate Governance: 2002 Style, Robert W. Hamilton Dec 2017

The Crisis In Corporate Governance: 2002 Style, Robert W. Hamilton

Maine Law Review

The period from November 1, 2001 to October 1, 2002 has been an astonishing period for corporate governance in many respects. It began with the completely unexpected collapse of Enron Corporation on November 1, 2001, followed almost immediately thereafter by widely publicized downward profit restatements and bankruptcy filings by a significant number of telecommunication companies. Since November 1, 2001, there have been numerous public reports of fraud, misconduct, and scandals by directors of other well-known corporations such as Lucent Technologies, Kmart, Merck & Co., and Rite Aid Corporation. There also have been disclosures of many instances in which corporate officers and ...


The Commercialisation Of Equity, Man Yip, James Lee Dec 2017

The Commercialisation Of Equity, Man Yip, James Lee

Research Collection School Of Law

This paper analyses the jurisprudence on the relevance of the commercial context to principles of the law of equity and trusts. We criticise recent UK Supreme Court decisions in the area (chiefly Williams v Central Bank of Nigeria, FHR European Ventures v Cedar Capital Partners and AIB Group v Mark Redler & Co) and identify a trend of the 'commercialisation' of the issues. The cases are placed in comparative context and it is argued that there is an unsatisfactory pattern of judicial reasoning, exhibiting a preference for some degree of unarticulated flexibility in commercial adjudication. But the price of that flexibility ...


Corporate Tax Avoidance And Honoring The Fiduciary Duties Owed To The Corporation And Its Stockholders, Eric C. Chaffee, Karie Davis-Nozemack Nov 2017

Corporate Tax Avoidance And Honoring The Fiduciary Duties Owed To The Corporation And Its Stockholders, Eric C. Chaffee, Karie Davis-Nozemack

Boston College Law Review

Corporate tax avoidance is a pressing issue of both national and international concern. Corporations usually claim that they are legally required to engage in aggressive tax strategies. But this Article proves that claim is incorrect when based upon the fiduciary duties owed to the corporation and its stockholders. Directors and other corporate managers often look to the classic case of Dodge v. Ford, which is ubiquitous in corporate law from the boardroom to the courtroom, as a North Star that guides them toward and defines their fiduciary duties to the corporation and its stockholders. In Dodge, the court held, “A ...


The Public Interest In Corporate Settlements, Brandon L. Garrett Nov 2017

The Public Interest In Corporate Settlements, Brandon L. Garrett

Boston College Law Review

Corporate settlements are proliferating in form and function. They include consent decrees, corporate integrity agreements, deferred prosecution agreements, non-prosecution agreements, leniency agreements, and plea bargains. Enforcers at the federal and state level enter an array of administrative, civil, and criminal resolutions of enforcement actions against companies. The reach of these settlements is global, and corporate fines have reached new records, with penalties in the hundreds of billions of dollars affecting entire industries and economies. These settlements have not been studied together as a subject, perhaps because they span very different fields, from antitrust to banking, environmental law, health law, and ...


Stopping Illegal Fishing And Seafood Fraudsters: The Presidential Task Force’S Plan On Tackling Iuu Fishing And Seafood Fraud, Thomas Lampert Nov 2017

Stopping Illegal Fishing And Seafood Fraudsters: The Presidential Task Force’S Plan On Tackling Iuu Fishing And Seafood Fraud, Thomas Lampert

Boston College Law Review

Worldwide seafood markets have a major problem: too often, the seafood listed on the menu is of a different species than what is served. This phenomenon—known as seafood fraud—and the related practice of illegal, unreported, and unregulated fishing threatens the sustainability of our oceans, poses health risks to consumers, and forces consumers to pay a high price for a cheap product. Previous domestic and international efforts to combat this issue have failed for a number of reasons, including the international nature of the industry, a byzantine supply chain, the large number of entities responsible for combatting the issue ...


Heroism Science Offers A New Framework For Cultivating Civic Virtue Within Clinical Law Programs, Francina Cantatore, Nickolas J. James Nov 2017

Heroism Science Offers A New Framework For Cultivating Civic Virtue Within Clinical Law Programs, Francina Cantatore, Nickolas J. James

Australian Journal of Clinical Education

Law schools have an obligation to produce law graduates who are not only knowledgeable and competent but also committed to working towards the public good. Clinical law programs, and in particular pro bono law clinics, have the potential to provoke a positive personal transformation on the part of the law student, leading to the development of civic virtue, but law schools lack a useful framework for conceptualising, facilitating and evaluating this personal transformation. The emergent field of heroism science provides such a framework. In particular the notion of the ‘hero’s journey’ can be drawn upon to address some of ...


Maine Corporation Law & Practice, 2nd Edition, George F. Eaton Ii, Kristy M. Smith Nov 2017

Maine Corporation Law & Practice, 2nd Edition, George F. Eaton Ii, Kristy M. Smith

Maine Law Review

In 2001, several members of the Business Law Section of the Maine Bar Association convened the Corporate Law Revision Committee (the Committee), which set out to adapt the Model Business Corporation Act (the Model Act) for use in Maine. Maine's corporation law had not benefited from a comprehensive over-haul since 1971, and notwithstanding periodic updates of specific components of the statutory regime over the years, a thorough and comprehensive revision was needed to keep pace with modern corporate law and practice in the twenty-first century. The Committee's efforts, under the leadership of James B. Zimpritch, Esq., widely acknowledged ...


A Progressive Case For A Universal Transaction Tax, Gary Chartier Nov 2017

A Progressive Case For A Universal Transaction Tax, Gary Chartier

Maine Law Review

Federal Reserve Board chair Alan Greenspan’s recent call for tax simplification and his acknowledgement of arguments for a consumption tax may help to place the question of such taxes, including a value-added tax (VAT), on the national political agenda. If the possibility of imposing a VAT does receive significant national attention, the debate it occasions will obviously, and appropriately, focus in part on a variety of technical questions. But normative questions will likely be at issue as well. A VAT is like a sales tax, but is applied at each stage in a product’s development and not merely ...


Trending @ Rwu Law: Michael Bowden's Post: Celebrating Professor Tony Santoro 10-31-2017, Michael Bowden Oct 2017

Trending @ Rwu Law: Michael Bowden's Post: Celebrating Professor Tony Santoro 10-31-2017, Michael Bowden

Law School Blogs

No abstract provided.


I Profili Nutrizionali: Una Valutazione Critica, Luis González Vaqué Oct 2017

I Profili Nutrizionali: Una Valutazione Critica, Luis González Vaqué

Luis González Vaqué

Food law establishes the rights of consumers to safe food and to accurate and honest information.
In the European Union, the labelling rules enable the citizens to get comprehensive information about the content and composition of food products. Labelling helps consumers to make an informed choice while purchasing their foodstuffs.


A Rose By Any Other Name: Elucidating The Intersection Of Patent And Antitrust Laws In Tying Arrangement Cases, Kyle R. Friedman Oct 2017

A Rose By Any Other Name: Elucidating The Intersection Of Patent And Antitrust Laws In Tying Arrangement Cases, Kyle R. Friedman

Maine Law Review

In Illinois Tool Works Inc. v. Independent Ink, Inc., an ink manufacturer sought to invalidate patents held by a printing system manufacturer by alleging that the patents resulted in illegal tying and monopolization in violation of Sections 1 and 2 of the Sherman Act. This action was preceded by an infringement action brought by Illinois Tool Works (ITW), which was dismissed for lack of personal jurisdiction. Independent Ink (Independent) responded by seeking a judgment of non-infringement and invalidity of patents against ITW. The district court granted summary judgment in favor of ITW on both counts. The court of appeals reversed ...


The Corporation As Sovereign, Allison D. Garrett Oct 2017

The Corporation As Sovereign, Allison D. Garrett

Maine Law Review

In the past two hundred years, sovereignty devolved from the monarch to the people in many countries; in our lifetimes, it has devolved in several significant ways from the people to the corporation. We are witnesses to the erosion of traditional Westphalian concepts of sovereignty, where the chess game of international politics is played out by nation-states, each governing a certain geographic area and group of people. Eulogies for the nation-state often cite globalization as the cause of death. The causa mortis is characterized by the increase in the power and normative influence of supranational organizations, such as the United ...


Lord Denning’S Influence On Contract Formation In Singapore: An Overdue Demise?, Chia Ming Lee, Wei Yao, Kenny Chng Oct 2017

Lord Denning’S Influence On Contract Formation In Singapore: An Overdue Demise?, Chia Ming Lee, Wei Yao, Kenny Chng

Research Collection School Of Law

In a series of inconsistent decisions by the Singapore courts on contractformation in continuing negotiations cases, Lord Denning’s broad approach—which does away with the traditional offer and acceptance analysis—appearsto have been simultaneously adopted and rejected. This article suggests thatthe continued uncertainty in Singapore regarding the scope of application ofthe traditional approach and Lord Denning’s approach arises from aconflation of both as being substantially similar. This article further arguesthat both approaches are conceptually and practically distinct. A better wayforward for Singapore law in the area of contract formation in continuingnegotiations cases, having regard to developments in English ...


Smart Contracts: Terminology, Technical Limitations And Real World Complexity, Eliza Mik Oct 2017

Smart Contracts: Terminology, Technical Limitations And Real World Complexity, Eliza Mik

Research Collection School Of Law

If one is to believe the popular press and many “technical writings,” blockchains create not only a perfect transactional environment but also obviate the need for banks, lawyers and courts. The latter will soon be replaced by smart contracts: unbiased and infallible computer programs that form, perform and enforce agreements. Predictions of future revolutions must, however, be distinguished from the harsh reality of the commercial marketplace and the technical limitations of blockchains. The fact that a technological solution is innovative and elegant need not imply that it is commercially useful or legally viable. Apart from attempting a terminological “clean-up” surrounding ...


L’Etichettatura Informa Davvero Il Consumatore?, Luis González Vaqué Sep 2017

L’Etichettatura Informa Davvero Il Consumatore?, Luis González Vaqué

Luis González Vaqué

Dubbi e riflessioni sull’efficacia delle etichette alimentari


Newsroom: Gutoff, Nixon On Puerto Rico 09-28-2017, Katie Warren, Roger Williams University School Of Law Sep 2017

Newsroom: Gutoff, Nixon On Puerto Rico 09-28-2017, Katie Warren, Roger Williams University School Of Law

Life of the Law School (1993- )

No abstract provided.


Newsroom: From Farm To School 09-21-2017, Jill Rodrigues, Roger Williams University School Of Law Sep 2017

Newsroom: From Farm To School 09-21-2017, Jill Rodrigues, Roger Williams University School Of Law

Life of the Law School (1993- )

No abstract provided.


E-Commerce All At Sea: China Welcomes Digital Bills Of Lading Under The Electronic Signature Law 2005, Felix W.H. Chan Sep 2017

E-Commerce All At Sea: China Welcomes Digital Bills Of Lading Under The Electronic Signature Law 2005, Felix W.H. Chan

Oklahoma Journal of Law and Technology

No abstract provided.


The Threads Of Justice: Economic Liberalization And The Secondhand Clothing Trade Between The U.S. And Haiti, Kelsey Gasseling Sep 2017

The Threads Of Justice: Economic Liberalization And The Secondhand Clothing Trade Between The U.S. And Haiti, Kelsey Gasseling

Boston College Law Review

After World War II, as economic liberalization spread across the globe through international negotiations like the General Agreement on Tariffs and Trade, so too did used clothing. Though many proponents of the trade laud its capacity to create employment opportunities in less developed countries, critics suggest it has a more insidious deleterious effect on local industry. To this day, however, little research has been done regarding the symbiotic relationship between trade liberalization and the secondhand clothing industry. Some economic scholars suggest that current approaches to liberal trade—unilateral trade preferences particularly—stymy, instead of stimulate sustainable and just economic growth ...


Sharing Economy Inequality: How The Adoption Of Class Action Waivers In The Sharing Economy Presents A Threat To Racial Discrimination Claims, Caitlin Toto Sep 2017

Sharing Economy Inequality: How The Adoption Of Class Action Waivers In The Sharing Economy Presents A Threat To Racial Discrimination Claims, Caitlin Toto

Boston College Law Review

In recent years, the sharing economy has pervaded the life of the consumer, challenging the regulatory and business status quo. Despite the pluralistic messages of many sharing economy companies, racial discrimination is a growing problem on peer-to-peer networks such as Uber and Airbnb. Victims of discrimination, however, have encountered an even greater opponent: class action waivers in arbitration agreements, which are omnipresent in sharing economy company contracts. Due to the inherent tie between class action and civil rights, racial discrimination claims in the sharing economy are held hostage by individual arbitration agreements. This Note argues that without action by Congress ...


Supremacy Of Law Or Religion: Congress's Power To Amend The Constitution Bypassing Constraints Of The Constitutional Process, Roman Sankovych Sep 2017

Supremacy Of Law Or Religion: Congress's Power To Amend The Constitution Bypassing Constraints Of The Constitutional Process, Roman Sankovych

DePaul Business and Commercial Law Journal

No abstract provided.


The Netflix Tax: Chicago's Extension Of Its Amusement Tax To Include Electronically Delivered Entertainment Faces Numerous Changes And Sets The Stage For Taxing On Streaming-Based Entertainment, Stephanie Cueman Sep 2017

The Netflix Tax: Chicago's Extension Of Its Amusement Tax To Include Electronically Delivered Entertainment Faces Numerous Changes And Sets The Stage For Taxing On Streaming-Based Entertainment, Stephanie Cueman

DePaul Business and Commercial Law Journal

No abstract provided.


Dodd-Frank Wall Street Reform And Consumer Protection Act: The Evolution Of Whistleblower Protections, Employment Contracts And Mandatory Arbitration Agreements, Florence Shu-Acquaye Sep 2017

Dodd-Frank Wall Street Reform And Consumer Protection Act: The Evolution Of Whistleblower Protections, Employment Contracts And Mandatory Arbitration Agreements, Florence Shu-Acquaye

DePaul Business and Commercial Law Journal

No abstract provided.


The Eleventh Circuit's Second Shot At Getting It Right: Nonconsensual Nondebtor Releases In Bankruptcy Court, Pierce G. Hand Iv Sep 2017

The Eleventh Circuit's Second Shot At Getting It Right: Nonconsensual Nondebtor Releases In Bankruptcy Court, Pierce G. Hand Iv

DePaul Business and Commercial Law Journal

No abstract provided.


Resolving Economic Disputes In Russia's Market Economy, Karen Halverson Sep 2017

Resolving Economic Disputes In Russia's Market Economy, Karen Halverson

Karen Halverson Cross

The purpose of this paper is to examine the recent transformation of state arbitrazh into economic courts along with the development of commercial arbitration in Russia, and to consider the relative utility of these mechanisms for resolving disputes in Russia's evolving market economy. Part I describes state arbitrazh and details its evolution into the existing system of economic courts. Part II discusses the past and recent development of commercial arbitration in Russia as an alternative to litigating domestic disputes. Part III considers various social and historic factors that hinder genuine reform.


Extraterritoriality Of The Regulations And Interconnections Of The Derivatives Market: Legal Implications For East And Southeast Asia, Christopher C. H. Chen Sep 2017

Extraterritoriality Of The Regulations And Interconnections Of The Derivatives Market: Legal Implications For East And Southeast Asia, Christopher C. H. Chen

Research Collection School Of Law

This article examines the legal implications of the interconnections of the global derivatives market, such as the exchange and over-the-counter (OTC) markets, in East and Southeast Asia. First, we introduce the interconnectedness of the global derivatives market. We then examine some legal implications of such interconnectedness from several angles, such as the extraterritoriality of relevant regulations (notably the reporting, clearing and trading mandates prescribed by the G20 and the new initial margin rule), standard product documentation, the effect of substituted compliance, the potential competition effect due to shifting OTC trades to exchange trading and the effect of consolidating exchanges and ...


Legal Transplantation Of Uk Style Takeover Regulation In Singapore, Wai Yee Wan Sep 2017

Legal Transplantation Of Uk Style Takeover Regulation In Singapore, Wai Yee Wan

Research Collection School Of Law

In 1974, Singapore adopted the UK City Code of Takeovers and Mergers (City Code), even though it did not have the equivalent of the business community to the City of London. The concentrated ownership structure of Singapore listed firms differs significantly from the Berle and Means ownership model found in the UK firms, even today. This chapter gives an account of the evolution of takeover regulation and explains the reasons for the transplantation, and with certain limited exceptions, maintenance of, UK model of takeover regulation, from the perspectives of the supply side of rule production, that is, the blockholders and ...


Legal Transplantation Of Uk Style Takeover Regulation In Singapore, Wai Yee Wan Sep 2017

Legal Transplantation Of Uk Style Takeover Regulation In Singapore, Wai Yee Wan

Research Collection School Of Law

In 1974, Singapore adopted the UK City Code of Takeovers and Mergers (City Code), even though it did not have the equivalent of the business community to the City of London. The concentrated ownership structure of Singapore listed firms differs significantly from the Berle and Means ownership model found in the UK firms, even today. This chapter gives an account of the evolution of takeover regulation and explains the reasons for the transplantation, and with certain limited exceptions, maintenance of, UK model of takeover regulation, from the perspectives of the supply side of rule production, that is, the blockholders and ...


A Director’S Duty Of Loyalty And The Relevance Of The Company’S Scope Of Business: Cheng Wai Tao V Poon Ka Man Jason, Pearlie M. C. Koh Sep 2017

A Director’S Duty Of Loyalty And The Relevance Of The Company’S Scope Of Business: Cheng Wai Tao V Poon Ka Man Jason, Pearlie M. C. Koh

Research Collection School Of Law

The Hong Kong Court of Final Appeal has utilised a ‘scope of business’ inquiry to delineate the boundaries of the no-conflict rule for the company director. Such an inquiry is directed at discerning the realistic ability of the company to exploit any particular business opportunity and a strict capacity approach is eschewed, at least where the no-conflict rule is concerned. The decision is premised on a bifurcation between the no-conflict and no-profit rules, suggesting that the tests to determine breach of these fiduciary rules are not necessarily the same, thus permitting a more nuanced consideration of directorial breaches.