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Full-Text Articles in Contracts

The Nba's 2011 Collectively Bargained Amnesty Clause-Exploring The Fundamentals, Adam Epstein, Kathryn Kisska-Schulze Jul 2014

The Nba's 2011 Collectively Bargained Amnesty Clause-Exploring The Fundamentals, Adam Epstein, Kathryn Kisska-Schulze

Adam Epstein

The purpose of this article is to fundamentally introduce the amnesty clause, a relatively new provision in the labor and employment law discussions involving sport. The expression amnesty clause or amnesty provision is found in the 2011 NBA CBA. To date, academic references to the amnesty clause within the sport genre are virtually non-existent. The amnesty clause provides NBA teams a tool to release players from their contracts if they feel that the player turned out to be a bad investment, regardless of the reason. Additionally, by releasing a player under an amnesty clause provision, the team exercising the clause …


Sovereign Immunity And Sovereign Debt, W. Mark C. Weidemaier Dec 2013

Sovereign Immunity And Sovereign Debt, W. Mark C. Weidemaier

W. Mark C. Weidemaier

The law of foreign sovereign immunity changed dramatically over the course of the 20th century. The United States abandoned the doctrine of absolute immunity and opened its courts to lawsuits by private claimants against foreign governments. It also pursued a range of other policies designed to shift such disputes into litigation or arbitration (and thus relieve political actors of pressure to intervene on behalf of disappointed creditors). This article uses a unique data set of sovereign bonds to explore how international financial contracts responded to these legal and policy initiatives. The article makes three novel empirical and analytical contributions. The …


Indiana Jones, Contracts Originalist, W. Mark C. Weidemaier Dec 2013

Indiana Jones, Contracts Originalist, W. Mark C. Weidemaier

W. Mark C. Weidemaier

The process of drafting a contract can be routine, almost automated. Over a long enough time, lawyers may stop paying attention to contract language or even forget why it is there. The problem is acute with standard-form contracts and perhaps especially so with financial contracts such as sovereign bonds. How should courts interpret contract language when neither the parties, nor their lawyers, nor any other relevant player in the market can credibly explain what it does? This essay addresses this question in the context of one of the most contested interpretive questions in modern international finance: the meaning of the …


Injunctions In Sovereign Debt Litigation, W. Mark C. Weidemaier, Anna Gelpern Dec 2013

Injunctions In Sovereign Debt Litigation, W. Mark C. Weidemaier, Anna Gelpern

W. Mark C. Weidemaier

Injunctions against foreign sovereigns have come under criticism on comity and enforcement grounds. We argue that these objections are overstated. Comity considerations are important but not dispositive. Enforcement objections assign too much significance to the court’s inability to impose meaningful contempt sanctions, overlooking the fact that, when a foreign sovereign is involved, both money judgments and injunctions are enforced through what amounts to a court-imposed embargo. This embargo discourages third parties from dealing with the sovereign and, if sufficiently costly, can induce the sovereign to comply. Nevertheless, we are skeptical about injunctions in sovereign debt litigation. They are prone to …


Promises To Keep? Coaches Tubby Smith, Jimmy Williams And Lessons Learned In 2012, Adam Epstein, Henry Lowenstein Dec 2013

Promises To Keep? Coaches Tubby Smith, Jimmy Williams And Lessons Learned In 2012, Adam Epstein, Henry Lowenstein

Adam Epstein

The primary purpose of this article is to explore the 2012 legal decision that stemmed from an employment-related fiasco in 2007 when Coach Orlando Henry “Tubby” Smith first formed his staff at UM and asked coach Jimmy Williams from Oklahoma State University to join him as an assistant coach. Smith’s offer, however, proved not to be a legally binding offer, at least according to the Minnesota Supreme Court, because Smith apparently did not have the authority to make the offer in the first place. In fact, Jimmy Williams was declared by the Minnesota Supreme Court majority to have been sophisticated …


A People's History Of Collective Action Clauses, W. Mark C. Weidemaier, Mitu Gulati Dec 2012

A People's History Of Collective Action Clauses, W. Mark C. Weidemaier, Mitu Gulati

W. Mark C. Weidemaier

For two decades, collective action clauses (CACs) have been part of the official-sector response to sovereign debt crisis, justified by claims that these clauses can help prevent bailouts and shift the burden of restructuring onto the private sector. Reform efforts in the 1990s and 2000s focused on CACs. So do efforts in the Eurozone today. CACs have even been suggested as the cure for the US municipal bond market. But bonds without CACs are still issued in major markets, so reformers feel obliged to explain why they know better. Over time, a narrative has emerged to justify pro-CAC reforms. It …


Sovereign Debt After Nml V. Argentina, W. Mark C. Weidemaier Dec 2012

Sovereign Debt After Nml V. Argentina, W. Mark C. Weidemaier

W. Mark C. Weidemaier

The conventional wisdom is that sovereigns repay their debts not because they fear litigation but because they wish to preserve their reputation in the capital markets or because they have some other incentive to repay. The ongoing case of NML Capital v. Argentina has the potential to shatter this consensus. A panel of the US Court of Appeals for the Second Circuit has approved a novel injunction, which requires Argentina to make full payment to holdouts who declined to participate in its post-2001 debt restructuring if the country intends to pay restructuring participants. The decision has caused market turmoil and …


Taxing Missy: Operation Gold And The 2012 Proposed Olympic Tax Elimination Act, Kathryn Kisska-Schulze, Adam Epstein Dec 2012

Taxing Missy: Operation Gold And The 2012 Proposed Olympic Tax Elimination Act, Kathryn Kisska-Schulze, Adam Epstein

Adam Epstein

The purpose of this article is to explore the legal and tax environment surrounding the August 1, 2012 bill referred to as the Olympic Tax Elimination Act (OTEA) which was introduced in the U.S. Senate to exempt from gross income the prize money earned by U.S. Olympians from the United States Olympic Committee (USOC) for earning a gold, silver or bronze medal. The OTEA came at a time when American economic growth has been stagnant, and income tax issues became a hotly contested political debate for the 2012 Presidential election. The article explores how tax issues have weaved their way …


Missouri Sports Law, Adam Epstein Dec 2012

Missouri Sports Law, Adam Epstein

Adam Epstein

The purpose of this paper is to present a brief perspective and overview on how individuals and teams associated with the state of Missouri have had an impact on sports law in general. This article synthesizes Missouri-related cases and decisions, demonstrating that the legal issues are quite broad and varied in this area of the law. Some represent significant state and federal sports law cases including those that have been initiated in or traveled through Missouri via the Eighth Circuit Court of Appeals.


Surveying Colorado Sports Law, Adam Epstein Dec 2012

Surveying Colorado Sports Law, Adam Epstein

Adam Epstein

The purpose of this article is to provide an overview and explore some of the major sports law cases that have emanated from within the four corners of the state of Colorado or maneuvered through Denver’s Tenth Circuit Court of Appeals. Colorado is a prime location for a wide range of cutting edge cases, decisions, discussions and events which have an impact on the relationship between sports and the law among the professional, amateur and recreational environments. Legal issues at Colorado-based educational institutions appear to have an affinity for and history of exposing and challenging the authority of NCAA policies.


Contract And Dispossession, Deborah W. Post Aug 2012

Contract And Dispossession, Deborah W. Post

Deborah W. Post

This Essay, part of a collection of essays on the same theme, argues that contract law has become an instrument of oppression and dispossession rather than liberation. Having offered a critique, the challenge then is to consider whether it is possible to restore the liberatory potential of contract. The symposium, Post-Marxism, Post-Racialism & Other Fables of the Dispossession, was an invitation to consider the contemporary relevance of Marxist theory. There are two reference points in this cultural critique. One is the importance of social position in a jurisprudence that embraces objectivity; the uncritical and unreflective reliance on hegemonic social practices, …


Freedom To Achieve: The Future Of Student-Led Organizations Within The Public School System, Braden W. Johnson Apr 2012

Freedom To Achieve: The Future Of Student-Led Organizations Within The Public School System, Braden W. Johnson

Braden W Johnson

On-campus religious organizations have received special protections according to their First Amendment rights and the Equal Access Act of 1984. As more controversial organizations have been incorporated within the public school system, school administrators have found it increasingly hard to control the effects of these groups. This article argues for a revision to the Equal Access Act which strengthen's a school's ability to place restrictions on the formation of controversial clubs.


Cross-Cultural Readings Of Intent: Form, Fiction, And Reasonable Expectations, Deborah Waire Post Jan 2012

Cross-Cultural Readings Of Intent: Form, Fiction, And Reasonable Expectations, Deborah Waire Post

Deborah W. Post

No abstract provided.


Reforming Sovereign Lending: Modern Initiatives In Historical Context, W. Mark C. Weidemaier Dec 2011

Reforming Sovereign Lending: Modern Initiatives In Historical Context, W. Mark C. Weidemaier

W. Mark C. Weidemaier

In response to the Eurozone sovereign debt crisis, policymakers have initiated a range of reforms falling at both poles of the “hard”/“soft” law continuum. One of the most ambitious is the United Nations Conference on Trade and Development’s initiative to identify what it calls “Principles of Responsible Sovereign Lending and Borrowing.” The Principles aim to transform attitudes about sovereign lending in general, and sovereign loan contracts in particular, through consensus-building, promulgating model contract terms, and other soft law approaches. Principle 15, for example, envisions the use of collective action clauses (CACs) to ensure that debt restructurings occur “promptly, efficiently, and …


How Markets Work: The Lawyer's Version, W. Mark C. Weidemaier, Mitu Gulati Dec 2011

How Markets Work: The Lawyer's Version, W. Mark C. Weidemaier, Mitu Gulati

W. Mark C. Weidemaier

In this article, we combine two sources of data to shed light on the nature of transactional legal work. The first consists of stories about contracts that circulate widely among elite transactional lawyers. Surprisingly, the stories portray lawyers as ineffective market actors who are uninterested in designing superior contracts, who follow rather than lead industry standards, and who depend on governments and other outside actors to spur innovation and correct mistakes. We juxtapose these stories against a dataset of sovereign bond contracts produced by these same lawyers. While the stories suggest that lawyers do not compete or design innovative contracts, …


Go For The Gold By Utilizing The Olympics, Adam Epstein Dec 2011

Go For The Gold By Utilizing The Olympics, Adam Epstein

Adam Epstein

The purpose of this article is to demonstrate ways to incorporate legal issues related to the Olympic Games in the business law or legal environment course. This article provides a brief history of the legislation which has established the legal authority of the United States Olympic Committee (USOC), prominent cases, relevant laws and other legal issues that encompass the Olympic Games and their administration in the United States. Legal issues related to constitutional law, arbitration, jurisdiction, gender and disability discrimination, intellectual property, are also presented in a way in which the professor can use the Olympics as part of the …


Innovating Financial Law In The Early Modern Netherlands And Europe: Transfers Of Commercial Paper And Recourse Liability In Legislation And Ius Commune (Sixteenth-Eighteenth Centuries), Dave De Ruysscher Oct 2011

Innovating Financial Law In The Early Modern Netherlands And Europe: Transfers Of Commercial Paper And Recourse Liability In Legislation And Ius Commune (Sixteenth-Eighteenth Centuries), Dave De Ruysscher

Dave De ruysscher

In this contribution it is demonstrated how in the seventeenth and eighteenth centuries Dutch rules concerning negotiable credit instruments (i.e., bills obligatory to bearer and bills of exchange) transformed financial law throughout the European continent. The Antwerp and Amsterdam authorities devised precepts of law on such issues that went against substantial principles of the academic ius commune. In the course of the seventeenth century, the former’s success brought about their insertion into financial legislation of German cities. This phenomenon came along with a new comparative approach of legislators in the whole of Europe, which was typical of that period. During …


Preface To The Gateway Thread, Deborah W. Post Apr 2011

Preface To The Gateway Thread, Deborah W. Post

Deborah W. Post

No abstract provided.


Dismantling Democracy: Common Sense And The Contract Jurisprudence Of Frank Easterbrook, Deborah W. Post Apr 2011

Dismantling Democracy: Common Sense And The Contract Jurisprudence Of Frank Easterbrook, Deborah W. Post

Deborah W. Post

No abstract provided.


Teaching Torts With Sports, Adam Epstein Dec 2010

Teaching Torts With Sports, Adam Epstein

Adam Epstein

The purpose of this paper is to offer a pedagogical road map for an alternative way to engage students when arriving at the torts portion of the business law or legal environment course. It is designed to encourage utilizing sports cases and sport-related videos when teaching torts which can be effective and energizing. My research demonstrates that the prominence of sports related tort cases and examples are much more apparent in the negligence and intentional tort categories than in products liability or strict liability. More specifically, an effective way to relate the concept of negligence in sports is in the …


An Exploration Of Interesting Clauses In Sports, Adam Epstein Dec 2010

An Exploration Of Interesting Clauses In Sports, Adam Epstein

Adam Epstein

The purpose of this article is to explore a broad spectrum of some of the more prominent and interesting contract clauses that have worked their way into the practice of law in the business of sport. Many of the examples utilized in this article reflect the fundamental principles of contract law generally. The article explores contract clauses (and in some cases terminations) related to prominent coaches including Jim O'Brien, Kelvin Sampson, Tom Crean and Bruce Pearl. Other clauses explored include baseball's now outdated reserve clause, termination for cause clauses, morals, force majeure, liquidated damages, hazardous activity, best efforts, best interests …


Exploring Ethical Issues And Examples By Using Sport, Adam Epstein, Bridget Niland Dec 2010

Exploring Ethical Issues And Examples By Using Sport, Adam Epstein, Bridget Niland

Adam Epstein

The purpose of the paper is to offer suggestions to engage your students when arriving at the ethics portion of your business law, legal environment, or sports law course. With due respect given to the classic theory of ethics, the paper offers ethical issues in the context of sport at all levels, including youth sport, interscholastic, intercollegiate, professional and the Olympic Games. Unique topics include sport-related fraud, the use of performance-enhancing drugs and technology, raging parents, running up the score, and whether the myriad of NCAA bylaws genuinely reflect and promote fundamental principles of amateurism, sportsmanship, and education.


Religion And Sports In The Undergraduate Classroom: A Surefire Way To Spark Student Interest, Adam Epstein Dec 2010

Religion And Sports In The Undergraduate Classroom: A Surefire Way To Spark Student Interest, Adam Epstein

Adam Epstein

The purpose of this pedagogical piece is to present an opportunity to discuss religion in the context of sports as a means of generating classroom discussion and prompting extra-curricular reading on topics pertaining to business law primarily at the undergraduate level. A discussion of religion and sports provides one avenue to pursue exploration of the free exercise and establishment clauses. Examples are provided in the intercollegiate, interscholastic and professional sport contexts. The article also provides a brief primer on the First Amendment generally, outlining some of the classic Supreme Court cases. The article then discusses a series of cases involving …


Understanding The Federal Tort Claims Act: A Different Metaphor, Paul F. Figley Jul 2010

Understanding The Federal Tort Claims Act: A Different Metaphor, Paul F. Figley

Paul Figley

When it enacted the Federal Tort Claims Act Congress waived the United States’ sovereign immunity for certain torts of the federal government. That waiver is subject to exclusions, exceptions, and limitations that may seem puzzling or counterintuitive. This essay explains the structure and operation of the Federal Tort Claims Act by comparing it to “a traversable bridge across the moat of sovereign immunity” (a metaphor used by Judge Max Rosenn in a slightly different context). The essay examines why Congress enacted the FTCA, the jurisdictional grant that allows some tort claims but not others, the pre-requisites to bringing suit, the …


Contracting For State Intervention, W. Mark C. Weidemaier Dec 2009

Contracting For State Intervention, W. Mark C. Weidemaier

W. Mark C. Weidemaier

Most models of contracting behavior assume that contract terms are meant to be enforced, whether through legal or relational means. That assumption extends to dispute resolution terms like arbitration clauses. According to theory, contracting parties adopt arbitration clauses because they want to arbitrate disputes and because they believe that a counter-party who has agreed to arbitrate will keep that promise rather than incur the resulting legal or extra-legal sanction. In this article, I describe how this standard account cannot explain the origins of arbitration clauses in sovereign bond contracts. Drawing on original archival research and secondary sources, the article traces …


Multi-Level Marketing And Its Brethren: The Legal And Regulatory Environment In The Down Economy, Adam Epstein Dec 2009

Multi-Level Marketing And Its Brethren: The Legal And Regulatory Environment In The Down Economy, Adam Epstein

Adam Epstein

This article explores the legal and regulatory environment of multi-level marketing companies also known as MLM. Legal research is lacking in this area of business law though the regulatory environment involves a combination of federal and state laws including administrative agencies such as the FTC and SEC. In the current down economy, criminal enterprises such as Ponzi schemes have been exposed. MLMs are often compared to Ponzi and pyramid schemes and do share similarities. The article offers that personal responsibility is vital when determining whether to join any MLM in light of the volume of resources available on the internet.


Gambling And Collegiate Athletics, Adam Epstein, Bridget Niland Dec 2008

Gambling And Collegiate Athletics, Adam Epstein, Bridget Niland

Adam Epstein

The article discusses concerns involving intercollegiate sports gambling. It explores the National Collegiate Athletic Association (NCAA) rules known as Bylaws. The article also outlines and explores a history of notable college sports gambling incidents involving individuals and NCAA schools. The article also reviews relevant federal and state laws.


Sports Agent Litigation And The Regulatory Environment, Adam Epstein Dec 2008

Sports Agent Litigation And The Regulatory Environment, Adam Epstein

Adam Epstein

Some of the more important civil and criminal cases involving the litigious history of the sports agent business are discussed. The article provides the fundamentals of the regulatory environment in which sports agents (many of whom are lawyers) operate. While discussion of sports agency is not novel, the collection of major cases coupled with the current state of the regulatory/business environment provides the reader with a solid basis for future consideration or research. The appropriate state and federal laws are explored in detail. The role that the National Collegiate Athletic Association (NCAA) plays in “regulating” sports agents is also discussed.


Incorporating The Criminal Law In Sport Studies, Adam Epstein Dec 2008

Incorporating The Criminal Law In Sport Studies, Adam Epstein

Adam Epstein

The purpose of this article is to provide an outline for teaching the criminal law in a sport studies (or related) course. The article discusses the differences among various crimes and whether physical violence involves legitimate or illegitimate force during a sports contest. Even non-violent (white collar) crimes such as the incident at the University of Toledo demonstrate how the criminal law can weave its way into the legal environment of sport. The article also notes how crimes can be committed in all environments and at all levels: youth sport, recreational activities and leagues, amateur competition and in the professional …


Utilization Of The National Collegiate Athletic Association (Ncaa) Manual As A Teaching Tool, Adam Epstein Dec 2008

Utilization Of The National Collegiate Athletic Association (Ncaa) Manual As A Teaching Tool, Adam Epstein

Adam Epstein

This article provides instructors with some ideas as to how they can incorporate the Division I NCAA Manual into their own course without having to reinvent the wheel. Part I offers a brief history of the NCAA and provides the proper context for the particular provisions of the Manual. Part II focuses on the Manual itself, including discussions of principles and themes found within its borders, the connection of the Manual to traditional legal and sports law topics, and offers examples of some oversights and curious provisions for comic relief.