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Articles 1 - 25 of 25
Full-Text Articles in Jurisprudence
The Empty Idea Of “Equality Of Creditors”, David A. Skeel Jr.
The Empty Idea Of “Equality Of Creditors”, David A. Skeel Jr.
All Faculty Scholarship
For two hundred years, the equality of creditors norm—the idea that similarly situated creditors should be treated similarly—has been widely viewed as the most important principle in American bankruptcy law, rivaled only by our commitment to a fresh start for honest but unfortunate debtors. I argue in this Article that the accolades are misplaced. Although the equality norm once was a rough proxy for legitimate concerns, such as curbing self-dealing, it no longer plays this role. Nor does it serve any other beneficial purpose.
Part I of this Article traces the historical emergence and evolution of the equality norm, first …
Corporate Law Doctrine And The Legacy Of American Legal Realism, Edward B. Rock
Corporate Law Doctrine And The Legacy Of American Legal Realism, Edward B. Rock
All Faculty Scholarship
In this contribution to a symposium on "Legal Realism and Legal Doctrine," I examine the role that jurisprudence plays in corporate law doctrine. Through an examination of paired cases from the United States and United Kingdom, I offer a case study of the contrasting influence on corporate law judging of American Legal Realism versus traditional U.K. Doctrinalism.
Specialist judges in both systems, aided by specialist lawyers, clearly identify and understand the core policy issues involved in a dispute and arrive at sensible results. Adjusting for differences in background law and institutions, it seems likely that the disputes would ultimately be …
The Problem With Consenting To Insider Trading, Leo Katz
The Problem With Consenting To Insider Trading, Leo Katz
All Faculty Scholarship
No abstract provided.
The Disadvantages Of Immigration Restriction As A Policy To Improve Income Distribution, Howard F. Chang
The Disadvantages Of Immigration Restriction As A Policy To Improve Income Distribution, Howard F. Chang
All Faculty Scholarship
In this Article, I argue that tax and transfer policies are more efficient than immigration restrictions as instruments for raising the after tax incomes of the least skilled native workers. Policies to protect these native workers frol1'l immigrant competition in the labor market do no better at promoting distributive justice and are likely to impose a greater economic burden on natives in the country of immigration than the tax alternative. These immigration restrictions are especially costly given the disproportionate burden that they place on households with working women, which discourages fel1'wle participation in the labor force. This burden runs contrary …
Criminalization Of Corporate Law: The Impact On Shareholders And Other Constituents, Jill E. Fisch
Criminalization Of Corporate Law: The Impact On Shareholders And Other Constituents, Jill E. Fisch
All Faculty Scholarship
No abstract provided.
Welfare, Dialectic, And Mediation In Corporate Law, William W. Bratton
Welfare, Dialectic, And Mediation In Corporate Law, William W. Bratton
All Faculty Scholarship
No abstract provided.
Shareholder Value And Auditor Independence, William W. Bratton
Shareholder Value And Auditor Independence, William W. Bratton
All Faculty Scholarship
This Article questions the practice of framing problems concerning auditors’ professional responsibility inside a principal-agent paradigm. If professional independence is to be achieved, auditors cannot be enmeshed in agency relationships with the shareholders of their audit clients. As agents, the auditors by definition become subject to the principal’s control and cannot act independently. For the same reason, auditors’ duties should be neither articulated in the framework of corporate law fiduciary duty, nor conceived relationally at all. These assertions follow from an inquiry into the operative notion of the shareholder-beneficiary. The Article unpacks the notion of the shareholder and tells a …
How To Fix Wall Street: A Voucher Financing Proposal For Securities Intermediaries, Stephen Choi, Jill E. Fisch
How To Fix Wall Street: A Voucher Financing Proposal For Securities Intermediaries, Stephen Choi, Jill E. Fisch
All Faculty Scholarship
No abstract provided.
Enron, Sarbanes-Oxley And Accounting: Rules Versus Principles Versus Rents, William W. Bratton
Enron, Sarbanes-Oxley And Accounting: Rules Versus Principles Versus Rents, William W. Bratton
All Faculty Scholarship
No abstract provided.
Two Observations On Holocaust Claims, William W. Bratton
Two Observations On Holocaust Claims, William W. Bratton
All Faculty Scholarship
No abstract provided.
Deadweight Costs And Intrinsic Wrongs Of Nativism: Economics, Freedom, And Legal Suppression Of Spanish, William W. Bratton, Drucilla L. Cornell
Deadweight Costs And Intrinsic Wrongs Of Nativism: Economics, Freedom, And Legal Suppression Of Spanish, William W. Bratton, Drucilla L. Cornell
All Faculty Scholarship
No abstract provided.
Law And Economics Of English Only, William W. Bratton
Law And Economics Of English Only, William W. Bratton
All Faculty Scholarship
No abstract provided.
Dividends, Noncontractibility, And Corporate Law, William W. Bratton
Dividends, Noncontractibility, And Corporate Law, William W. Bratton
All Faculty Scholarship
No abstract provided.
Protecting The Environment: Finding The Balance Between Delaney And Free Play, Geoffrey C. Hazard Jr., Howard C. Kunreuther
Protecting The Environment: Finding The Balance Between Delaney And Free Play, Geoffrey C. Hazard Jr., Howard C. Kunreuther
All Faculty Scholarship
No abstract provided.
The New Economics Of Jurisdictional Competition: Devolutionary Federalism In A Second-Best World, William W. Bratton, Joseph A. Mccahery
The New Economics Of Jurisdictional Competition: Devolutionary Federalism In A Second-Best World, William W. Bratton, Joseph A. Mccahery
All Faculty Scholarship
No abstract provided.
An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery
An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery
All Faculty Scholarship
No abstract provided.
"A Nation Of Thieves": Securing Black People's Right To Shop And To Sell In White America, Regina Austin
"A Nation Of Thieves": Securing Black People's Right To Shop And To Sell In White America, Regina Austin
All Faculty Scholarship
No abstract provided.
"An Honest Living": Street Vendors, Municipal Regulation, And The Black Public Sphere, Regina Austin
"An Honest Living": Street Vendors, Municipal Regulation, And The Black Public Sphere, Regina Austin
All Faculty Scholarship
No abstract provided.
Lawyer Liability In Third Party Situations: The Meaning Of The Kaye Scholar Case, Geoffrey C. Hazard Jr.
Lawyer Liability In Third Party Situations: The Meaning Of The Kaye Scholar Case, Geoffrey C. Hazard Jr.
All Faculty Scholarship
The Kaye Scholer I case has excited much attention and alarm within the legal profession. 2 It is interpreted as greatly expanding the scope of lawyer liability to third parties and heralding much greater regulatory intervention into the relationship between lawyer and client. In some respects this interpretation is accurate. The Kaye Scholer proceeding is at least a "wake up call" to the legal profession, signalling that lawyers should be much more attentive to their legal and ethical obligations in transactional and regulatory matters. However, there is also much misunderstanding about Kaye Scholer, particularly the supposition that it created novel …
Self-Regulation, Normative Choice, And The Structure Of Corporate Fiduciary Law, William W. Bratton
Self-Regulation, Normative Choice, And The Structure Of Corporate Fiduciary Law, William W. Bratton
All Faculty Scholarship
No abstract provided.
Confronting The Ethical Case Against The Ethical Case For Constituency Rights, William W. Bratton
Confronting The Ethical Case Against The Ethical Case For Constituency Rights, William W. Bratton
All Faculty Scholarship
No abstract provided.
Public Values And Corporate Fiduciary Law, William W. Bratton
Public Values And Corporate Fiduciary Law, William W. Bratton
All Faculty Scholarship
No abstract provided.
The "Nexus Of Contracts" Corporation: A Critical Appraisal, William W. Bratton
The "Nexus Of Contracts" Corporation: A Critical Appraisal, William W. Bratton
All Faculty Scholarship
No abstract provided.
Rethinking The Rules Against Corporate Privacy Rights: Some Conceptual Quandries For The Common Law, Anita L. Allen
Rethinking The Rules Against Corporate Privacy Rights: Some Conceptual Quandries For The Common Law, Anita L. Allen
All Faculty Scholarship
No abstract provided.
The Economics And Jurisprudence Of Convertible Bonds, William W. Bratton
The Economics And Jurisprudence Of Convertible Bonds, William W. Bratton
All Faculty Scholarship
Professor Bratton examines judicial regulation of issuer-bondholder conflicts of interest within three different, but closely related doctrinal frameworks: neoclassical contract interpretation; contract avoidance; and corporate law fiduciary restraint. After discussing the elements of convertible bond valuation and their interaction with issuer actions giving rise to conflicts of interest, he evaluates the case for judicial intervention to protect bondholder interests. He concludes that ·bondholder protective intervention is fair and tolerably efficient, provided it is kept within the bounds of contract interpretation. But he finds that more aggressive judicial intervention under the frameworks of contract avoidance and fiduciary restraint carries an unnecessary …