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Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. McCall 2015 University of Oklahoma College of Law

Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. Mccall

Brian M McCall

Many politicians and commentators agree that credit default swaps (CDS) played a significant role in the financial crisis of 2008. Yet, few who observe this role are aware that CDS were set loose on the economy by the federal pre-emption of thousands of years of public policy. Since the time of Aristotle law, philosophy and public policy have been hostile to gambling. Viewed as a socially unproductive zero sum wealth transfer, the law has generally refused to permit parties to use the courts to enforce wagers. Courts and legislatures worked in harmony to control and in some cases punish financial ...


Work Made For Hire – Analyzing The Multifactor Balancing Test, Ryan G. Vacca 2015 University of Akron

Work Made For Hire – Analyzing The Multifactor Balancing Test, Ryan G. Vacca

Akron Law Publications

Authorship, and hence, initial ownership of copyrighted works is oftentimes controlled by the 1976 Copyright Act’s work made for hire doctrine. This doctrine states that works created by employees within the scope of their employment result in the employer owning the copyright. One key determination in this analysis is whether the hired party is an employee or independent contractor. In 1989, the U.S. Supreme Court, in CCNV v. Reid, answered the question of how employees are distinguished from independent contractors by setting forth a list of factors courts should consider. Unfortunately, the Supreme Court did not give further ...


Why The State Cannot “Abolish Marriage” A Partial Defense Of Legal Marriage Based On The Structure Of Intimate Duties, Gregg Strauss 2015 Duke Law

Why The State Cannot “Abolish Marriage” A Partial Defense Of Legal Marriage Based On The Structure Of Intimate Duties, Gregg Strauss

Faculty Scholarship

Does a liberal state have a legitimate interest in defining the terms of intimate relationships? Recently, several scholars have answered this question “no” and concluded that the state should abolish marriage, along with all other categories of intimate status. While politically infeasible, these proposals offer a powerful thought experiment. In this Article, I use this thought experiment to argue that the law cannot avoid relying on intimate status norms and has legitimate reasons to retain an intimate status like marriage.

The argument has three parts. First, even if the law abolished licensed status categories, ordinary doctrines in tort, contract and ...


Work Made For Hire – Analyzing The Multifactor Balancing Test, Ryan G. Vacca 2015 University of Akron

Work Made For Hire – Analyzing The Multifactor Balancing Test, Ryan G. Vacca

Ryan G. Vacca

Authorship, and hence, initial ownership of copyrighted works is oftentimes controlled by the 1976 Copyright Act’s work made for hire doctrine. This doctrine states that works created by employees within the scope of their employment result in the employer owning the copyright. One key determination in this analysis is whether the hired party is an employee or independent contractor. In 1989, the U.S. Supreme Court, in CCNV v. Reid, answered the question of how employees are distinguished from independent contractors by setting forth a list of factors courts should consider. Unfortunately, the Supreme Court did not give further ...


The Corporate Conspiracy Vacuum (Formerly "Corporate Conspiracy: How Not Calling A Conspiracy A Conspiracy Is Warping The Law On Corporate Wrongdoing"), Josephine Sandler Nelson 2015 SelectedWorks

The Corporate Conspiracy Vacuum (Formerly "Corporate Conspiracy: How Not Calling A Conspiracy A Conspiracy Is Warping The Law On Corporate Wrongdoing"), Josephine Sandler Nelson

J.S. Nelson

The intracorporate conspiracy doctrine immunizes an enterprise and its agents from conspiracy prosecution based on the legal fiction that an enterprise and its agents are a single actor incapable of the meeting of two minds to form a conspiracy. The doctrine, however, misplaces incentives in contravention of agency law, criminal law, tort law, and public policy. As a result of this absence of accountability, harmful behavior is ordered and performed without consequences, and the victims of the behavior suffer without appropriate remedy.

The vacuum at the center of American conspiracy law has now warped the doctrines around it. Especially in ...


The Challenge Of Co-Religionist Commerce, Michael A. Helfand, Barak D. Richman 2015 Duke Law

The Challenge Of Co-Religionist Commerce, Michael A. Helfand, Barak D. Richman

Faculty Scholarship

This Article addresses the rise of “co-religionist commerce” in the United States — that is, the explosion of commercial dealings that take place between co-religionists who intend their transactions to achieve both commercial and religious objectives. To remain viable, co-religionist commerce requires all the legal support necessary to sustain all other commercial relationships. Contracts must be enforced, parties must be protected against torts, and disputes must be reliably adjudicated.

Under current constitutional doctrine, co-religionist commercial agreements must be translated into secular terminology if there are to be judicially enforced. However, religious goods and services often cannot be accurately translated without religious ...


Obstacles To Ph1n1 Vaccine Availability: The Complex Contracting Relationship Between Vaccine Manufacturers, Who, Donor And Beneficiary Governments, Sam Halabi 2015 University of Tulsa College of Law

Obstacles To Ph1n1 Vaccine Availability: The Complex Contracting Relationship Between Vaccine Manufacturers, Who, Donor And Beneficiary Governments, Sam Halabi

Sam Halabi

Vaccines are the most important line of defense to protect public health and the spread of disease during influenza pandemics. Yet the 2009 experience with pandemic H1N1 influenza showed that manufacturers, wealthy and poor governments were completely unprepared for the demands that global demand for vaccine production and distribution might impose. This chapter analyzes the failures of the system in 2009-10 with the aim of facilitating greater preparedness for future influenza pandemics.


Book Review: Uniform Sales Law: The U.N. Convention On Contracts For The International Sale Of Goods. Dr. Peter Schlechtriem, Manzsche Verlags - Und Universitatsbuchhandlung, Vienna 1986, Pp. 120., Michael C. Doland 2014 University of Georgia School of Law

Book Review: Uniform Sales Law: The U.N. Convention On Contracts For The International Sale Of Goods. Dr. Peter Schlechtriem, Manzsche Verlags - Und Universitatsbuchhandlung, Vienna 1986, Pp. 120., Michael C. Doland

Georgia Journal of International & Comparative Law

No abstract provided.


Book Review: Commentary On The International Sales Law. The 1980 Vienna Sales Convention. C.M. Bianca And M.J. Bonell Et Al. Milan, Italy: Guiffre 1987. Pp. 678 Plus Appendices And Index., Joseph J. Darby 2014 University of Georgia School of Law

Book Review: Commentary On The International Sales Law. The 1980 Vienna Sales Convention. C.M. Bianca And M.J. Bonell Et Al. Milan, Italy: Guiffre 1987. Pp. 678 Plus Appendices And Index., Joseph J. Darby

Georgia Journal of International & Comparative Law

No abstract provided.


Commercial Letters Of Confirmation In International Trade: Austrian, French, German And Swiss Law And Uniform Law Under The 1980 Sales Convention, Michael Esser 2014 University of Georgia School of Law

Commercial Letters Of Confirmation In International Trade: Austrian, French, German And Swiss Law And Uniform Law Under The 1980 Sales Convention, Michael Esser

Georgia Journal of International & Comparative Law

No abstract provided.


Forum Selling, Daniel M. Klerman, Greg Reilly 2014 BLR

Forum Selling, Daniel M. Klerman, Greg Reilly

University of Southern California Legal Studies Working Paper Series

Forum shopping is problematic because it may lead to forum selling. For diverse motives, such as prestige, local benefits, or re-election, some judges want to hear more cases. When plaintiffs have wide choice of forum, such judges have incentives to make the law more pro-plaintiff, because plaintiffs choose the court. While only a few judges may be motivated to attract more cases, their actions can have large effects, because their courts will attract a disproportionate share of cases. For example, judges in the Eastern District of Texas have distorted the rules and practices relating to case assignment, joinder, discovery, transfer ...


Dual Rationality Of Same-Sex Marriage: Creation Of New Rights In The Shadow Of Incomplete Contract Paradigm, Saby Ghoshray 2014 University of Massachusetts School of Law

Dual Rationality Of Same-Sex Marriage: Creation Of New Rights In The Shadow Of Incomplete Contract Paradigm, Saby Ghoshray

University of Massachusetts Law Review

In an effort to reconcile the inconsistency between liberal ideals and inequitable adjudication of marriage rights amongst our citizens, this article will seek answers to these issues. By straddling the contractual confines of marriage via law and economic analysis, Part II of the article explores the contractual paradigm of marriage to examine whether the framework is independent of sexual orientation and it the deliberately incomplete nature of marriage can provide consistencies for all types of marriages. Part III examines whether the private aspiration of marriage should necessarily be linked with public consequences by evaluating the impact of marriage’s social ...


Hollywood Deals: Soft Contracts For Hard Markets, Jonathan M. Barnett 2014 BLR

Hollywood Deals: Soft Contracts For Hard Markets, Jonathan M. Barnett

University of Southern California Legal Studies Working Paper Series

Hollywood film projects involving significant capital investments regularly proceed on the basis of unsigned “deal memos” or draft agreements with uncertain legal enforceability. These “soft contracts” constitute a hybrid instrument adapted to the transactional hazards of an environment in which neither formal contract nor reputation effects can adequately specify and enforce parties’ commitments at any reasonable cost. Uncertainly enforceable contracts embed an implicit termination and renegotiation option that provides flexibility to respond to changed circumstances while maintaining a threat of legal liability that provides some transactional security. Evidence collected from litigation records, trade press coverage and field interviews show that ...


Demand Promissory Notes And Commercial Loans: Balancing Freedom Of Contract & Good Faith, george A. Nation III 2014 SelectedWorks

Demand Promissory Notes And Commercial Loans: Balancing Freedom Of Contract & Good Faith, George A. Nation Iii

George A Nation III

Promissory notes are ubiquitous in commercial lending. The promissory note represents the borrowers promise to repay and is governed by the Uniform Commercial Code’s Article 3. Under Article 3, promissory notes are either demand instruments or time instruments. In general, the holder of a demand instrument may decide to demand payment at any time and for any reason, while the holder of a time note must wait for payment until the arrival of the specific repayment date or dates included in the note. For this reason, time notes usually contain an acceleration clause. An acceleration clause allows the holder ...


The Short Road Home To Delaware: Boilermakers Local 154 Retirement Fund V. Chevron, Anne M. Tucker 2014 Pepperdine University

The Short Road Home To Delaware: Boilermakers Local 154 Retirement Fund V. Chevron, Anne M. Tucker

The Journal of Business, Entrepreneurship & the Law

One of the biggest Delaware Supreme Court cases of 2013 wasn’t. The Delaware Court of Chancery opinion in Boilermakers Local 154 Retirement Fund v. Chevron Corp., upheld the enforceability of Delaware forum selection clause bylaws unilaterally adopted by corporate boards of directors. It was widely expected that the Delaware Supreme Court would uphold the Court of Chancery’s opinion. However, Plaintiffs dismissed their appeal and moved to dismiss their remaining claims in the Court of Chancery, leaving intact Chancellor Strine’s strong support of forum selection clauses. National Industries Group (Holding) v. Carlyle Investment Managements L.L.C. and ...


Las Relaciones Contractuales De Hecho Y El Contacto Social: ¿Instituciones Incomprendidas?, Renzo E. Saavedra Velazco 2014 Latin American and Caribbean Law and Economics Association

Las Relaciones Contractuales De Hecho Y El Contacto Social: ¿Instituciones Incomprendidas?, Renzo E. Saavedra Velazco

Renzo E. Saavedra Velazco

No abstract provided.


"Whimsy Little Contracts" With Unexpected Consequences: An Empirical Analysis Of Consumer Understanding Of Arbitration Agreements, Jeff Sovern, Elayne E. Greenberg, Paul F. Kirgis, Yuxiang Liu 2014 St. John's University School of Law

"Whimsy Little Contracts" With Unexpected Consequences: An Empirical Analysis Of Consumer Understanding Of Arbitration Agreements, Jeff Sovern, Elayne E. Greenberg, Paul F. Kirgis, Yuxiang Liu

Working Papers

Arbitration clauses have become ubiquitous in consumer contracts. These arbitration clauses require consumers to waive the constitutional right to a civil jury, access to court, and, increasingly, the procedural remedy of class representation. Because those rights cannot be divested without consent, the validity of arbitration agreements rests on the premise of consent. Consumers who do not want to arbitrate or waive their class rights can simply decline to purchase the products or services covered by an arbitration agreement. But the premise of consent is undermined if consumers do not understand the effect on their procedural rights of clicking a box ...


Empirical Analysis Of Legal Theory, Geoffrey P. Miller 2014 NELLCO

Empirical Analysis Of Legal Theory, Geoffrey P. Miller

New York University Law and Economics Working Papers

Empirical analysis of dispute resolution terms in commercial contracts provides information about theoretical issues in contract law. These clauses are adopted at a time when the parties share an interest in maximizing the value of the contract. The analyst can examine the pattern of contracting behavior and infer that the choices made by sophisticated parties will tend to represent efficient arrangements.


Even More Than You Wanted To Know About The Failures Of Disclosure, Florencia Marotta-Wurgler 2014 NELLCO

Even More Than You Wanted To Know About The Failures Of Disclosure, Florencia Marotta-Wurgler

New York University Law and Economics Working Papers

Nobody reads fine print—even when it matters. The most common regulatory approach to attenuate the (perceived) problem of non-readership has long been mandatory disclosure. Despite it’s theoretical appeal, disclosure has not been found to be fully effective in practice. In More Than You Wanted to Know: The Failure of Mandated Disclosure, Omri Ben-Shahar and Carl Schneider offer the first systematic critique of disclosure regulation in all of its forms, including the latest innovations. This essay reviews the book by focusing on two points. First, it offers fresh evidence on the failure of mandated disclosure by looking at changes ...


Can A Professional Limit Liability Contractually Under Florida Law?, John Terwilleger 2014 University of Florida Levin College of Law

Can A Professional Limit Liability Contractually Under Florida Law?, John Terwilleger

Florida Law Review

Florida law is currently unclear on the issue of whether a professional may rely upon a limitation of liability clause in a professional services contract. Limitation of liability clauses are common in business contracts, especially in construction, a field that includes many professionals such as engineers and architects. While Florida has historically enforced limitation of liability clauses in professional services contracts, recent cases have cast doubt on whether the clauses are enforceable. If the Florida Supreme Court establishes that professionals cannot rely upon these clauses, it will be taking a position contrary to the majority of states, including New York ...


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