Business Commons^™

Dentistry And The Law: Taking Records When Leaving A Practice, Dan Schulte Jd

The Journal of the Michigan Dental Association

MDA Legal Counsel Dan Schulte advises on departing partner issues: without contracts, disputes arise regarding records, patient ownership, and practice buyout. Employment and shareholder agreements ensure orderly transitions and protect practice interests. Patient records legally belong to the practice, and transferring them without consent violates laws. Patients can request records, but fees apply. Schulte stresses the importance of agreements to avoid costly disputes and ensure continuity of care.

Stopping Runs In The Digital Era, Luís C. Calderón Gómez

Articles

Bank runs, and the financial crises they catalyze and amplify, are incredibly costly-to individuals, families, society, and the economy writ large. Banking regulation has, for the most part, protected us from traditional bank runs for the last ninety years. However, as we saw in the devastating 2008 financial crisis, bank runs can still occur in lightly regulated or opaque segments of the financial sector.

The recent crypto market downturn dramatically forewarned regulators of the potential and significant risks that novel assets could pose to our financial system's stability. In particular, a novel, systemically important asset (stablecoins) revealed its vulnerability to …

Following The Crowd: Beginners Investors Guide To The Options Market, Jeremy Dawkins, Alexy Morris, Jacob Gipson, Masoud Valizadeh

SMU Data Science Review

While the options market may be intimidating for a beginner, having the right tools can help improve the outcome of their investments. This project aims to develop a tool that uses time-series analysis and forecasting to model the future demand of S&P 500 and AAPL options contracts. The open interest of these contracts will be analyzed using various models such as AR, ARIMA, Neural Networks, and VAR, along with the put-call ratio. The goal is not to make buy or sell recommendations, but alert the user when money is flowing into a security or index. Of all the models, the …

Misreading Menetti: The Case Does Not Help You Avoid Liability For Your Own Fraud, Val D. Ricks

St. Mary's Law Journal

Several decades ago, an incorrect legal idea surfaced in Texas jurisprudence: that business entity actors are immune from liability for fraud that they themselves commit, as if the entity is solely responsible. Though the Supreme Court of Texas has rejected that result several times, it keeps coming back. The most recent manifestation is as a construction of Texas’s unique veil-piercing statute. Many lawyers have suggested that this view of the veil-piercing statute originated in Menetti v. Chavers, a San Antonio Court of Appeals case decided in 1998. Menetti has in fact played a prominent role in the movement to …

Managing Value Added Tax Issues In Indonesian Business Entities Post-Ifrs 15 Adoption, Prianto Budi Saptono, Ismail Khozen

BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi

This study analyzes challenges related to value-added tax (VAT) transactions in Indonesia following the convergence of International Financial Reporting Standards 15 (IFRS 15) into Statements of Financial Accounting Standards 72 (SFAS or "PSAK" 72). This study took a qualitative method, combining document abstraction from the literature with in-depth interviews with key informants selected purposively. This study provides an overview of the characteristics of transfer of control under PSAK 72 and the time of supply under the VAT Law. It is unavoidable that the two approaches go different paths. This study suggests that businesses in Indonesia revise the contract terms with …

Leases As Forms, David A. Hoffman, Anton Strezhnev

All Faculty Scholarship

We offer the first large scale descriptive study of residential leases, based on a dataset of ~170,000 residential leases filed in support of over ~200,000 Philadelphia eviction proceedings from 2005 through 2019. These leases are highly likely to contain unenforceable terms, and their pro-landlord tilt has increased sharply over time. Matching leases with individual tenant characteristics, we show that unlawful terms are surprisingly likely to be associated with more expensive leaseholds in richer, whiter parts of the city. This result is linked to landlords' growing adoption of shared forms, originally created by non-profit landlord associations, and more recently available online …

Key Strategies Used To Mitigate Business Risk When Managing Offshore Outsourcing, Lauren Stewart

Walden Dissertations and Doctoral Studies

Ineffective risk management strategies can cause negative consequences to an organization’s business processes and operational costs. When engaging in offshore outsourcing, Organizational leaders who lack effective risk management strategies encounter negative customer experiences, interrupted business processes, wasteful resources, and increased operational costs. Grounded in the resource-based view theory, the purpose of the qualitative multiple case study was to explore strategies used to mitigate business risk when managing offshore outsourcing. Four outsourcing professionals in the information technology and consulting sectors who successfully managed risks during offshore outsourcing participated in the study. Data sources were semistructured interviews and a review of publicly …

When Standards Collide With Intellectual Property: Teaching About Standard Setting Organizations, Technology, And Microsoft V. Motorola, Cynthia L. Dahl

All Faculty Scholarship

Technology lawyers, intellectual property (IP) lawyers, or even any corporate lawyer with technology clients must understand standard essential patents (SEPs) and how their licensing works to effectively counsel their clients. Whether the client’s technology is adopted into a voluntary standard or not may be the most important factor in determining whether the company succeeds or is left behind in the market. Yet even though understanding SEPs is critical to a technology or IP practice, voluntary standards and specifically SEPs are generally not taught in law school.

This article aims to address this deficiency and create more practice-ready law school graduates. …

Loyalty Loses Ground To Market Freedom In The U.S. Supreme Court, Daniel Harris

William & Mary Business Law Review

In the last decade, the U.S. Supreme Court has taken a much less moralistic and much more market-oriented approach to questions of fiduciary loyalty. In cases involving fiduciaries with conflicts of interest, the Court has shifted the burden of proof to the party claiming unfair treatment, thereby protecting deals and making loyalty harder to enforce. The Court has also struck down or narrowly construed laws designed to prevent disloyalty by fiduciaries on the theory that broad prohibitions on business conduct encroach on constitutionally protected freedoms.

This Article discusses how the Supreme Court’s new approach represents a departure from the Court’s …

Decoding Smart Contracts: Technology, Legitimacy, & Legislative Uniformity, Jared Arcari

Fordham Journal of Corporate & Financial Law

Blockchain technology is increasingly permeating the everyday lives of countless people. Applications of the cutting-edge technology range from secured banking to tracking mortgage titles. A particular blockchain technology, dubbed “smart contracts,” has the potential to revolutionize how individuals and companies securely contract with each other. Smart contracts, however, are not widely employed, mainly because potential users are uncertain of their enforceability as contracts under existing state contract laws. Similar skepticism slowed the acceptance of electronic signatures in the late 1990s, but was resolved ultimately through a model uniform act recognizing electronic signatures’ effectiveness across interstate borders. This Note proposes a …

Análisis, Costo Beneficio De La Implementación De La Agricultura Por Contrato Como Solución A La Productividad De Los Cultivos De Papa En El Municipio De Soracá–Boyacá, Edwin Guillermo Pinilla Bejarano, Nathalie Stressy Peña Gómez, Jhon Alexander Vélez Ruíz

Economía

En Colombia la agricultura por contrato no es considerada como un mecanismo importante para el desarrollo del sector agrícola, para esta investigación se aborda la problemática que tienen los agricultores de la actividad papera del municipio de Soracá-Boyacá asociados a la Cooperativa Integral de Colombia – Cooimpacol, quienes no contaban con contratos establecidos con la industria que garantizaran la venta fija de la cosecha de papa, lo que les generaba pérdidas con altos costos de producción donde se beneficiaban los intermediarios, para ello se busca ¿determinar si la agricultura por contrato mejora la producción de la actividad papera en el …

Supply Chain Contracts, Coordination, And Ego Networks. A Research Proposal, Torsten Doering, Max Winterburn

Articles & Book Chapters

The potential of interest alignment between independent firms through supply chain contracts (SCC)is not fully utilized. An exhausting amount of analytical research indicates advantages of SCCs, buttheir use in practice is limited (Cachon, 2003). This article aims to illuminate the purpose of supply chain specific contracts as an interorganizational coordination tool, as seen through the lens of organizational theory. The central question of this study relates to the conditions and antecedents of supply chain contract use, with an emphasis on vertical dyadic and secondary horizontal links between companies in a supply chain. A review shows that this topic can benefit …

Competitive Strategies Of Minority-Owned Small Businesses.Pdf, Peter Smith

Peter Smith

Small And Medium-Sized Enterprises Obtaining Public Procurement Contract Awards, Asha Mcglashan

Walden Dissertations and Doctoral Studies

The dominance of federal and state contracts by large enterprises reduces the share of contracts small and medium-sized enterprises' (SMEs) business leaders obtain. As of the last census reading in 2016, SMEs received only 23% of contracts. The purpose of this multiple case study was to explore the strategies of 3 small business leaders, operating in south Florida, for obtaining state contracts through public procurement. The thematic findings were in the context of the principal-agent theory as the conceptual framework. The participants answered 10 questions in semistructured interviews and provided organizational procurement documents for review. The methodological triangulation of multiple …

A Case Of Motivated Cultural Cognition: China's Normative Arbitration Of International Business Disputes, Pat K. Chew

Articles

The centuries-old conception of judges and arbitrators as highly predictable and objective is being dismantled. In its place, a much more textured, complicated, and challenging understanding of legal decision-making is being constructed. New research on “Motivated Cognition” demonstrates that judges and arbitrators are more human than mechanical, pouring themselves – and the cultural and institutional contexts within which they act – into their decision making. This article extends the emerging model of Motivated Cultural Cognition, a form of Motivated Cognition, to the global stage, investigating arbitration of business disputes between two world-powers: United States and China. Through a first-of-its-kind empirical …

Relational Contracts Of Adhesion, David A. Hoffman

All Faculty Scholarship

Not all digital fine print exculpates liability: some exhorts users to perform before the consumer relationship has soured. We promise to choose strong passwords (and hold them private); to behave civilly on social networks; to refrain from streaming shows and sports; and to avoid reverse-engineering code (or, worse, deploying deadly bots). In short: consumers are apparently regulated by digital fine print, though it’s universally assumed we don’t read it, and even if we did, we’ll never be sued for failing to perform.

On reflection, this ordinary phenomenon is perplexing. Why would firms persist in deploying uncommunicative behavioral spurs? The conventional …

Bankruptcy’S Uneasy Shift To A Contract Paradigm, David A. Skeel Jr., George Triantis

All Faculty Scholarship

The most dramatic development in twenty-first century bankruptcy practice has been the increasing use of contracts to shape the bankruptcy process. To explain the new contract paradigm—our principal objective in this Article-- we begin by examining the structure of current bankruptcy law. Although the Bankruptcy Code of 1978 has long been viewed as mandatory, its voting and cramdown rules, among others, invite considerable contracting. The emerging paradigm is asymmetric, however. While the Code and bankruptcy practice allow for ex post contracting, ex ante contracts are viewed with suspicion.

We next use contract theory to assess the two modes of contracting. …

Amending Corporate Charters And Bylaws, Albert H. Choi, Geeyoung Min

All Faculty Scholarship

Recently, courts have embraced the contractarian theory that corporate charters and bylaws constitute a “contract” between the shareholders and the corporation and have been more willing to uphold bylaws unilaterally adopted by the directors. This paper examines the contractarian theory by drawing a parallel between amending charters and bylaws, on the one hand, and amending contracts, on the other. In particular, the paper compares the right to unilaterally amend corporate bylaws with the right to unilaterally modify contract terms, and highlights how contract law imposes various limitations on the modifying party’s discretion. More generally, when the relationship of contracting parties …

Enforcing Corporate Social Responsibility Codes Under Private Law: On The Disciplining Power Of Legal Doctrine, Jan M. Smits

Indiana Journal of Global Legal Studies

A central question in the debate on corporate social responsibility is to what extent CSR codes can be enforced among private parties. This contribution argues that this question is best answered by reference to the applicable doctrinal legal system. Such a doctrinal approach has recently regained importance in American scholarship, while it is still the prevailing method of legal analysis in Europe. Applying a doctrinal analysis of CSR codes allows for the possibility of private law enforcement, that is, enforcement by means of contract or tort, dependent on three different elements: the exact type of claim that is brought, the …

Small Business Participation In Federal Set-Aside Contracting, Steven R. King

Walden Dissertations and Doctoral Studies

In the United States, 99.9% of small businesses, which account for two-thirds of new jobs annually, do not participate in the federal set-aside program. Half of all small businesses will not survive their first 5 years. The purpose of this multiple case study was to explore strategies that U.S. small business leaders operating within the greater Colorado Springs metro area used to participate successfully in the federal contracting set-aside program. Von Bertalanffy's systems theory grounded the study. Data collection included semistructured interviews with an intensity purposeful sampling of 3 small business leaders participating successfully in the federal contracting set-aside program …

Opening The Red Door To Chinese Arbitrations: An Empirical Analysis Of Cietac Cases (1990-2000), Pat K. Chew

Articles

This article reveals evidence-based details of the China International Economic and Trade Arbitration Commission (CIETAC) arbitral proceedings (1990-2000), allowing unprecedented insights into Chinese international business arbitration. It begins by confirming the prominence of Chinese foreign trade and foreign investment in the global economy and CIETAC’s critical role in securing that prominence. Among other results, the empirical study of CIETAC awards finds: (i) the parties were of diverse nationalities, most commonly with disputes between a Chinese party and a foreign party; and (ii) the majority of cases were sales and trade disputes, although a sizable number were investment/joint venture disputes. Regarding …

In Defense Of The Restatement Of Liability Insurance Law, Tom Baker, Kyle D. Logue

All Faculty Scholarship

For most non-contractual legal claims for damages that are brought against individuals or firms, there is some form of liability insurance coverage. The Restatement of the Law Liability Insurance is the American Law Institute’s first effort to “restate” the common law governing such liability insurance policies, and we are the reporters. In a recent essay funded by the insurance industry, Yale Law Professor George Priest launched a strident critique of the Restatement project, arguing that the rules adopted in the Restatement:

(a) are radically contrary to existing case law,

(b) have a naïve “pro-policyholder” bias that ignores basic economic insights …

Gerard Family Papers (Mss 577), Manuscripts & Folklife Archives

MSS Finding Aids

Finding aid only for Manuscripts Collection 577. Funeral records, correspondence, account books and other financial papers related to various undertaking establishments run by the Gerard and Bradley families, including Gerard and Gerard Funeral Home, Eugene Gerard Company Mortuary and the Gerard and Bradley Funeral Chapel in Bowling Green, Kentucky. Also includes financial records related to an earlier furniture making business operated by John C. Gerard, a French immigrant.

College Football Coaches’ Pay And Contracts: Are They Overpaid And Unfairly Treated?􀀃, Randall Thomas, Lawrence Van Horn

Indiana Law Journal

College football coaches’ employment contracts and compensation garner public attention and scrutiny in much the same way as those of corporate CEOs. In both cases, the public perception is that they must be overpaid and pampered. Economic theory claims that for coaches and CEOs to be overpaid, they must be receiving compensation in excess of the value they create for their organizations. However, both receive pay-for-performance compensation, which structurally aligns their compensation with value creation. This means we need to examine the underlying structure of the contract that gives rise to the observed compensation to determine whether they are appropriately …

Good-Cause Statutes Revisited: An Empirical Assessment, Adi Ayal, Uri Benoliel

Indiana Law Journal

One of the most vital debates in franchise law focuses on whether state or federal law should adopt “good-cause statutes” (GCSs), which require franchisors to show good cause before terminating contractual relations with a franchisee. The traditional law-and-economics analysis suggests that GCSs are inefficient. This inefficiency argument is based upon one central hypothesis: GCSs increase franchisee free riding since they limit the franchisor’s ability to terminate the franchise contract easily. The free-riding hypothesis has been significantly influential in the development of franchise law, as is evident in state and federal statutory regimes. To date, the majority of states and the …

New York State Teacher Salary Report, Alexander Colvin, Sally Klingel, Simon Boehme, Susanne Donovan

Alexander Colvin

Teachers are central to the success of any education system and the salaries paid to teachers are among the most important issues for both school districts and the unions that represent teachers. For school districts, teacher salaries are a major com- ponent of district budgets. Teacher salary levels are also a crucial factor in attracting and retaining quality educators. This report presents data on teacher salary levels based on teacher contracts throughout New York State. In addition to reporting overall statewide salary levels, it also documents the wide variation in teacher salary levels across New York State. This New York …

Examples And Explanations: Sales And Leases 7th Ed., James Brook

Books

This book is an approachable and practical study guide to sales law, specifically UCC Articles 2 and 2A, providing brief textual introductions to standard definitions and concepts, followed by provocative examples, questions, and analyses.

Relying on the standard examples-and-explanation pedagogy, Sales and Leases: Examples & Explanations is an accessible, clearly written study guide for any student studying sales law, commercial law, commercial transactions law and contract law.

It gives you an organized way of working through the various sections, definitions, concepts, and controversies that make up the modern law of sales and lease of goods as rendered in Article 2 …

Meeting Summary Of Colloquium On Policy, Law, Contracts, And Sustainable Development, Columbia Center On Sustainable Investment

Columbia Center on Sustainable Investment Staff Publications

In November 2014, CCSI and the Institute for Human Rights and Business co-convened a colloquium on policy, law, contracts, and sustainable development, with a particular focus on large-scale investments in the extractive industries and the agriculture sector. The colloquium provided an opportunity for practitioners to share information on their related work, as well as to reflect on current practices and remaining gaps regarding efforts to embed sustainability and human rights into large-scale deals. This outcome document provides a summary of the discussion, while its annex includes information on participants’ relevant programs, initiatives, and tools.

Fiduciary Discretion, D. Gordon Smith, Jordan C. Lee

Faculty Scholarship

Discretion is an important feature of all contractual relationships. In this Article, we rely on incomplete contract theory to motivate our study of discretion, with particular attention to fiduciary relationships. We make two contributions to the substantial literature on fiduciary law. First, we describe the role of fiduciary law as “boundary enforcement,” and we urge courts to honor the appropriate exercise of discretion by fiduciaries, even when the beneficiary or the judge might perceive a preferable action after the fact. Second, we answer the question, how should a court define the boundaries of fiduciary discretion? We observe that courts often …

Lessons From The Nba Lockout: Union Democracy, Public Support, And The Folly Of The National Basketball Players Association, Matthew J. Parlow

Matthew Parlow