Law Commons^™

Volume 23 - Front Matter

DePaul Business & Commercial Law Journal

No abstract provided.

Beyond Comprehension: Why Tax Code Complexity Necessitates Irs Deference, Doron Narotzki, Tamir Shanan, Julianne Jones, Ori Barel, Yifat G. Ben-Yaakov, Tomer Surujon, Revital Yusupov, Or Haim Anidjar

UC Law Business Journal

This Article argues that deference to Internal Revenue Service (“IRS”) interpretations is essential for the effective interpretation of U.S. federal income tax law due to the technical demands inherent in this uniquely complex area. The U.S. federal income tax code, often considered one of the most intricate legal systems, consists of dense, specialized language, nuanced policy considerations, economic theories, and frequently updated provisions. Judges, as generalists, face a daunting challenge in interpreting this complex, ever-evolving body of law without the specialized expertise that the IRS professionals bring. Frequent amendments further add to this complexity, layering additional provisions that require in-depth …

Purpose And Nonprofit Enterprise, Cathy Hwang, Dorothy S. Lund

Faculty Scholarship

Nonprofit enterprise is responsible for a large share of economic activity across the globe. And yet, leading theories fail to explain why nonprofit business survives and even thrives across a vast number of industries, ranging from artificial intelligence to beer brewing, despite an absence of shareholder control. Indeed, as shareholder ownership and intervention rights have become the core component of successful corporate governance, this success is all the more surprising.

This Essay offers a novel “purposeful enterprise” theory to explain the puzzling success of nonprofit enterprises. Drawing on research in behavioral economics and organizational science, it argues that organizational purpose …

“For Whom The Bell Tolls”?* Is The Corporate Transparency Act Dead, And If Not, What Is Its Impact On Corporate Governance?, Kellen Ware

UC Law Business Journal

The Corporate Transparency Act (“CTA” or “the Act”) was enacted by Congress in 2021 to combat illicit financial activity through mandated beneficial ownership disclosure. While the current administration has opted not to enforce the CTA’s reporting requirements on domestic entities, the law remains in effect, and its future is uncertain amid ongoing constitutional litigation.

This Note argues that the CTA should be repealed, and state legislatures should refrain from mirroring the Act. The CTA creates undue burdens that threaten effective and efficient corporate governance in small businesses and many non-profits. This Note traces the contentious history of the CTA and …

Masthead

UC Law Business Journal

No abstract provided.

Foreword, Jonathan Engelmann, Audrey Nguyen

UC Law Business Journal

No abstract provided.

Shareholder Standoff: The Erosion Of Minority Protections In The Wake Of Sb21, Kiara R. Sims

UC Law Business Journal

No abstract provided.

The (Re)New(Ed) Corporation: Foundation For A Stakeholder Regulatory Agenda, Gregory E. Louis

UC Law Business Journal

Amidst an emerging bipartisan consensus on greater corporate social accountability, America First has joined longstanding solicitude about the racial wealth gap. This Article offers yet another take on corporate purpose. As a project of recovering legal memory like Adrian Vermeule’s common good constitutionalism, it examines scholarship on the history of corporate purpose toward answering whether stakeholder capitalism should inform corporate regulation and, if so, how. It concludes from this history that the Anglo-American legal tradition clearly justifies regulators to hold business corporations accountable to the common good. But it also finds in this history a requirement that stakeholder capitalism be …

A Critical Analysis Of Alternative Section 1031 Proximate-Exchange Structures, Bradley T. Borden

UC Law Business Journal

Taxpayers have six wins and zero losses in cases that grant nonrecognition to exchanges that occur in proximity to tax-free business transactions (contributions to and distributions from entities) of the exchanged property. Those six cases (the proximate-exchange cases) were decided between 1983 and 1989. From those cases emerged the proximate-exchange principle: “[a] trade of Property A for Property B, both of like kind, may be preceded by the tax-free acquisition of Property A at the front end, or succeeded by a tax-free transfer of Property B at the back end.”1 Despite the explicit declaration of the proximate-exchange principle and the …

Safeguarding Creditors' Interest In China's Debtor-In-Possession (Dip) Model: Enhancing Director Accountability For Effective Corporate Reorganization, Tianqi (Alicia) Ding

Brooklyn Journal of International Law

In recent years, China has increasingly adopted the Debtor-in-Possession (DIP) model in corporate reorganization, allowing directors to retain control of the debtor’s operations during bankruptcy proceedings. From 2019 to 2025, the use of the DIP model among listed companies rose substantially, reflecting a policy preference for efficiency, continuity of management, and the perceived advantages of director familiarity with business operations. While the DIP model may improve restructuring efficiency, it also concentrates decision-making power in directors who face limited personal accountability, thereby exposing creditors to heightened risk during insolvency. China’s existing legal framework inadequately addresses this risk. The Company Law defines …

Doktrin Penyalahgunaan Hak (Abus Des Droit), Syukron Salam

Jurnal Hukum & Pembangunan

The present article examines the emergence of the doctrine of abus de droit in France in the mid-twentieth century through an analysis of key judicial decisions and the debates that followed them. The study commences with an exposition of the manner in which the evolution of capitalism, concomitant with the escalating economic disparity and the propagation of societal challenges, has influenced the judicial approach to the abstract Roman-law tradition of absolute rights. In light of this, the article contends that the civil-law tradition exhibited a fundamental flaw in its conceptualisation of rights as absolute, thereby overlooking objections that were firmly …

Politik Hukum Kedudukan Wakil Presiden Dalam Badan Pengarah Percepatan Pembangunan Otonomi Khusus Papua, Maleakhi Samuel Pasalli, Yamuna Nurafifah, Pranaldo Gunawan

Jurnal Hukum & Pembangunan

The legal policy regarding the amendment of Law Number 21 of 2001 into Law Number 2 of 2021 concerning Special Autonomy for Papua marks a paradigm shift from asymmetric decentralization towards controlled autonomy or leading to the centralization of power, notably through the establishment of the Steering Committee for Acceleration of Development of Special Autonomy for Papua (BP3OKP), which is chaired directly by the Vice President. This research is motivated by juridical issues wherein the Academic Paper (Naskah Akademik) of the amendment fails to provide scientific justification regarding the urgency of establishing this special body or the involvement of the …

Welcome To The Bflr’S 7th Annual Fintech Issue, Nydia Remolina Leon, Alessio Azzuri, Virginia Torrie, Francisco Jose Ciancerta

Research Collection Yong Pung How School Of Law

This issue of the Banking and Finance Law Review is published at a moment of profound transformation in the FinTech regulatory landscape. Around the world, legislators, regulators, financial institutions, and scholars face the complex task of fostering technological innovation while addressing concerns over consumer and investor protection, data privacy and cybersecurity, market integrity, the prevention of financial crime, and overall stability of the financial system. At the same time, geopolitics is increasingly influencing the direction of FinTech policy and regulation, as states leverage financial infrastructure not only to modernize domestic markets but also to assert strategic influence globally. This convergence …

Building A Restructuring Hub: Lessons From Singapore, Aurelio Gurrea-Martinez

Research Collection Yong Pung How School Of Law

This article seeks to analyze the legal, market, and institutional features needed to become an international hub for debt restructuring. To that end, it examines the strategy adopted by Singapore as well as the market and institutional factors generally found in other leading legal and financial centers such as the United States, the United Kingdom, and Hong Kong. It is argued that in jurisdictions that have traditionally had creditor-oriented insolvency systems, such as Singapore, the United Kingdom, and Hong Kong, one of the primary challenges when enhancing the restructuring framework for debtors is ensuring that the insolvency system remains protective …

Torts And Pesticide Drift: Amending Right-To-Farm Acts In The Wake Of Widespread Dicamba Drift By Nicholas Brown** And Matt Roessing*

Journal of Legal Studies in Business

When crops die in a field prior to harvest, a farmer loses a portion of his salary for that year. When the cause of the crop loss is natural, farmers can usually seek compensation through crop insurance and government commodity support programs. When the crops were lost as a result of pesticide drift, these forms of compensation are not usually available to farmers.1 In order to make up for their losses, farmers can seek damages through judicial redress. For many decades, various state and federal laws have combined to complicate and at times prevent farmers adversely affected by pesticide drift …

Cover Page & Table Of Contents - Volume 23

Journal of Legal Studies in Business

JLSB vol. 23 Title Page & Table of Contents

Incorporating Tax Law Into Legal And Regulatory Environment Of Business Courses

Journal of Legal Studies in Business

No abstract provided.

Too Much, Too Little, Or Just Right? Beyond The Perception (Or Reality) Of Law School Rigor In Teaching Undergraduate Copyright Law

Journal of Legal Studies in Business

No abstract provided.

How Corporate Individualism Challenges Modern Tort Theory, Daniel Harris

University of Miami Business Law Review

According to the modern tort theory, that dominates in the legal academy, deep pocket entities that profit from facilitating harmful activity must compensate those foreseeably injured by that activity. The rationale is that allowing enterprises to externalize the costs they impose on others encourages excessively risky behavior. Therefore, cost internalization must be mandated to achieve the twin goals of tort law: compensation of tort victims and deterrence of potentially harmful conduct.

The thesis of this Article is that the academic model is misleading and incomplete. The concerns of the tort system are not limited to compensation and deterrence. Our legal …

The Cost Of Waiting: Navigating The Ftc’S Noncompete Ban And The Risks Of Inaction, Cameron Weiss

University of Miami Business Law Review

This Comment critically examines the Federal Trade Commission’s (FTC) now–abandoned rule that sought to ban noncompete clauses in employment contracts, emphasizing the limitations of advice provided by attorneys, legal scholars, and experts who advocate for a “wait–and–see” approach during its development and subsequent litigation. Noncompetes, while serving as a tool for employers to safeguard proprietary interests and limit competition, also restrict employee mobility and bargaining power. The FTC’s proposed rule, which aimed to ban most noncompete clauses, faced immediate and substantial legal challenges under the major questions and nondelegation doctrines.

Although the FTC ultimately ceased defending the rule and acceded …

Judicial Climate Governance: Corporate Purpose And The Courts, Hassan M. Ahmad, Ahmed R. Chowdhury

All Papers

With the existential threat of climate change, there is increased attention about the corporation's duty to maintain a healthy environment, particularly in light of the conventional shareholder primacy model of corporate purpose. This article proposes the idea of judicial climate governance. In the absence of robust legislative reforms that would obligate corporations to mitigate and even eliminate their inordinate climate impacts, in climate change litigation courts can and should render liability and compensation decisions that direct corporations towards a more stakeholder-friendly model of corporate purpose. To substantiate the need for judicial climate governance, this article canvasses and contextualizes the historical …

Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania, Peter Rabson Mziray

Journal of Humanities and Social Sciences

The current study investigates the relationship between noun classes and plant folk taxonomy in Chasu (G 22). The study focuses on two objectives: the first objective is to describe the plant folk taxonomy in Chasu and the second objective is to determine the relationship between noun classes and plant folk taxonomy in Chasu. Data were collected from rural villages in Same and Mwanga districts by using free listing, field interviews (jungle-walk-and-identify), and written texts containing Chasu plant names. The findings reveal that Chasu folk taxonomy reflects different ethnobotanical categories; including a unique beginner which is mmea/mimea ‘plant(s)’, and three life …

Exploring Business Law Careers: Paths, Practices, Perspectives, Cardozo Business Law Society, Cardozo Office Of Career Services

2025–2026 Flyers

No abstract provided.

International Investment Law And Sustainable Development - Friend Or Foe?, Barnali Choudhury

All Papers

Foreign direct investment (FDI) is widely regarded as a critical mechanism for achieving the Sustainable Development Goals (SDGs), yet the legal framework governing such investment often operates in tension with sustainability imperatives. This conference paper examines the complex relationship between international investment agreements (IIAs) and sustainable development and questions whether IIAs serve as instruments that promote or impede states’ pursuit of sustainability objectives. It argues that the structure and interpretation of IIAs, characterized by broad definitions and expansively worded standards of treatment as well as the use of investor–state dispute settlement (ISDS), have frequently constrained states’ regulatory autonomy, particularly in …

Toward Digital Corporate Law: Revisiting Corporate Law's Responses To Technology, Chen Wang, Ke Xu

William & Mary Business Law Review

This Article examines the dynamic relationship between emerging technologies and corporate law, raising fundamental questions about whether these technological advancements require reshaping traditional legal doctrines. It investigates key aspects of corporate law—including corporate formation, governance, and finance—through a comparative analysis of Chinese and U.S. legal frameworks. This Article critically assesses the ability of contemporary corporate law to respond effectively to technological challenges posed by artificial intelligence (AI), particularly in relation to evolving fiduciary duties of corporate agents and shifts in the balance of power between shareholders and management. Furthermore, this Article proposes innovative strategies for future corporate law development, advocating …

Book Review - Board-Shareholder Dialogue: Policy Debate, Legal Constraints And Best Practices Edited By Luca Enriques And Giovanni Strampelli, Cambridge, Cup, 2024, 574 Pp., £130.00 (Hardback) Isbn: 9781009360760, Martin Petrin

Articles & Book Chapters

No abstract provided.

Chimeric Contacts And Consent: The Ill-Reasoned Expansion Of Corporate Jurisdictional Exposure, James P. George

William & Mary Business Law Review

Two recent Supreme Court decisions have imposed aspects of general jurisdiction in a way that exposes corporations and possibly other legal actors to litigation in spuriously connected forums. One case—Ford Motor Company v. Montana—reached a fair result but with strained reasoning that will support unfair results. The second case—Mallory v. Norfolk Southern Railroad Company—was wrong on the facts and the law, imposing general jurisdiction based on a vaguely worded corporate registration statute validated by a more than century-old precedent based on Pennoyer v. Neff’s limited territorial model.

Both decisions were the result of conceptual corners …

Leaving Delaware? The Essential Role Of Specialized Corporate Courts, Zohar Goshen, Tomer S. Stein

Faculty Scholarship

Following the Delaware Court of Chancery’s invalidation of Elon Musk’s fifty-six- billion-dollar compensation package, Tesla moved its incorporation from Delaware to Texas. Shortly thereafter, Delaware’s legislature, seeking to protect Delaware’s dominant incorporation position, passed the most sweeping corporate law amendments in fifty years.

Both supporters of Musk and defenders of Delaware’s judiciary have accused each other of partisanship, but neither side has addressed the central question: What is the role of specialized corporate courts?

This Essay presents a novel theory of why such courts are necessary. Corporate disputes are distinct because they arise within ongoing relationships between shareholders and management, …

Competition, Comity, And Confusion: Reconciling The Ftaia’S Import Exclusion With Its Direct Effects Provision, Elliot Lam

Fordham Law Review

The debate surrounding the Sherman Act’s extraterritorial scope represents a tension between two competing objectives: protecting the U.S. economy from foreign anticompetitive conduct on one hand and respecting the sovereign authority of other nation-states on the other. Applying U.S. law abroad risks undermining sovereign authority by regulating foreign economies, though such regulation appears necessary in some cases to protect U.S. consumers.

Congress’s attempt to square these objectives through enacting the Foreign Trade Antitrust Improvements Act of 1982 (FTAIA) failed to settle the matter. The statute left courts with two new questions: how to distinguish “import” from “nonimport” commerce, and how …

Swiping Rights: Hidden Costs Of Hidden Laws, Rachel Landy

Articles

While many legal regimes have undergone fundamental shifts to account for the online economy, one lags behind: industry-specific mandatory contract rules. These rules, frequently buried in decades-old, nonintuitive statutes, are often overly prescriptive and come with draconian penalties, hampering the goals of entrepreneurship and impeding startup growth.

Much has been written about the intersection of regulation and entrepreneurship. But sparse attention has been paid to the unintended consequences on early-stage companies of more subtle regulatory interventions like contract rules — especially those with inconsistent or conflicting requirements among the states. This Article begins to fill that gap and uses as …