Law Commons^™

Institutions, Incentives, And Consumer Bankruptcy Reform, Todd Zywicki

George Mason University School of Law Working Papers Series

Consumer bankruptcy filing rates have soared during the past 25 years. From 225,000 filings in 1979, consumer bankruptcies topped 1.5 million during 2004. This relentless upward trend is striking in light of the generally high prosperity, low interest rates, and low unemployment during that period. This anomaly of ever-upward bankruptcy filing rates during a period of economic prosperity had spurred calls to reform the Bankruptcy Code to place new conditions on bankruptcy relief. Although bankruptcy reform has drawn broad bipartisan support on Capitol Hill, these proposals have proven controversial within the academy. Critics have argued that these reforms are unnecessary …

Global Credit Card Use And Debt: Policy Issues And Regulatory Responses, Ronald J. Mann

ExpressO

The rise of card-based payments has transformed the landscape of payments in the last half century, from one dominated by government-supported paper-based payments to one dominated by wholly private systems. The rise of those payments presents a number of policy problems, the most serious of which is the empirically demonstrable likelihood that use of the cards contributes to an undue level of consumer credit and that borrowing on the cards contributes to a rise in the level of consumer bankruptcy. Although the existing pattern shows great variation from country to country, regulators should take no solace in those variations. Building …

The False Promise Of De-Regulation In Banking, Jonathan R. Macey

ExpressO

Jonathan R. Macey

The False Promise of De-Regulation in Banking

Abstract

This Article presents new approach to the concept of "deregulation" in financial services and particularly banking. Generally regulatory policy is thought to involve more or less straightforward choices between regulation and deregulation. Those most concerned with market failure and equality of outcomes favoring regulation and those with faith in markets and concerns about efficient outcomes favoring deregulation.

This Article shows that government regulation, sometimes in heavy doses, is necessary in order for private markets to function effectively. Consequently, government has in important role to play in fostering markets. The …

Peggy J. Blair On Commercial Law And Human Rights Edited By Stephen Bottomley And David Kinley. Burlington, Vt: Ashgate, 2001. 356pp., Peggy J. Blair

Human Rights & Human Welfare

A review of:

Commercial Law and Human Rights edited by Stephen Bottomley and David Kinley. Burlington, VT: Ashgate, 2001. 356pp.

Salvaging States' Rights To Protect Children From Internet Predation: State Power To Regulate Internet Activity Under The Dormant Commerce Clause, Julie Sorenson Stanger

BYU Law Review

No abstract provided.

Limiting The Vicarious Liability Of Franchisors For The Torts Of Their Franchisees, Joseph H. King, Jr.

Washington and Lee Law Review

No abstract provided.

The Missing Preferred Return, Victor Fleischer

ExpressO

Managers of buyout funds typically offer their investors an 8% preferred return on their investment before they take a share of any additional profits. Venture capitalists, on the other hand, rarely offer a preferred return. Instead, VCs take their cut from the first dollar of nominal profits. This disparity between venture funds and buyout funds is especially striking because the contracts that determine fund organization and compensation are otherwise very similar. The missing preferred return might suggest that agency costs pose a larger problem in venture capital than previously thought. Is the missing preferred return evidence, perhaps, that VCs are …

Contingency And Contracts: A Philosophy Of Complex Business Transactions, Jeffrey Marc Lipshaw

ExpressO

In this article, I argue that the prevailing literature on contract theory does not adequately address the way real-world lawyers address uncertainty in complex business transactions. I attribute this to the constraints imposed by thinking in legal models, the dominant tendency to turn to economics for analysis and normative prescription, and the focus on adjudicative issues of hindsight interpretation. Commercial uncertainty, and the law’s response to it, is only a subset of the broader philosophical issue of contingency. As an alternative to prevailing thought, I trace philosophical approaches to contingency, utility and morality that have come down to us since …

Party Autonomy In Choice Of Commercial Law: The Failure Of Revised U.C.C. § 1-301 And A Proposal For Broader Reform, Jack M. Graves

Scholarly Works

No abstract provided.

Is The Contractor More Secure With A Priority Right? A Functional Analysis Of Article 286 Of Prc Contract Law (Chinese Version), Wei Zhang

Wei Zhang

No abstract provided.

Is The Contractor More Secure With A Priority Right? A Functional Analysis Of Article 286 Of Prc Contract Law (English Version), Wei Zhang

Wei Zhang

No abstract provided.

Judicial Knowledge System’S Reproduction Of Supreme Court：To The Judicial Process Of Economic Regulation,For Example（最高法院司法知识体制再生产──以最高法院规制经济的司法过程为例）, Meng Hou

Hou Meng

No abstract provided.

El Fiduciario Como Accionista: A Propósito De La Resolución 820/2005 De La Inspección General De Justicia, Martin Paolantonio

Martin Paolantonio

Análisis crítico de la posición de la Inspección General de Justicia respecto del accionista fiduciario

The Seller's Right To Cure A Failure To Perform In International Sales, Jonathan Yovel

Jonathan Yovel

The right of a defaulting party to cure a non-performance under the condition that such cure does not create any – or at least any excessive – hardship for the aggrieved party, correlated by the aggrieved party’s obligation to receive such curative performance, has emerged as the single most innovative contribution of the Uniform Commercial Code to sales law in general. However, in comparative perspective the cure doctrine is by no means universal nor uniform. This study offers a construction of the meaning of contractual cure and in particular its relation to the aggrieved party’s power to terminate the contract …

The Syracuse Conference On A World Rule Of Law: American Perspectives An Introduction, Malcolm M. Feeley

Syracuse Journal of International Law and Commerce

The working group was charged with exploring virtually all facets of democracy and the rule of law, as they pertain to established constitutional democracies, societies undergoing "transitions to constitutional democracies," and those societies where democracy remains little more than a hopeful wish. Papers and much of the discussion during the two days probed beneath the structural formalities that are obvious and important requisites of democracy, to explore the subtexts of and cultural conditions for democracy and the rule of law, those features that may be so taken-for-granted that they usually go unacknowledged, let alone unexplored in discussion of democratic theory. …

Democratic Norms And Regional Stability Panel Deiscussion: An Introduction, David S. Berry

Syracuse Journal of International Law and Commerce

The following three brief articles raise and address fundamental questions about the role of democracy at the regional and international levels. They examine the current status of democracy and the suggested "right to democracy" at international law, particularly in the Americas context. Developed from papers presented at a panel entitled "Democratic Norms and Regional Stability: Global Challenges and Responses in the Americas," these three pieces examine the current role of democracy in the region, including the role of the Inter-American Democratic Charter. The latter document, paralleled by provisions in the Charter of the Organization of American States and resolutions of …

A Quick Look At The Inter-American Democratic Charter Of The Oas: What Is It And Is It "Legal"?, Timothy D. Rudy

Syracuse Journal of International Law and Commerce

This article briefly discusses the Democratic Charter-its creation, its perhaps murky legal status, and Chapter IV. But I have added new developments that took place after the ASIL meeting which further indicate the Democratic Charter represents an important expression of the progressive development of international law. Democratic government is required for every country in the Western Hemisphere. 8 But the Democratic Charter takes this internal domestic right and establishes it as an external collective right as well. The first article of the Democratic Charter clearly states that it is "[t]he peoples of the Americas [who] have a right to democracy …

The Oas And Constitutionalism: Lessons From Recent West African Experience, Stephen J. Schnably

Syracuse Journal of International Law and Commerce

The Inter-American Democratic Charter commits the OAS to respond to "an unconstitutional alteration of the constitutional regime that seriously impairs the democratic order in a member state." The Declaration of Florida envisions the possibility of an OAS mechanism to "address[] situations that might affect the workings of the political process of democratic institutions or the legitimate exercise of power." Other organizations have similar commitments. MERCOSUR, a free trade association among several South American nations, agreed in 1996 to respond to any "interruption in the democratic order" of its members or associates. The Organization of African Unity formally bound itself in …

Exercising Their Rights: Native American Nations Of The United States Enhancing Political Sovereignty Through Ratification Of The Rome Statute, Kristoffer P. Kiefer

Syracuse Journal of International Law and Commerce

The Rome Statute for the International Criminal Court (ICC) provides an ideal opportunity for Native American nations to begin attaining the rights and protections they have sought from the U.S. Government. Essentially, ratification would establish a legal relationship between Native American tribal governments and the ICC, as an international body, permitting Native American nations to interact independently with international organizations and States. Native Americans could help lay the foundation for establishing international legal personality-something previously denied by the United Nations (U.N.)-through ratification. In tum Native Americans would place pressure on the United States Government to recognize their political sovereignty. The …

Reflecting On The Rule Of Law, Its Reciprocal Relation With Rights, Legitimacy And Other Concepts And Institutions, Samuel J.M. Donnelly

Syracuse Journal of International Law and Commerce

When bringing social science to the study of law, understanding the role of law in the process of social change is central. The great American example of social change influenced by law begins, of course, with the end of our Civil War, the freeing of the slaves, and continues through the establishment of segregation, the attacks upon it, desegregation and the development of affirmative action. May I suggest that another very important sequence of legal and social changes is the development and recognition of human rights in the European Union since · World War 11. In the first part of …

Corporate Governance Changes In The Two Largest Economies: What's Happening In The U.S. And Japan?, Makoto Toda, William Mccarty

Syracuse Journal of International Law and Commerce

Lawmakers in the world's two largest economies, the United States and Japan, have enacted legislation to require firms to at least consider altering their governance structure. In the United States, the 2002 Sarbanes-Oxley Act (SOX) and Securities and Exchange Commission (SEC) rules have led to revised governance structures at the 30 Dow Jones (DJ) companies. The governance changes affect the composition, size and functions of the board of directors and its relations with the chief executive officer (CEO). A 2003 change in the Japanese Commercial Code provided firms with three governance options, including a "Company with Committees" system similar to …

Rethinking Multinational Corporate Governance In Extractive Industries, Matthew Nick

Vanderbilt Journal of Transnational Law

The oil and natural gas reserves under the Caspian Sea have sparked the interest of international investors and oil firms. The political, economic, and social turmoil in the five countries bordering the Caspian Sea, however, pose significant challenges for effective regulation of multinational interaction with the five Caspian states. A joint-effort approach to regulation involving the World Bank, multinational enterprises, and the individual Caspian states' governments poses the most functional and efficient means of instituting international oversight. Such a tripartite structure connects the fortunes of all the parties and provides safeguards against default by any single entity. A mutually beneficial …

From St. Ives To Cyberspace: The Modern Distortion Of The Medieval 'Law Merchant', Stephen E. Sachs

American University International Law Review

No abstract provided.

Contracting Spyware By Contract, Jane K. Winn

Articles

The question of what constitutes "spyware" is controversial because many programs that are adware in the eyes of their distributors may be perceived as spyware in the eyes of the end user. Many of these programs are loaded on the computers of end users after the end user has agreed to the terms of a license presented in a click-through interface.

This paper analyzes whether it might be possible to reduce the volume of unwanted software loaded on end users' computers by applying contract law doctrine more strictly. Unwanted programs are often bundled with programs that the end user wants, …

Confederation-Era Discrimination Against Interstate Commerce And The Legitimacy Of The Dormant Commerce Clause Doctrine, Brannon P. Denning

Kentucky Law Journal

No abstract provided.

What Is Corporate Law's Place In Promoting Societal Welfare?: An Essay In Honor Of Professor William Klein, Randall Thomas

Vanderbilt Law School Faculty Publications

This is a short essay on what should be the fundamental criterion used to evaluate corporate law. I argue that the overall goal of good corporate law should be to assist private parties to create wealth for themselves and the economy in a manner that does not inflict uncompensated negative externalities upon third parties. Private businesses that produce goods and services should be encouraged by the state because creating greater wealth is generally beneficial to society. Corporate law can act as a helpful precondition for faster economic growth by protecting the parties' expectations, encouraging savings and investment, reducing transaction costs, …

Injunctions Against Liquidation In Trade Remedy Cases: A Petitioner's View, 39 J. Marshall L. Rev. 45 (2005), Jeffrey M. Telep

UIC Law Review

No abstract provided.

Erisa Stock Drop Cases: An Evolving Standard, 38 J. Marshall L. Rev. 889 (2005), Craig C. Martin, Elizabeth L. Fine

UIC Law Review

No abstract provided.

A New Approach To Corporate Choice Of Law, Jens Dammann

Vanderbilt Journal of Transnational Law

The state of incorporation doctrine, which now applies both in the United States and in the European Community, allows corporations to choose the state law governing their internal affairs by incorporating in the appropriate state. Most scholars believe that this freedom to choose benefits both shareholders and society as a whole. Against this background, an obvious question is whether the state of incorporation doctrine is really the most efficient way of granting corporations the right to choose. In this Article, the Author argues that while there are sound reasons for retaining the state of incorporation doctrine as one mechanism for …

The Importation Of Sexism: A Cost-Benefit Approach To The U.S.-South Korea Friendship, Commerce And Navigation Treaty, Jennifer D. Fease

Vanderbilt Journal of Transnational Law

The U.S.-South Korea Friendship, Commerce and Navigation Treaty was entered into by the signatory countries following World War II and governs the actions of corporations operating in a foreign country. One provision of the Treaty allows foreign corporations in the United States to choose executives "of their choice," arguably without regard to the statutory protections that the United States affords in the hiring process. In this Note, the Author contends that the U.S.-South Korea Friendship, Commerce and Navigation Treaty results in discrimination against women in the United States because South Korean employers tend to choose South Korean men to fill …