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Articles 1 - 12 of 12
Full-Text Articles in Law
A Proposed Sec Cyber Data Disclosure Advisory Commission, Lawrence J. Trautman, Neal Newman
A Proposed Sec Cyber Data Disclosure Advisory Commission, Lawrence J. Trautman, Neal Newman
Faculty Scholarship
Constant cyber threats result in: intellectual property loss; data disruption; ransomware attacks; theft of valuable company intellectual property and sensitive customer information. During March 2022, The Securities and Exchange Commission (SEC) issued a proposed rule addressing Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, which requires: 1. Current reporting about material cybersecurity incidents; 2. Periodic disclosures about a registrant’s policies and procedures to identify and manage cybersecurity risks; 3. Management’s role in implementing cybersecurity policies and procedures; 4. Board of directors’ cybersecurity expertise, if any, and its oversight of cybersecurity risk; 5. Registrants to provide updates about previously reported cybersecurity …
Hostile Takeovers And Overreliance, Anthony Niblett
Hostile Takeovers And Overreliance, Anthony Niblett
Seattle University Law Review
Commentators have argued that employees should be compensated in the event of a hostile takeover; otherwise, the threat of such a takeover will fail to incentivize firm-specific investments by employees. Such deferred compensation is analogous to the payment of damages following a breach of contract. The analogous breach, here, is the breach of an implicit contract between management and employees. Employees trusted management to compensate them for firm-specific investments not explicitly contracted for. This Article uses a familiar result from the contract law literature: There is no measure of damages for breach of contract that can generate both efficient breach …
Penalty Clauses And The Cisg, Jack Graves
Penalty Clauses And The Cisg, Jack Graves
Scholarly Works
Commercial agreements often provide for “fixed sums” payable upon a specified breach. Such agreements are generally enforced in civil law jurisdictions. In contrast, the common law distinguishes between “liquidated damages” and “penalty” clauses, enforcing the former, while invalidating the latter as a penalty. The UN Convention on Contracts for the International Sale of Goods (CISG) does not directly address the payment of “fixed sums” as damages, and the validity of “penalty” clauses has, traditionally, been relegated to otherwise applicable domestic national law under CISG Article 4. This traditional orthodoxy has recently been challenged—suggesting that the fate of a penalty clause …
Moral Judgment And Moral Heuristics In Breach Of Contract, Tess Wilkinson-Ryan
Moral Judgment And Moral Heuristics In Breach Of Contract, Tess Wilkinson-Ryan
All Faculty Scholarship
Most people think that breaking a promise is immoral, and that a breach of contract is a kind of broken promise. However, the law does not explicitly recognize the moral context of breach of contract. Using a series of web-based questionnaires, we asked subjects to read breach of contract cases and answer questions about the legal, financial, and moral implications of each case. Our results suggest that people are quite sensitive to the moral dimensions of a breach of contract, especially the perceived intentions of the breacher. In the first study, we framed the motivation for a contractor's breach as …
Enforcing Contracts In Dysfunctional Legal Systems: The Close Relationship Between Public And Private Orders: A Repy To Mcmillan And Woodruff, Ariel Porat
Michigan Law Review
When the public order is dysfunctional, a private order for enforcing contracts will develop. In the absence of courts, transactors will seek ways to secure performance without recourse to legal sanctions. Social and economic sanctions imposed on the party in breach, whether by the aggrieved party or by the economic and social community in which both parties operate, replace legal sanctions. These sanctions sometimes arise within a private order functioning spontaneously, as when ongoing contractual relationships prevail between the parties, or when a close-knit economic or social community exists in which information concerning breaches of contract flows freely. In other …
Comments To The Reporters And Selected Members Of The Consultative Group, Restatement Of Torts (Third): Products Liability, Howard C. Klemme
Comments To The Reporters And Selected Members Of The Consultative Group, Restatement Of Torts (Third): Products Liability, Howard C. Klemme
Publications
No abstract provided.
Consequential Damages In Contracts For The International Sale Of Goods And The Legacy Of Hadley, Arthur Murphey
Consequential Damages In Contracts For The International Sale Of Goods And The Legacy Of Hadley, Arthur Murphey
Faculty Scholarship
No abstract provided.
Uniform Commercial Code Annual Survey: General Provisions, Sales, Bulk Transfers, And Documents Of Title, David Frisch
Uniform Commercial Code Annual Survey: General Provisions, Sales, Bulk Transfers, And Documents Of Title, David Frisch
Law Faculty Publications
On a number of issues arising under the Uniform Commercial Code (U.C.C. or Code), the courts have reached conflicting results, yet the number of jurisdictions passing on each such issue remains small. There is still time, then, for discussion of proper solutions of many of such Code issues. Of interest is the continuing judicial struggle with the intermesh of the Code's warranty provisions, the strict liability provisions of the Restatement Second of Torts, section 402A, and the burgeoning new crop of products liability statutes. The trend toward nuclear and computer problems is reflected in cases involving construction of nuclear plants, …
Government Contracts-Adoption Of Uniform Commercial Code As The Applicable Federal Law In An Action For Breach Of Government Contract-United States V. Wegematic Corp., Michigan Law Review
Government Contracts-Adoption Of Uniform Commercial Code As The Applicable Federal Law In An Action For Breach Of Government Contract-United States V. Wegematic Corp., Michigan Law Review
Michigan Law Review
Appellant contracted to supply the Federal Reserve Board with a "truly revolutionary" electronic digital computing system. After twice requesting postponement of the delivery date, appellant informed the Board that delivery under the terms of the contract would be impracticable because of unforeseen engineering difficulties that would require at least one year and one million dollars to overcome. Appellant asked for cancellation of the contract, but the Board refused and brought a suit for damages. Both parties conceded that federal law governed the action; appellant, however, argued that section 2-615 of the Uniform Commercial Code (Code) should be adopted as the …
Seller's Damages Following Resale Under Article Two Of The Uniform Commercial Code, Robert J. Nordstrom
Seller's Damages Following Resale Under Article Two Of The Uniform Commercial Code, Robert J. Nordstrom
Michigan Law Review
The seller's right to resell contracted-for goods following a breach by the buyer is set forth in section 2-706 of the Uniform Commercial Code (Code). That section also contains a statement of the conditions placed upon the exercise of that right and provides the measure of recovery if the resale is made "in good faith and in a commercially reasonable manner":
[T]he seller may recover the difference between the resale price and the contract price together with any incidental damages allowed under the provisions of this Article (Section 2-710), but less expenses saved in consequence of the buyer's breach.
In …
A Radical Restatement Of The Law Of Seller's Damages: Michigan Results Compared, Robert J. Harris
A Radical Restatement Of The Law Of Seller's Damages: Michigan Results Compared, Robert J. Harris
Michigan Law Review
Conventional doctrine does not address itself directly to the choice among valuation techniques, although the various parochial damage formulae give some clues. Underlying this series of articles is an assumption that the doctrine makes more sense when restated in valuation terms. These articles involve an effort to restate in such terms one sector of expectation damage law-the part that governs cases in which plaintiff is a "seller."
Restitution-Unjust Enrichment-Right Of Defaulting Purchaser To Recover Part Payment, Theodore J. St. Antoine S.Ed.
Restitution-Unjust Enrichment-Right Of Defaulting Purchaser To Recover Part Payment, Theodore J. St. Antoine S.Ed.
Michigan Law Review
Plaintiff made a prepayment of $59,946.67, or twenty-five percent, on twenty printing presses which it was purchasing for shipment to Russia. Before their delivery a federal regulation was promulgated under which plaintiff was denied an export license. Plaintiff therefore rejected tender of the presses, and defendant vendor sold them to a third party for $18,765 more than the contract price to plaintiff. Plaintiff sued to recover its down payment and the profit resulting from defendant's resale. On appeal from a judgment for defendant, held, reversed and remanded. A defaulting purchaser is entitled to restitution of its payments in excess …