Law Commons^™

A Coasean Experiment On Contract Presumptions, Stewart J. Schwab

Stewart J Schwab

Despite the theoretical importance of the Coase Theorem, scholars have given surprisingly little attention to verifying its predictions empirically. Supporters often accept the theorem as dogma, while armchair critics assail its assumptions. In an exciting series of recent articles, however, Elizabeth Hoffman and Matthew Spitzer have presented experimental evidence, as have others, that largely supports the Coasean prediction that bargainers will negotiate around inefficient property rights to reach a Pareto-optimal solution. The methodology has even gained sufficient attention to have its detractors. The existing experiments analyze the results of bargains when one side has the power to impose unilaterally one …

Duty In The Litigation-Investment Agreement: The Choice Between Tort And Contract Norms When The Deal Breaks Down, Anthony J. Sebok, W. Bradley Wendel

W. Bradley Wendel

Litigation investment, which is also known as “litigation finance” or “third party litigation finance,” has grown in importance in many common law and civilian legal systems and has come to the United States as well. While many questions remain about both legality and social desirability of litigation finance, this paper starts with the assumption that the practice will become widespread in the US and explores the obligations of the parties to the litigation finance contract. The first part of the article uses an example to illustrate the risks imposed by one of the other party on the other which should …

On The Rise Of Shareholder Primacy, Signs Of Its Fall, And The Return Of Managerialism (In The Closet), Lynn Stout

Lynn A. Stout

In their 1932 opus "The Modern Corporation and Public Property," Adolf Berle and Gardiner Means famously documented the evolution of a new economic entity—the public corporation. What made the public corporation “public,” of course, was that it had thousands or even hundreds of thousands of shareholders, none of whom owned more than a small fraction of outstanding shares. As a result, the public firm’s shareholders had little individual incentive to pay close attention to what was going on inside the firm, or even to vote. Dispersed shareholders were rationally apathetic. If they voted at all, they usually voted to approve …

The Sound Of Silence - An Analysis Of The Incorporation Of Arbitration Terms After Contract Formation, Jonathan Muk

Jonathan Muk

R1 International Pte Ltd v Lonstroff AG [2014] SGCA 56 (“R1 International”) is significant for it affirms the position that an arbitration clause may be incorporated into a contract subsequent to its formation if there was a prior understanding to that effect. In its decision, the Court of Appeal overruled the decision of the trial judge and held that an arbitration clause stating that arbitration is to be held in Singapore was incorporated subsequent to the formation of the contract. An analysis of the case is worthwhile, since the court’s view was that the arbitration term was incorporated as a …

La Agonía Del Principio De Tracto Sucesivo En El Registro De Personas Jurídicas Y Naturales, Angel Rimascca Huarancca

ANGEL RIMASCCA HUARANCCA

No abstract provided.

Thinking Outside The Four Corners Of Contract Doctrine In The Legal Education Crisis, Mark Burge

Mark Edwin Burge

No abstract provided.

The Harmonization Of Browsewrap Agreements Abroad And The Protection Of American Consumers, Tinsley A. Ashley

Tinsley A Ashley

No abstract provided.

When Does Some Federal Interest Require A Different Result?: An Essay On The Use And Misuse Of Butner V. United States, Juliet Moringiello

Juliet M Moringiello

Thousands of judges and scholars have relied on the statement in the 1979 Supreme Court opinion in Butner v. United States that “property interests are created and defined by state law...unless some federal interest requires a different result.” Often, they cite to the statement as a policy constraint that elevates state property law over federal bankruptcy law. This Essay, written for the American Bankruptcy Institute – University of Illinois Symposium on Chapter 11 Reform, posits that the Butner rule is not as broadly applicable as commonly believed. To do so, the Essay surveys some notable uses and misuses of the …

Dirty Debts Sold Dirt Cheap, Dalie Jimenez

Dalie Jimenez

More than 77 million Americans have a debt in collections. Many of these debts will be sold to debt buyers for pennies, or fractions of pennies, on the dollar. This Article details the perilous path that debts travel as they move through the collection ecosystem. Using a unique dataset of 84 consumer debt purchase and sale agreement, it examines the manner in which debts are sold, oftentimes as simple data on a spreadsheet, devoid of any documentary evidence. It finds that in many contracts, sellers disclaim all warranties about the underlying debts sold or the information transferred. Sellers also sometimes …

Contracts: A Context And Practice Casebook (With M. Schwartz), Adrian Walters

Adrian J Walters

No abstract provided.

Dodging Windfalls: Damages Based On Market Price, Actual Loss, And Appropriate Awards, John Gotanda

John Y Gotanda

This article draws on the underlying policy of the United Nations Convention on Contracts for the International Sale of Goods (CISG) to demonstrate that Article 76’s market damages approach permits an aggrieved party in certain circumstances to recover damages in excess of the aggrieved party's actual loss for the breach of the underlying contract. While at first glance this result may appear to be at odds with the principles of full compensation and mitigation, in reality, it is not. It is consistent with the text of the CISG damages provisions. In addition, it effectuates the parties' allocation of risk in …

Contract For The Grant Of A Compliant Option To Purchase, Alvin W-L See

Alvin W-L See

Are "Legal" Marijuana Contracts "Illegal"?, Luke M. Scheuer

Luke M Scheuer

The Transformation Of South African Private Law After Twenty Years Of Democracy, 14 Nw. J. Int’L Hum. Rts. (Forthcoming 2016)., Christopher J. Roederer

Christopher J. Roederer

In The Transformation of South African Private Law after Ten Years of Democracy, 37 Colum. Hum. Rts. L. Rev. 447 (2006), I evaluated the role of private law in consolidating South Africa’s constitutional democracy. There, I traced the negative effects of apartheid from public law to private law, and then to the law of delict, South Africa’s counterpart to tort law. I demonstrated that the law of delict failed to develop under apartheid and that the values animating the law of delict under apartheid were inconsistent with the values and aspirations of South Africa’s democratic transformation. By the end of …

Principles Versus Rules In The Emerging European Contract Law, Pietro Sirena, Yehuda Adar

Pietro Sirena

The authors propose to take principles "seriously", by understanding them in the framework of the well-known Dworkinian theory of law. As showed by their constitutional link to human rights and fundamental freedoms, "principles" would therefore be opposed to "rules". At the European level particularly, principles would encapsulate the common core of the laws of the Member States and (especially with regard to subsidiarity and proportionality) would set the conditions for it to be applied by the Court of Justice. "Principles" would promote the goal of European legal unity by reinforcing what national laws already have in common, while "rules" enacted …

Les Conditions Générales D’Utilisation Des Sites Web Soumis Au Droit Américain Et Quelques Protections Pour Les Consommateurs, W. Gregory Voss

W. Gregory Voss

Un aperçu du droit américain des conditions générales d’utilisation des sites web et quelques protections pour les consommateurs en droit américain. Développé d'après mon intervention intitulée “Les contrats du commerce électronique soumis au droit américain” à la Journée d’Etude: Les défis du numérique dans les entreprises en Europe, à Toulouse, France, le 27 février 2015.

Bubbles (Or, Some Reflections On The Basic Laws Of Human Relations), Donald J. Kochan

Donald J. Kochan

Defectos Y Virtudes Del Proyecto De Reforma Del Código Civil. El Caso De La Representación En Los Negocios Jurídicos., Fort Ninamancco Córdova

Fort Ninamancco Cordova

No abstract provided.

Keepings, Donald J. Kochan

Donald J. Kochan

The Role Of The Profit Imperative In Risk Management, Christopher French

Christopher C. French