Law Commons^™

Risky Business: Htas, The Cash Forward Exclusion And Top Of Iowa Cooperative V. Schewe, Charles F. Reid

Villanova Law Review

No abstract provided.

Microfinance And The Mechanics Of Solidarity Lending: Improving Access To Credit Throught Innovations In Contract Structure, Jameel Jaffer

Florida State University Journal of Transnational Law & Policy

No abstract provided.

Rethinking The Uniformity Norm In Commercial Law: Optimal Institutional Design For Regulating Incomplete Contracts, Robert E. Scott

Faculty Scholarship

This paper begins with the claim that the state's primary role in uniformly enforcing commercial contracts is to regulate incomplete contracts efficiently. This role requires the state to perform two interdependent but conceptually distinct functions. The first is an interpretive function – the task of correctly (and uniformly) interpreting the meaning of the contract terms chosen by parties to allocate contract risk. The second is a standardizing function – the task of creating broadly suitable default rules or assigning standard meanings to widely used contract terms. Correct interpretation argues for a "textualist" or plain meaning interpretation of the express terms …

The Tentative Case Against Flexibility In Commercial Law, Omri Ben-Shahar

Articles

Well-rooted in modern commercial law is the idea that the law and the obligations that it enforces should reflect the empirical reality of the relationship between the contracting parties. The Uniform Commercial Code ("Code") champions this tradition by viewing the performance practices formed among the parties throughout their interaction as a primary source for interpreting and supplementing their explicit contracts. The generous recognition of waiver and modifications, as well as the binding force the Code accords to course of performance, course of dealings, and customary trade usages, effectively permits unwritten commercial practices to vary and to erode explicit contractual provisions.

Covenant And Contract, Steven Nock, Margaret F. Brinig

Journal Articles

In this article we ask, "What distinguishes a covenant from a mere contract, and what role does this distinction play for natural law?" Both of us have thought substantially about covenant over the past several years. The concept of covenant comes to us originally from religious sources, so we have paid explicit attention to what the Bible and organized religion have to say about covenant. We have also drawn from our own disciplines of law, economics, and sociology as they explain or draw from the initial concepts.

Covenant is a concept that takes us beyond contract. Indeed, the idea that …

The Law Of Contract And The Concept Of Change: Public And Private Attempts To Regulate Modification, Waiver, And Estoppel, David Snyder

Articles in Law Reviews & Other Academic Journals

No abstract provided.

Intentional Interference With Contract And The Doctrine Of Efficient Breach: Fine Tuning The Notion Of The Contract Breacher As Wrongdoer, Clark A. Remington

Buffalo Law Review

No abstract provided.

Players, Owners, And Contracts In The Nfl: Why The Self-Help Specific Performance Remedy Cannot Escape The Clean Hands Doctrine, Stephen C. Wichmann

Seattle University Law Review

Is it fair that professional football players possess so much control in renegotiating contracts? Do the players in fact possess the control that we perceive them to have? Often, players do have most of the bargaining power, as in the case of college players being chosen in the draft. Once a team has chosen to pursue a draftee out of college, no other team has the right to interfere with that process. If that club fails to sign the player, the club wastes a valuable pick, and there is no remedy for such a failure. But after that introduction into …

The Richness Of Contract Theory, Randy E. Barnett

Michigan Law Review

When I teach the doctrine of good faith performance, I assign an exchange between two distinguished contracts scholars, Robert Summers and Steven Burton, that has come to be known as the "Summers-Burton" debate. This debate is interesting not only for the contrasting views of its protagonists concerning the doctrine of good faith, but also because of the generational shift in modes of scholarship it represents. In the 1950s and 1960s, contracts scholars, like so many others, rejected so-called "conceptualist" or "formalist" approaches that attempted to dictate the outcome of cases with general concepts and rules. Contracts scholarship was dominated by …

The Indentured Servants Of Academia: The Adjunct Faculty Dilemma And Their Limited Legal Remedies, John C. Duncan, Jr.

Journal Publications

In this half of the twentieth century, the academic equivalent of the indentured servant is the adjunct faculty member in higher education. Adjuncts cannot say or do much about their plight. The dilemma of adjunct faculty leads to what should be considered a violation of due process rights. This Article first examines who are the adjunct faculty, what are their dilemmas, and how are they viewed in the academic world. The heart of the paper then explores the limited legal remedies available. The essential problems of lack of due process and minimal protection through collective bargaining and contractual agreements are …

Frustration, Richard F. Devlin Frsc

Articles, Book Chapters, & Popular Press

As noted elsewhere in this book, "sanctity of contract" has been identified as one of the cornerstones of the classical model of contracts. However, as the previous chapter on mistake indicated, in certain limited situations parties may be excused from their contractual obligations. Frustration provides another example of an excuse from performance obligations. Whereas mistake deals with inaccurate assumptions or lack of knowledge about past or existing circumstances, frustration relates to inaccurate assumptions about future circumstances. Sometimes it is not clear whether a mistake or a frustration analysis is appropriate.

Rethinking Statutory Antiwaiver Provisions Following The Lloyd's Of London Litigation, Mark J. Loewenstein

Publications

In the Lloyd's of London cases, the United States Courts of Appeals upheld certain forum-selection clauses that effectually deprived investors of the protections of the federal securities laws as if the investors had expressly waived those protections. This article examines statutory antiwaiver provisions in light of the Lloyd's cases, exploring the effect those provisions have on the administration of the federal securities laws, and suggests that the law be amended to allow contractual waiver in certain circumstances.

The Case For Punitive Damages In Contracts, William S. Dodge

Faculty Scholarship

No abstract provided.

Waiting For The Omelet To Set: Match-Specific Assets And Minority Oppression In The Close Corporation, Edward B. Rock, Michael L. Wachter

All Faculty Scholarship

No abstract provided.

In Defense Of The Incorporation Strategy, Jody S. Kraus, Steven D. Walt

Faculty Scholarship

Contract law must provide rules for interpreting the meaning of express terms and default rules for filling contractual gaps. Article 2 of the Uniform Commercial Code provides the same response to both demands: It incorporates the norms of commercial practice. This "incorporation strategy" has recently come under attack. Although the incorporation strategy for gap-filling seems to have survived criticism, the incorporation strategy for interpretation remains heavily criticized. Critics charge that the expected rate of interpretive error under an incorporationist interpretive regime is so excessive that almost any plain meaning regime would be preferable.

The attack on the incorporation strategy for …

Comparative Corporate Governance And The Theory Of The Firm: The Case Against Global Cross Reference, William W. Bratton, Joseph A. Mccahery

All Faculty Scholarship

Professors Bratton and McCahery take up the main questions addressed by the literature on comparative corporate governance: whether national governance systems can be expected to converge in the near future, and whether the focal point of that convergence will be a new, hybrid governance system comprised of the best practices drawn from different systems. This Article advances the view that neither global convergence that eliminates systemic differences nor the emergence of a hybrid best practice safely can be projected because each national governance system is a system to a significant extent. Each system, rather than consisting of a loose collection …

Despatches From The Front: Recent Skirmishes Along The Frontiers Of Electronic Contracting Law, Jane Kaufman Winn, Michael Rhoades Pullen

Articles

This Article will provide a short overview of the current efforts in the United States and the European Union to reform contract law to accommodate recent innovations in electronic contracting. Whether changes are needed to current contract law doctrines governing contract formation, effectiveness of contract terms, choice of law and forum provisions, special protections for consumers, and signature and writing requirements, revisions in these areas have all proved controversial. Even in those areas where a consensus may be emerging on whether law reform may be appropriate in some form, consensus is often still lacking with regard to the specific legislation …

Caught Between Scylla And Charybdis: Law & Economics As A Useful Tool For Feminist Legal Theorists , Darren Bush

American University Journal of Gender, Social Policy & the Law

No abstract provided.

Myths, Miscues, And Misconceptions: No-Aid Separationism And The Establishment Clause, Carl H. Esbeck

Faculty Publications

In neutrality theory the recipients of vouchers, grants, and purchase-of-service contracts are eligible to participate as providers in government social service programs without regard to their religious character. Indeed, religious beliefs and practices are prohibited bases for screening out those who want to be welfare program providers. Notable examples of congressional social service legislation conforming to the rule of religious neutrality are the ‘charitable choice‘ feature imbedded in the Welfare Reform Act of 1996 and the Community Services Block Grant Act of 1998, as well as the provision allowing issuance of child care vouchers to indigent parents in the Child …

The Richness Of Contract Theory, Randy E. Barnett

Georgetown Law Faculty Publications and Other Works

This essay is a review of The Richness of Contract Law: An Analysis and Critique of Conemporary Theories of Contract Law by Robert A. Hillman (1997).

Throughout the book, Hillman offers a number of useful insights about various issues of contract law and theory--as he has in his numerous law review articles--but in this review the author is concerned with his overall theme: a general skepticism about "unifying" or "highly abstract" contract theories that fail to mirror the richness of contract law. In this regard, Hillman stands in the "realist" tradition of the previous generation of contracts scholars. Hillman attempts …

The Richness Of Contract Theory, Randy E. Barnett

Georgetown Law Faculty Publications and Other Works

No abstract provided.

The Law Of Contract And The Concept Of Change: Public And Private Attempts To Regulate Modification, Waiver, And Estoppel, David V. Snyder

Articles by Maurer Faculty

This article argues that contractual change is inherently problematic because contract and change are fundamentally antithetical. Because change is inevitable, however, the law of contract attempts to regulate the effect of change. These attempts are divided into two realms: public regulation, including the preexisting duty rule and its substitutes, and private regulation, including contractual "no oral modification" and "no oral waiver" clauses. The article criticizes not only the preexisting duty rule but also the duress and good faith tests that have been suggested as substitutes. Instead, the article proposes a "coercion" test, which is stated in detail and which is …

Private Ordering At The World's First Futures Exchange, Mark D. West

Michigan Law Review

Modern derivative securities - financial instruments whose value is linked to or "derived" from some other asset - are often sophisticated, complex, and subject to a variety of rules and regulations. The same is true of the derivative instruments traded at the world's first organized futures exchange, the Dojima Rice Exchange in Osaka, Japan, where trade flourished for nearly 300 years, from the late seventeenth century until shortly before World War II. This Article analyzes Dojima's organization, efficiency, and amalgam of legal and extralegal rules. In doing so, it contributes to a growing body of literature on commercial self-regulation while …

Lawyers, Law, And Contract Formation: Comments On Daniel Keating's 'Exploring The Battle Of The Forms In Action', Robert K. Rasumssen

Michigan Law Review

Attempting to infuse the austerity of theory with a dose of reality, an intrepid group of legal scholars has left the security of the office and ventured into the work-a-day world of commercial practices. The information that they have gathered and are sharing with the rest of us is furthering our understanding of the interaction between commercial law and commercial practice. Embedded in much of the research they have generated is the not-so-flattering conclusion that law professors suffer from a self-serving bias. Those of us in the academy engage in the assumption, often unstated or even unacknowledged, that the law …

The Singapore Electronic Transactions Act 1998 And The Proposed Article 2b Of The Uniform Commercial Code, Andrew B.L. Phang

Research Collection Yong Pung How School Of Law

It is axiomatic that the law must change with the times. And nowhere is this more starkly demonstrated than in the shift, particularly during the last decade or so, into the information age - a shift that has radically changed the face of commerce, and will continue to do so in the years to come. In the context of commercial law, the focus on goods and property, so prevalent particularly in the middle of this century, is now giving way to an acknowledgment that the relevant legal regimes must accommodate information as contractual subject-matter. In this regard, it is widely …

An Economic Analysis Of The Guaranty Contract, Avery W. Katz

Faculty Scholarship

Guaranty arrangements, in which one person stands as surety for a second person's obligation to a third, are ubiquitous in commercial transactions and in commercial law. In recent years, however, scholarly attention to the topic has been scant; and no one has systematically analyzed this body of law and practice from an economic policy perspective. Accordingly, this Article attempts to outline the basic economic logic underlying the guaranty relationship, and applies the results to a variety of specific issues in government policy and private planning. It poses and answers three main questions: First, why would a creditor prefer to make …

Presenter, "The Six-Minute Man: A Sociolegal Examination Of The Institution Of Billable Hours In New York City Law Firms," Social Science Research Council Program On Corporation As A Social Institution, Berkeley, Bruce Price

Bruce M Price

No abstract provided.

Prologue, Sanford N. Katz

Sanford N. Katz

No abstract provided.

La Prueba Del Daño En La Responsabilidad Civil Por El Otorgamiento Abusivo Del Crédito, Martin Paolantonio, Salvador Bergel

Martin Paolantonio

Análisis de la dinámica probatoria del daño en los supuestos de otorgamiento abusivo del crédito

Elementos Do Contrato De Arrendamento Mercantil (Leasing) E A Propriedade Do Arrendatário, Ivo T. Gico

Ivo Teixeira Gico Jr.

O artigo traça os pontos relevantes acerca do contrato de arrendamento mercantil conhecido como leasing. The article outlines the important points about the leasing.