Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Dodd-Frank Act (2)
- Negotiation (2)
- ALI Unmarried Partner Statute (1)
- Ambiguity (1)
- Arbitration (1)
-
- Assent (1)
- Bank resolution (1)
- Bank runs (1)
- Bankruptcy Code (1)
- Banks and systemically important financial institutions (1)
- Case studies (1)
- Cohabitation (1)
- Common-law marriages (1)
- Complexity (1)
- Constructive ambiguity (1)
- Consumer Financial Protection Bureau (1)
- Consumer finance (1)
- Consumers (1)
- Contract law (1)
- Contract terms (1)
- Contracts (1)
- Contractual relations (1)
- De Facto Marriage Act (1)
- Debtor-in-possession (1)
- Duty to read (1)
- Early termination (1)
- Eligible financial contracts (1)
- Federal Deposit Insurance Corporation Improvement Act (1)
- Federal agencies (1)
- History (1)
- Publication
- Publication Type
Articles 1 - 6 of 6
Full-Text Articles in Law
Contracts, Persons And Property: A Tribute To Margaret Jane Radin, Ruth L. Okediji
Contracts, Persons And Property: A Tribute To Margaret Jane Radin, Ruth L. Okediji
Michigan Telecommunications & Technology Law Review
In 2011, the United States was only just beginning to emerge from what some claimed to be the most significant economic crisis since the Great Depression. The devastation wrought by unregulated subprime mortgages unfolded as a political, legal, financial and social tragedy. Millions of homeowners had purchased homes for amounts they most certainly could not afford, with terms and conditions written on documents they even more certainly had never read. Many of those most severely affected were, as one might expect, racial minorities and underrepresented groups, but plenty of other members of society were also caught in the intricately woven …
Mandatory Arbitration In Consumer Finance And Investor Contracts, Michael S. Barr
Mandatory Arbitration In Consumer Finance And Investor Contracts, Michael S. Barr
Articles
Mandatory pre-dispute arbitration clauses are pervasive in consumer financial and investor contracts—for credit cards, bank accounts, auto loans, broker-dealer services, and many others. These clauses often ill serve households. Consumers are typically presented with contracts on a “take it or leave it” basis, with no ability to negotiate over terms. Arbitration provisions are often not clearly disclosed, and in any event are not salient for consumers, who do not focus on the importance of the provision in the event that a dispute over the contract later arises, and who may misforecast the likelihood of being in such a dispute. The …
With Marriage On The Decline And Cohabitation On The Rise, What About Marital Rights For Unmarried Partners?, Lawrence W. Waggoner
With Marriage On The Decline And Cohabitation On The Rise, What About Marital Rights For Unmarried Partners?, Lawrence W. Waggoner
Articles
This article draws attention to a cultural shift in the formation of families that has been and is taking place in this country and in the developed world. Part I uses recent government data to trace the decline of marriage and the rise of cohabitation in the United States. Between 2000 and 2010, the population grew by 9.71 %, but the husband and wife households only grew by 3.7%, while the unmarried couple households grew by 41.4%. A counter-intuitive finding is that the early 21st century data show little correlation between the marriage rate and economic conditions. Because of the …
Out Of Sight, Out Of Mind: Hidden Disclaimers And Ucc § 2-316’S Conspicuousness Requirement, Gavin Thole
Out Of Sight, Out Of Mind: Hidden Disclaimers And Ucc § 2-316’S Conspicuousness Requirement, Gavin Thole
University of Michigan Journal of Law Reform Caveat
Money now, terms later” agreements, or rolling contracts, are commonplace in consumer transactions. Courts frequently allow these agreements to stand. But problems arise when product manufacturers disclaim a warranty that protects consumers, such as the implied warranty of merchantability, without disclosing the disclaimer upfront—effectively rendering the warranty useless. Suppose, for example, a consumer purchases a refrigerator or computer where the implied warranty of merchantability disclaimer is printed on the last page of a thick instruction booklet. The booklet is hidden deep inside the box, buried in a morass of cords and paperwork. The consumer has no way of knowing about …
Constructive Ambiguity: Ip Licenses As A Case Study, Michal Shur-Ofry, Ofer Tur-Sinai
Constructive Ambiguity: Ip Licenses As A Case Study, Michal Shur-Ofry, Ofer Tur-Sinai
University of Michigan Journal of Law Reform
Ambiguity in contracts is often perceived as undesirable. A certain level of ambiguity, however, can have significant virtues: reducing transaction costs associated with foreseeing and negotiating remote contingencies; facilitating the closing of efficient transactions that would not otherwise close; increasing the adaptability and “anti-fragility” of contracts in the face of unforeseen developments; and preserving trust between the parties. Some contracts are more likely to benefit from a certain degree of ambiguity. Relying on multi-disciplinary literature, this Article systematically analyzes ambiguity’s merits and identifies three principal features of transactions that are positively correlated to the virtues of ambiguity: (1) long duration, …
Implementing Symmetric Treatment Of Financial Contracts In Bankruptcy And Bank Resolution, E. J. Janger, John A.E. Pottow
Implementing Symmetric Treatment Of Financial Contracts In Bankruptcy And Bank Resolution, E. J. Janger, John A.E. Pottow
Articles
Financial contracts come in many forms and serve many functions in both the financial system and the broader economy. Repos secured by U.S. Treasury securities act as money substitutes and can play an important role as part of the money supply, while similarly structured repos, secured by more volatile collateral, may be used as speculative devices or hedges. Swaps can be used to insure against various types of market risk, from interest rates to oil prices, or they can operate as vehicles for highly leveraged investments. The parties to these instruments are sometimes major financial institutions and, other times, ordinary …