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Full-Text Articles in Law
The Risks Of Reward: The Role Of Executive Compensation In Financial Crisis, Erica Beecher-Monas
The Risks Of Reward: The Role Of Executive Compensation In Financial Crisis, Erica Beecher-Monas
Law Faculty Research Publications
This Article examines the role of unbridled executive pay in exacerbating what Keynes called the "animal spirits" of the market. It analyzes the ways in which theoretical bases of executive pay structures diverge from reality, and the stakes for the firm and society in skyrocketing pay practices unlinked to performance. Various regulatory efforts, including the executive pay provisions of the Dodd-Frank Act, are intended to better align pay with performance. This article discusses these provisions and analyzes them in light of behavioral economics. Curbing executive pay is vital to controlling risk and preventing economic collapse, but the dynamics of group …
Letter Of Credit Litigation Under Ucc Article 5: A Case Of Statutory Preemption, John F. Dolan
Letter Of Credit Litigation Under Ucc Article 5: A Case Of Statutory Preemption, John F. Dolan
Law Faculty Research Publications
In this article, Professor Dolan maintains that UCC Article 5 fashions a comprehensive remedy scheme for recurring damages claims in letter of credit litigation. That scheme, he contends, is upset by the introduction of most common law causes of action in Article 5 litigation. He concludes, therefore, that courts should not entertain those common law claims, which he sees as destructive of letter of credit law and of the unique commercial nature of letters of credit. Using the economic loss doctrine and similar theories, he urges courts to dismiss actions brought in addition to or in lieu of the remedies …