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"Crimtorts" As Corporate Just Deserts, Thomas Koenig, Michael Rustad
"Crimtorts" As Corporate Just Deserts, Thomas Koenig, Michael Rustad
University of Michigan Journal of Law Reform
Just as Grant Gilmore described "contorts" that lie on the borderline between contract and tort law, the authors coin the term "crimtort" to identify the expanding common ground between criminal and tort law. Although the concept of crimtort can be broadly applied to many areas of the law, this Article focuses on the primary crimtort remedy - punitive damages. The deterrent power of punitive damages lies in the wealth-calibration of the defendant's punishment. For corporations this means that punitive damages will reflect the firm's net income or net worth. The theoretical danger is that juries will abuse wealth by redistributing …