Law Commons^™

The Disappearing Settlement: The Contractual Regulation Of Smith & Wesson Firearms, Charles C. Sipos

Vanderbilt Law Review

Consider three transactions: (1) federal legislation passed by Congress; (2) an order of judgment in a private lawsuit; and (3) a contractual arrangement between private parties. If one were asked to rank those transactions in order of the potential impact they should have on public and social policy, they would probably appear in the order that they are listed. Intuition, experience, and plain common sense might likely lead to the conclusion that legislation has the greatest impact on public policy, private agreements the least,' and final judgments in litigation somewhere in between. Democratic principles provide very good reasons for this …