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Review Of Corrective Justice, By E. Weinrib, Scott Hershovitz
Review Of Corrective Justice, By E. Weinrib, Scott Hershovitz
Reviews
I once heard it said of a famous philosopher of law that he never allowed his philosophy to be polluted by law. No one will ever say that about Ernie Weinrib. His latest book - Corrective Justice - is exceptional precisely because Weinrib is deeply informed about legal doctrine. Of course, he also has formidable philosophical skill, and in bringing that to bear on doctrine, he dismantles any thought that corrective justice is too abstract a concept to shed light on the practical problems that courts face. Along the way, he also demol ishes the instrumentalism that has recently dominated …
Private Liability For Reckless Consumer Lending, John A. E. Pottow
Private Liability For Reckless Consumer Lending, John A. E. Pottow
Articles
Congress recently enacted amendments to the Bankruptcy Code that possess the overarching theme of cracking down on debtors due to the increasing rate at which individuals have been filing for bankruptcy. Taking into account the correlation between the overall rise in consumer credit card debt and the rate of individual bankruptcy filings, the author nevertheless hypothesizes that not all credit card debt is troubling. Instead, the author proposes that the catalyst driving individual bankruptcy rates higher than ever is the level of "bad credit"-or credit extended to individuals even though there is a reasonable likelihood that the individual will be …
A Control-Based Approach To Shareholder Liability For Corporate Torts, Nina A. Mendelson
A Control-Based Approach To Shareholder Liability For Corporate Torts, Nina A. Mendelson
Articles
Some commentators defend limited shareholder liability for torts and statutory violations as efficient, even though it encourages corporations to overinvest in and to externalize the costs of risky activity. Others propose pro rata unlimited shareholder liability for corporate torts. Both approaches, however, fail to account fully for qualitative differences among shareholders. Controlling shareholders, in particular, may have lower information costs, greater influence over managerial decisionmaking, and greater ability to benefit from corporate activity. This Article develops a control-based approach to shareholder liability. It first explores several differences among shareholders. For example, a controlling shareholder can more easily curb managerial risk …