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Full-Text Articles in Law
Safe Harbor For Officer Reliance: Comparing The Approaches Of The Model Business Corporation Act And Delaware’S General Corporation Law, R. Franklin Balotti, Megan W. Shaner
Safe Harbor For Officer Reliance: Comparing The Approaches Of The Model Business Corporation Act And Delaware’S General Corporation Law, R. Franklin Balotti, Megan W. Shaner
Law and Contemporary Problems
Balotti and Shaner discuss the duties of and potential for imposing liability on corporate officers. The fiduciary duties of officers is addressed, in differing degrees, under Delaware law, the law frequently applied to corporate-governance disputes, and under the Model Business Corporation Act (MBCA). In discharging their fiduciary duties, directors under both the MBCA and the General Corporation Law are generally protected from personal liability if, in making business decisions, they reasonably rely on the reports and records of officers, employees, advisors, and experts of the corporation.
The Model Business Corporation Act And Corporate Governance: An Enabling Statute Moves Toward Normative Standards, John F. Olson, Aaron K. Briggs
The Model Business Corporation Act And Corporate Governance: An Enabling Statute Moves Toward Normative Standards, John F. Olson, Aaron K. Briggs
Law and Contemporary Problems
No abstract provided.
Partially Odious Debts?, Omri Ben-Shahar, Mitu Gulati
Partially Odious Debts?, Omri Ben-Shahar, Mitu Gulati
Law and Contemporary Problems
Ben-Shahar borrows from a rich private-law tradition to explore the treatment of odious debt as a problem analogous to allocation of liability in private law. Drawing on the economic analysis of private law, it develops insights as to the structure of an optimal liability scheme. Under this approach, liability is imposed not on the basis of some intrinsic judgment as to the parties' relative blameworthiness, but rather in a forward-looking fashion, on parties who are best suited to take actions to prevent the loss. In addition, liability is imposed on a magnitude tailored to induce an optimal level of precautionary …
Using Arbitration To Eliminate Consumer Class Actions: Efficient Business Practice Or Unconscionable Abuse?, Jean R. Sternlight, Elizabeth J. Jensen
Using Arbitration To Eliminate Consumer Class Actions: Efficient Business Practice Or Unconscionable Abuse?, Jean R. Sternlight, Elizabeth J. Jensen
Law and Contemporary Problems
Companies are increasingly using arbitral class action prohibitions to insulate themselves from class action liability. These prohibitions are detrimental not only to potential class members but to the public at large in that they are preventing the law from being adequately enforced. In essence, by precluding class actions, companies are engaging in "do-it-yourself tort reform," freeing themselves from liability without having to convince legislatures to change the substantive law.
Scientific Ignorance And Reliable Patterns Of Evidence In Toxic Tort Causation: Is There A Need For Liability Reform?, Carl F. Cranor, David A. Eastmond
Scientific Ignorance And Reliable Patterns Of Evidence In Toxic Tort Causation: Is There A Need For Liability Reform?, Carl F. Cranor, David A. Eastmond
Law and Contemporary Problems
As a first step to preserving the central aims of tort law, courts will need to recognize the wide variety of respectable, reliable patterns of evidence on which scientists themselves rely for drawing inferences about the toxicity of substances. Courts may also need to take further steps to address the woeful ignorance about the chemical universe. This may necessitate changes in the liability rules.
Causation, Contribution, And Legal Liability: An Empirical Study, Lawrence M. Solan, John M. Darley
Causation, Contribution, And Legal Liability: An Empirical Study, Lawrence M. Solan, John M. Darley
Law and Contemporary Problems
This article presents empirical evidence of the ways people compare judgments of liability with judgments of causation and contribution. Specifically, the article reports the results of experiments designed to show whether people regard causation and enablement as necessary elements of liability.
Deconstructing Section 11: Public Offering Liability In A Continuous Disclosure Environment, Donald C. Langevoort
Deconstructing Section 11: Public Offering Liability In A Continuous Disclosure Environment, Donald C. Langevoort
Law and Contemporary Problems
There can be no successful reform of the system of capital-raising regulation in the US without rethinking the liability regime. Reform is long overdue and can readily be accomplished in a way that does not unnecessarily compromise investor protection.
Summary Of Roundtable Discussions Regarding The Future Content Of The U.S. Securities Laws, James D. Cox, Edward F. Greene
Summary Of Roundtable Discussions Regarding The Future Content Of The U.S. Securities Laws, James D. Cox, Edward F. Greene
Law and Contemporary Problems
On Apr 8-9, 1999, more than sixty securities lawyers, regulators and academics participated in a roundtable discussion in Washington DC on what should be the future content of the US securities laws. A summary of the discussions is presented.
Tort Liability To Those Injured By Negligent Accreditation Decisions, Peter H. Schuck
Tort Liability To Those Injured By Negligent Accreditation Decisions, Peter H. Schuck
Law and Contemporary Problems
The risk of tort liability for negligent accreditators is examined. Only a single court has held a private accrediting body liable to a consumer for negligence in connection with its evaluation of a social service provider.
The Utilization Of Caveat Emptor In Cercla Private Party Cleanups, Michael Andrew O'Hara
The Utilization Of Caveat Emptor In Cercla Private Party Cleanups, Michael Andrew O'Hara
Law and Contemporary Problems
The applicability of equitable defenses in private party Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) actions is discussed. The "caveat emptor" defense is available for courts to use at their discretion, and holding a purchaser responsible for the property he or she purchases is economically and equitably beneficial.
Civil Liability For Primary Securities Distributions In The United States And The United Kingdom, Robert E. Kohn
Civil Liability For Primary Securities Distributions In The United States And The United Kingdom, Robert E. Kohn
Law and Contemporary Problems
Company law in the UK and securities regulation in the US have developed over the past six decades in response to rapidly changing economic, political and social circumstances. The main features of the regulation of primary securities distributions are identified in the two countries, and their treatment of civil liability is compared.
Practice Guidelines As Legal Standards Governing Physician Liability, Clark C. Havighurst
Practice Guidelines As Legal Standards Governing Physician Liability, Clark C. Havighurst
Law and Contemporary Problems
The utility of medical practice guidelines in the law of medical malpractice was studied. Contrary to the views of most physicians and policy makers, practice guidelines should be allowed to evolve in a pluralistic fashion.