Law Commons^™

Lessons From Metaethics, Cognitive Neuroscience, Moral Psychology, And Behavioral Economics: The Use Of Ethical Intuition In Legal Compliance For Business Entities, Eric C. Chaffee

Eric C. Chaffee

This article challenges the widely held view in legal education and in practice that what lawyers should be doing in providing legal advice consists solely of engaging in legal research and analytic reasoning. This article suggests that ethical intuition—i.e., the unconscious recognition that a specific action is good, evil, or morally neutral—may have a useful role to play in making legal compliance decisions for business entities.

Although largely ignored by the legal academy, scholars in numerous disciplines have acknowledged the role that intuition plays in decision making. Philosophers and religious scholars initially recognized role of intuition in moral decision making …

Lessons From Metaethics, Cognitive Neuroscience, Moral Psychology, And Behavioral Economics: The Use Of Ethical Intuition In Legal Compliance Decision Making For Business Entities, Eric C. Chaffee

Eric C. Chaffee

This article challenges the widely held view in legal education and in practice that what lawyers should be doing in providing legal advice consists solely of engaging in legal research and analytic reasoning. This article suggests that ethical intuition—i.e., the unconscious recognition that a specific action is good, evil, or morally neutral—may have a useful role to play in making legal compliance decisions for business entities.

Although largely ignored by the legal academy, scholars in numerous disciplines have acknowledged the role that intuition plays in decision making. Philosophers and religious scholars initially recognized role of intuition in moral decision making …

Standing Under Section 10(B) And Rule 10b-5: The Continued Validity Of The Forced Seller Exception To The Purchaser-Seller Requirement, Eric C. Chaffee

Eric C. Chaffee

Congress drafted section 10(b) of the Securities and Exchange Act of 1934 as a “catchall” antifraud provision to combat a wide variety of manipulative and deceptive activities that can occur in connection with the purchase or sale of a security. Based upon the power granted under section 10(b), the Security and Exchange Commission (“SEC”) enacted Rule 10b-5, and these provisions have become powerful tools in fighting securities fraud. Although Congress explicitly charged the SEC with enforcement of section 10(b) and Rule 10b-5, the Supreme Court of the United States has held that a private right of action exists based upon …