Law Commons^™

Why Police Should Protect Complainant Autonomy, Randall K. Johnson

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This Essay does its work in, at least, three ways. First, it encourages better use of scarce public sector resources by calling for reform of the police complaint intake process. Next, this Essay identifies the causes of police complaint inefficiencies by critically-assessing how intake is done by the Chicago Police Department (CPD). Lastly, it provides guidance about how to achieve CPD intake reform by better protecting complainant autonomy. Complainant autonomy, at least in this Essay, is defined as a real party in interest’s (i.e. an injured citizen’s) right to control how its allegations are framed by a nominal plaintiff (i.e. …

Coming Up Short: The United States' Second-Best Strategies For Corralling Purely Speculative Derivatives, Timothy E. Lynch

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Purely speculative derivatives (PSDs) are derivatives in which neither counterparty is engaged in hedging. Unless used for entertainment purposes, PSDs are irrational, less-than-zero-sum transactions. Entities that engage in PSDs jeopardize their stakeholders and increase systemic risk. PSDs can also increase moral hazard, be used for regulatory arbitrage, and redirect resources away from efficient allocation of market capital. PSDs should be unenforceable, void for public policy reasons, except where expressly permitted to provide gambling entertainment, enhance price discovery, or increase liquidity for hedgers. In the U.S., however, PSDs are often legal and enforceable, even after the financial crisis of 2008 that …

Understanding Financial Derivatives, Timothy E. Lynch

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Derivatives are commonly defined as some variation of the following: a financial instrument whose value is derived from the performance of a secondary source such as an underlying bond, commodity or index. But this definition is both over-inclusive and under-inclusive. Thus, not surprisingly, derivatives are largely misunderstood, including by many policy makers, regulators and legal analysts. It is important for interested parties such as policy makers to understand derivatives, because the types and uses of derivatives have exploded in the last few decades, and because these financial instruments can provide both social benefits and cause social harms. This Article presents …

'How's My Doctoring?' Patient Feedback's Role In Assessing Physician Quality, Ann Marie Marciarille

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A society-wide consumer revolution is underway with the rise of online user-generated review websites such as Yelp, Angie’s List, and Zagat. Service provider reviews are now available with an intensity and scope that attracts increasing numbers of reviewers and readers. Health care providers are not exempt from this new consumer generated scrutiny though they have arrived relatively late to the party and as somewhat unwilling guests.

The thesis of this article is that online patient feedback on physicians is relevant and valuable even though it is also uncomfortable for health care providers. This is because the modern physician-patient relationship is …

Insurance And Cultural Perspectives On Katrina, Jeffrey E. Thomas

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No abstract provided.

Derivatives: A Twenty-First Century Understanding, Timothy E. Lynch

Faculty Works

Derivatives are commonly defined as some variation of the following: a financial instrument whose value is derived from the performance of a secondary source such as an underlying bond, commodity or index. But this definition is both over-inclusive and under-inclusive. Thus, not surprisingly, derivatives are largely misunderstood, including by many policy makers, regulators and legal analysts. It is important for interested parties such as policy makers to understand derivatives, because the types and uses of derivatives have exploded in the last few decades, and because these financial instruments can provide both social benefits and cause social harms. This Article presents …

Gambling By Another Name; The Challenge Of Purely Speculative Derivatives, Timothy E. Lynch

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Derivatives contracts can be used to hedge pre-existing risks, but they can also be used to speculate. This Article focuses on derivatives contracts in which both counterparties are speculators. These “purely speculative derivatives (PSD) contracts” have become increasingly common over the last several years and have notably resulted in the transfer of many tens of billions of dollars from institutions that had invested in the US subprime housing market to a handful of speculators who foresaw the market’s collapse, as well as many billions of dollars in fees to PSD brokers.

PSD contracts are problematic. PSD contracts are less-than-zero-sum transactions …

State And Local Governments Address The Twin Challenges Of Climate Change And Energy Alternatives, Irma S. Russell, Jeffery S. Dennis

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No abstract provided.

Ethical Issues In Collaborative Lawyering, Barbara Glesner Fines

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No abstract provided.

Got Wheels?: Article 2a, Standardized Rental Car Terms, And Unilateral Private Ordering, Irma S. Russell

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This Article examines the modern system of unilateral private ordering facilitated by form contracts in the context of standard form contracts for renting a car. Modern law accepts the presumption of a free market and free bargain in the setting of form contracting despite the lack of bargaining power on the consumer side of the deal. The article assesses the importance of defaults and presumptions in contract law, and presents the results of an empirical review of standard agreement forms of ten leading rental car companies, noting examples of significant alterations to common law defaults. The article also explores the …

A Common Tragedy: Promises To Benefit The Public Interest And The Enforceability Problem, Irma S. Russell

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No abstract provided.

Rethinking The Legal Oversight Of Benefit Program Exclusions, Mark Berger

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Increasingly, American workers rely upon employers to provide employee benefit programs that include critical health insurance and retirement savings plans. However, employers are finding that providing benefits is a costly undertaking. As a result an increasing number of employers are making use of alternative workforce systems. These involve supplementing a core of full-time workers with contingent employees for whom no commitments are made other than payment for services rendered. Such contingent workers have no expectation of indefinite or continuous employment, and are generally excluded from whatever benefit programs the company may provide.

The increasing use of two-tier employment systems of …

Reinventing The Deal: A Sequential Approach To Analyzing Claims For Enforcement Of Modified Sales Contracts, Irma S. Russell

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No abstract provided.

The Use Of Mediation And Arbitration For Resolving Family Conflicts: What Lawyers Think About Them, Mary Kay Kisthardt

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The use of alternative methods for resolving family conflict has increased significantly in the past few years, but many attor­neys are still wary. In an effort to discover some of the sources of this hesitation as well as identify support for "alternative" processes, the American Academy of Matrimonial Lawyers sur­veyed its members concerning the use of dispute resolution methods. The purpose of this study was to ascertain attorneys' perceptions of the advantages and disadvantages of the two most commonly used alternative dispute resolution mechanisms: me­diation and arbitration. Whether clients will continue to use these methods depends in great part on …

Case Study Of Bad Faith Refusal To Settle: Doctrinal, Normative And Practical Analysis Of Missouri Law, Jeffrey E. Thomas

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No abstract provided.

Ending Our Forebearers' Forbearances: Firrea And Supervisory Goodwill, William K. Black

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No abstract provided.

Supplementing The Functional Test Of Prosecutorial Immunity, Anthony J. Luppino

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No abstract provided.

Franchise Regulation: Comprehensive State Regulation Now Unnecessary, Robert C. Downs

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Since 1970, there has been an epidemic of state regulatory activity con­cerning the sale of franchises and business opportunities. In addition to those states which actually have adopted franchise regulation statutes, several state legislatures currently are considering pending legislation. Undoubtedly, other states, including Missouri, soon will have the opportunity to protect their un­suspecting citizens from the risks believed to be inherent in the franchising industry.

Nor has the franchising business gone unnoticed by the federal govern­ment. On December 21, 1978, the Federal Trade Commission (FTC) published its rule 436, entitled "Disclosure Requirements and Prohibitions Concerning Franchising and Business Opportunity Ventures." …

Recent Developments In Missouri Tort Law, William B. Anderson, Sean O'Brien

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No abstract provided.