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Full-Text Articles in Law

A New And Old Theory For Adjudicating Standardized Contracts, Eric Mills Holmes, Dagmar Thurmann Dec 1987

A New And Old Theory For Adjudicating Standardized Contracts, Eric Mills Holmes, Dagmar Thurmann

Scholarly Works

The purpose of this article is rather simple, extracting a new theory of standard form contracts from the good bits of the spectrum of "old" ideas and combining them with some fresh rethinking. For something fresh, the authors choose to examine the German law on standard form contracts. The authors have tried to remain neutral observers but in extracting the best from the spectrum of ideas one necessarily states--in this instance, one of pragmatic compromise. Thus, this article will cull and identify elements from the spectrum specifically concerning standard form contracts and compare them with the German approach. This process …


Article Two Warranties In Commercial Transactions: An Update, Kathryn L. Moore, Debra L. Goetz, Douglas E. Perry, David S. Rabb Sep 1987

Article Two Warranties In Commercial Transactions: An Update, Kathryn L. Moore, Debra L. Goetz, Douglas E. Perry, David S. Rabb

Law Faculty Scholarly Articles

In 1978 the Cornell Law Review published a Special Project devoted to Article Two commercial warranties. Nine years have since elapsed, and we have decided to update and reassess this important area of the law. We have discovered that although judicial treatment of many aspects of Article Two warranty law has remained stable, in some instances the courts' treatment has progressed and in other instances it has become unclear. This Special Project is our attempt to assemble these changes, interpret the progress, and suggest new lines of analysis to clarify areas of conflict.


Court Adjustment Of Long-Term Contracts: An Analysis Under Modern Contract Law, Robert A. Hillman Feb 1987

Court Adjustment Of Long-Term Contracts: An Analysis Under Modern Contract Law, Robert A. Hillman

Cornell Law Faculty Publications

No abstract provided.


A Rose By Any Other Word: Mutual Mistake In Sherwood V. Walker, Robert Birmingham Jan 1987

A Rose By Any Other Word: Mutual Mistake In Sherwood V. Walker, Robert Birmingham

Faculty Articles and Papers

No abstract provided.


Protection Of Shipowners’ Liability Under United States Law And Marine Insurance Practice, Izak Stephanus Fourie Jan 1987

Protection Of Shipowners’ Liability Under United States Law And Marine Insurance Practice, Izak Stephanus Fourie

LLM Theses and Essays

Shipowners are exposed to a variety of risks that are, to a large extent, unique to maritime business. Because of factors like the recent increase in the size and value of ships, increase in marine traffic, enactment of legislation imposing new liabilities, and the tendency of courts to make huge awards to personal injury and death claims, shipowners are exposed to potential losses or claims worth millions of dollars in the event of disaster. These heavy risks led to the establishment of the marine insurance industry, as well as the enactment of legislation that limits shipowners’ liability. This legislation was …


No Risk Allocation Need Apply: The Twisted Minnesota Law Of Indemnification, Daniel S. Kleinberger Jan 1987

No Risk Allocation Need Apply: The Twisted Minnesota Law Of Indemnification, Daniel S. Kleinberger

Faculty Scholarship

Minnesota's law on indemnification agreements is the most restrictive in the country. To provide a basis for understanding the law's restrictions, this Article begins with an analysis of the rationale and functions of indemnification agreements. The Article then reviews the hostility of both the common and statutory law to indemnification agreements and argues that opponents of indemnification have acted without convincing reasons or supporting evidence in substituting government rules for private decision-making.


Covenant, Justicies Writs, And Reasonable Showings, Robert C. Palmer Jan 1987

Covenant, Justicies Writs, And Reasonable Showings, Robert C. Palmer

Faculty Publications

No abstract provided.


A New Theory Of Assent-Based Liability Emerging Under The Guise Of Promissory Estoppel: An Explanation And Defense, Juliet P. Kostritsky Jan 1987

A New Theory Of Assent-Based Liability Emerging Under The Guise Of Promissory Estoppel: An Explanation And Defense, Juliet P. Kostritsky

Faculty Publications

This Article will demonstrate that these apparently divergent approaches (bargain and promissory estoppel) share unifying elemental criteria that situate them all squarely within an assent-based theory of enforceability. This Article differs from scholarship that depicts promissory estoppel as having a different conceptual or theoretical basis for enforcement. This Article posits that promissory estoppel, together with other orthodox doctrines, are merely substitute doctrinal methods for showing the assent required for an enforceable consensual exchange.


Neighbors In American Land Law, Stewart E. Sterk Jan 1987

Neighbors In American Land Law, Stewart E. Sterk

Articles

No abstract provided.


Design Defects In Equipment: When Are Government Contractors Liable For Injuries To Military Personnel?, Emily Calhoun Jan 1987

Design Defects In Equipment: When Are Government Contractors Liable For Injuries To Military Personnel?, Emily Calhoun

Publications

No abstract provided.


Public Contracts, Private Contracts, And The Transformation Of The Constitutional Order, Thomas W. Merrill Jan 1987

Public Contracts, Private Contracts, And The Transformation Of The Constitutional Order, Thomas W. Merrill

Faculty Scholarship

Modern interpretation of the Contract Clause of article 1, section 10 has created a dual standard of judicial review that bottoms upon the classification of a particular contract as public or private. However, which particular category has received greater deference has changed depending upon the precedential climate. Within his Article, Professor Merrill outlines three modern justifications for affording greater protection to public obligations “Kantian theory,” “process theory,” and “utilitarian theory.” He argues, however, that none of these theories adequately justify the dual standard of review, and concludes that a unitary analysis of the contract clause that affords no presumptions in …


Conflict And Cooperation In Long-Term Contracts, Robert E. Scott Jan 1987

Conflict And Cooperation In Long-Term Contracts, Robert E. Scott

Faculty Scholarship

This Article uses the techniques of modern decision analysis and game theory to analyze the decisionmaking strategies of parties to long-term commercial contracts. Most parties to long-term contracts initially allocate the risks of future contingencies and agree – either explicitly or implicitly – to adjust this initial risk-allocation scheme if unanticipated events occur. Once contract risks are initially distributed, however, each party's self-interest may compel them to evade their responsibility rather than adjust cooperatively as originally agreed. Visualizing the interactions between contracting parties as an iterated prisoner's dilemma, the Author attempts to clarify the dynamics of this adjustment process. Professor …


Quantity And Price Adjustment In Long-Term Contracts: A Case Study Of Petroleum Coke, Victor P. Goldberg, John R. Erickson Jan 1987

Quantity And Price Adjustment In Long-Term Contracts: A Case Study Of Petroleum Coke, Victor P. Goldberg, John R. Erickson

Faculty Scholarship

Much economic activity takes place within a framework of complex, long-term contracts. While economists have shown increased interest in these contracts, surprisingly little is known about them, or, indeed, about how to analyze the contracting activity of private economic actors. A case study of the actual contracts used in one industry could provide sorely needed data about the way in which reasonably clever businessmen and lawyers cope with problems scholars might consider intractable. In this article, we provide such an analysis of contracts concerning a particular product – petroleum coke. We focus on the problems of quantity and price adjustment. …


Squaring Undisclosed Agency Law With Contract Theory, Randy E. Barnett Jan 1987

Squaring Undisclosed Agency Law With Contract Theory, Randy E. Barnett

Georgetown Law Faculty Publications and Other Works

The law of undisclosed agency has long been considered an anomaly of contract theory. While few disapprove of its content, this body of law does not appear to square with our theoretical understanding of contractual obligation. In this Article, Professor Barnett applies a "consent theory of contract" to explain and critically evaluate the law of undisclosed agency. After showing why standard contract theories have been unable to explain the established doctrine in this area, he analyzes the nexus of obligations arising from the consensual "triangular flow of rights" among the three parties to the paradigm undisclosed agency relationship. He then …


Contract Law As A System Of Values Book Review, Jack M. Beermann Jan 1987

Contract Law As A System Of Values Book Review, Jack M. Beermann

Faculty Scholarship

Contract law has changed dramatically since the heyday of free contract ideology. The false conflict in the cases and literature between facilitation of market transactions and regulation to achieve social aims has been transcended, largely due to the realization that social aims are behind all of contract law. In place of this false conflict, new questions about the values advanced through contract law have been posed. Contract theory needs an account of the values underlying doctrines that were previously justified (wrongly) as means to effectuate the intent of the parties. Hugh Collins has given us such an account in his …


Strict Liability For Chattel Leasing, Richard C. Ausness Jan 1987

Strict Liability For Chattel Leasing, Richard C. Ausness

Law Faculty Scholarly Articles

Leasing has become an increasingly popular substitute for outright purchases as a means of acquiring products for use. Few courts and commentators, however, have addressed the question of whether the principles of strict products liability which apply to sellers also apply to lessors. In this Article, Professor Ausness reviews the historical basis for imposing strict liability in tort on sellers and applies these rationales to five basic kinds of lease transactions. He concludes that strict liability should not apply when a product defect arises after the leased product is placed in the hands of the lessee (as contrasted with the …