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Articles 1 - 28 of 28
Full-Text Articles in Law
Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman
Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman
Rutgers Law School (Newark) Faculty Papers
In this Article, Professor Sharfman addresses the problem of "discretionary valuation": that courts resolve valuation disputes arbitrarily and unpredictably, thus harming litigants and society. As a solution, he proposes the enactment of "valuation averaging," a new procedure for resolving valuation disputes modeled on the algorithmic valuation processes often agreed to by sophisticated private firms in advance of any dispute. He argues that by replacing the discretion of judges and juries with a mechanical valuation process, valuation averaging would cause litigants to introduce more plausible and conciliatory valuations into evidence and thereby reduce the cost of valuation litigation and increase the …
Measuring Recovery For Non-Contractual Investment, Omri Ben-Shahar, Robert A. Mikos
Measuring Recovery For Non-Contractual Investment, Omri Ben-Shahar, Robert A. Mikos
Law & Economics Working Papers Archive: 2003-2009
Parties who make investments that generate externalities may sometimes recover from the beneficiaries, even in the absence of contract. Previous scholarship has shown that granting recovery, based on either the cost of the investment or the benefit it confers, can provide optimal incentives to invest. However, this article demonstrates that the law often awards recovery that is neither purely cost-based, nor purely benefit-based, and instead equals either the greater-of or lesser-of the two measures. These hybrid approaches to recovery distort incentives to invest. The article demonstrates the prevalence of these practices, and explores informational and related reasons why they emerge. …
Contract Lore, Robert A. Hillman
Contract Lore, Robert A. Hillman
Cornell Law Faculty Publications
No abstract provided.
The Economics Of Litigation And Arbitration: An Application To Franchise Contracts, Keith N. Hylton, Christopher R. Drahozal
The Economics Of Litigation And Arbitration: An Application To Franchise Contracts, Keith N. Hylton, Christopher R. Drahozal
Faculty Scholarship
If we define the deterrence benefits from contract enforcement as avoided harms net of avoidance costs, we should expect contracting parties to choose the dispute resolution forum that provides the greatest difference between deterrence benefits and dispute resolution costs for every type of dispute. We apply this general framework to franchise contracts and conduct an empirical analysis of the determinants of arbitration agreements among franchising parties. Although it is obvious that contracting parties have an incentive to choose arbitration in order to reduce dispute-resolution costs, there have been no studies of the importance of deterrence concerns. We examine the deterrence …
Brief For Respondents, Green Tree Financial Corp. V. Bazzle, No. 02-634 (U.S. Mar. 27, 2003), ., Cornelia T. Pillard
Brief For Respondents, Green Tree Financial Corp. V. Bazzle, No. 02-634 (U.S. Mar. 27, 2003), ., Cornelia T. Pillard
U.S. Supreme Court Briefs
No abstract provided.
Physician Restrictive Covenants: The Neglect Of The Incompetent Patients' Interests, S. Elizabeth Malloy
Physician Restrictive Covenants: The Neglect Of The Incompetent Patients' Interests, S. Elizabeth Malloy
Faculty Articles and Other Publications
The article examines how courts in different jurisdictions have addressed restrictive employment covenants for physicians and proposes a new approach drawn from the third-party beneficiary analysis in contract law. Physicians hired into existing practices often must sign substantial non-compete agreements. In evaluating the enforceability of any restrictive covenant, courts consider, among other factors, the agreement's effect on the public. Surprisingly, the vast majority of jurisdictions treat the "public interest" analysis vis-a-vis physician restrictive covenants no differently than any other commercial restrictive covenant; this approach neglects the impact that such agreements can have on a physician's existing patients. Although at first …
Critical Interventions: Toward An Expansive Equality Approach To The Doctrine Of Good Faith In Contract Law, Emily Houh
Critical Interventions: Toward An Expansive Equality Approach To The Doctrine Of Good Faith In Contract Law, Emily Houh
Faculty Articles and Other Publications
This article argues that courts should use the doctrine of good faith in contract law to prohibit improper considerations of race in contract formation and performance, and should recognize good faith as a device for eliminating racial subordination that can function beyond the scope of conventional civil rights discourse. Although civil rights laws provide important remedies to victims of discrimination, the elimination of racial subordination cannot remain the exclusive domain of civil rights law. Rather, other substantive areas of law can and should incorporate expansive equality principles to achieve that end. For example, this article demonstrates how the implied obligation …
Blame It On Rio: Biodiscovery, Native Title, And Traditional Knowledge, Matthew Rimmer
Blame It On Rio: Biodiscovery, Native Title, And Traditional Knowledge, Matthew Rimmer
Aboriginal Policy Research Consortium International (APRCi)
This article examines the legal responses to protect traditional knowledge of biodiversity in the wake of the Rio Convention on Biological Diversity. It considers the relative merits of the inter- locking regimes of contract law, environmental law, intellectual property law, and native title law. Part 1 considers the natural drug discovery industry in Australia. In particular , it looks at the operations of Amrad, Astra Zeneca R & D, and the Australian Institute of Marine Science. This section examines the key features of the draft regulations proposed under the Environment Protection and Biodiversity Conservation Act 1999 (Cth) - model contracts, …
Nonmaterial Misrepresentation: Damages, Rescission, And The Possibility Of Efficient Fraud, Emily Sherwin
Nonmaterial Misrepresentation: Damages, Rescission, And The Possibility Of Efficient Fraud, Emily Sherwin
Cornell Law Faculty Publications
Buried in the details of legal doctrine governing misrepresentation is a remedial anomaly that raises some interesting questions about how law should deal with moral wrongs such as fraud. We tend to think of deliberate deception--fraud--as a grave moral wrong. At least, we think of deception as gravely wrong when the deceiver's objective is not to avert harm or spare feelings, but to obtain someone's money or goods. Deception denies the autonomy of the person deceived and undermines the foundation of trust in human interaction. The law, however, does not penalize every instance of fraud. Moreover, the standards governing when …
Red Owl's Legacy, Gregory M. Duhl
Red Owl's Legacy, Gregory M. Duhl
Faculty Scholarship
In the early 1960s, Joseph Hoffman, a high school graduate, baker and father of seven, sought to obtain a Red Owl grocery store franchise in Wisconsin. He entered into negotiations with Red Owl Stores, Inc. after the franchisor assured him that the $18,000 he had to invest in the franchise was sufficient. Over the course of the negotiations, Red Owl encouraged Hoffman to sell his bakery, buy a small grocery store to gain experience in the grocery business, sell his grocery store three months later, and move his family to the desired location for his Red Owl franchise. The negotiations …
Beyond Words: An Empirical Study Of Context In Contract Creation, Deborah A. Schmedemann
Beyond Words: An Empirical Study Of Context In Contract Creation, Deborah A. Schmedemann
Faculty Scholarship
This article reports on an empirical study into how judges interpret contracts. In general, the study demonstrates that key participants do look to context for guidance on issues of contract creation. Part II summarizes the modem legal perspective on these questions, as stated in the Restatement (Second) of Contracts, as posited in the scholarly debate about relational contracts, and as exemplified in case law regarding employment contracts. Part III describes a study designed to capture the thinking on these questions of participants in an employment contract. Part IV presents the results obtained from respondents who represented the parties to the …
The Sense And Nonsense Of Web Site Terms Of Use Agreements, Sharon Sandeen
The Sense And Nonsense Of Web Site Terms Of Use Agreements, Sharon Sandeen
Faculty Scholarship
This article examines the purpose, use and enforceability of TOUs. In so doing it looks beyond the common question of whether TOUs are enforceable to ask whether and under what circumstances TOUs are necessary. This article explores whether the nature of the Internet is so different from the brick-and-mortar world that TOUs are needed for web sites but not for retail stores. A review of many of the existing TOUs reveals that major differences exist in the number and nature of their provisions. On one extreme are the TOUs of companies like Disney, Barnes and Noble and Amazon that apparently …
Transactional Mediation: Using Mediators In Deals, Scott Peppet
Transactional Mediation: Using Mediators In Deals, Scott Peppet
Publications
This article addresses whether third-party mediators could be helpful in deal-making, just as they are in resolving disputes. It makes a theoretical case for such use of mediators and presents preliminary evidence that transactional mediation already is taking place.
Message Deleted? Resolving Physician-Patient E-Mail Through Contract Law, Michael Mccann
Message Deleted? Resolving Physician-Patient E-Mail Through Contract Law, Michael Mccann
Law Faculty Scholarship
This article examines the impact of e-mail on the physician-patient relationship, and how contract law can resolve the uncertainties incumbent in this nascent form of communication. Significantly, courts have yet to indicate when the physician-patient relationship begins by e-mail, or to what extent e-mail affects the duties of the relationship. Instead of waiting for judicial guidance, physicians and patients can employ specialized contracts to clarify the role that e-mail plays in their relationship. As a result, more physicians and patients will regard e-mail correspondence as a valuable means of communication, and a tool for improving the quality of health care …
You Asked For It, You Got It … Toy Yoda: Practical Jokes, Prizes, And Contract Law, Keith A. Rowley
You Asked For It, You Got It … Toy Yoda: Practical Jokes, Prizes, And Contract Law, Keith A. Rowley
Scholarly Works
For what seemed to be a simple contract dispute, Berry v. Gulf Coast Wings Inc. garnered an unusual amount of attention in both the legal and popular press. Former Hooters waitress Jodee Berry sued her ex-employer for breaching its promise to award a new Toyota to the winner of an April 2001 sales contest. Berry alleged that her manager, Jared Blair, told the waitresses at the Hooters where she worked at the time that whoever sold the most beer at each participating location during April 2001 would be entered in a drawing, the winner of which would receive a new …
Closing The Deal In Contracts: Introducing Transactional Skills In The First Year, David Snyder
Closing The Deal In Contracts: Introducing Transactional Skills In The First Year, David Snyder
Articles in Law Reviews & Other Academic Journals
No abstract provided.
Contractarian Economics And Mediation Ethics: The Case For Customizing Neutrality Through Contingent Fee Mediation, Scott R. Peppet
Contractarian Economics And Mediation Ethics: The Case For Customizing Neutrality Through Contingent Fee Mediation, Scott R. Peppet
Publications
No abstract provided.
Secret Settlements And Practice Restrictions Aid Lawyer Cartels And Cause Other Harms, Susan P. Koniak, David Dana
Secret Settlements And Practice Restrictions Aid Lawyer Cartels And Cause Other Harms, Susan P. Koniak, David Dana
Faculty Scholarship
In this article, the authors argue that the use of secrecy agreements and practice restrictions in settlement contracts should be prohibited not only by the ethics rules, but also by criminal and civil law. The authors begin by discrediting four arguments that are traditionally employed to support the use of secrecy agreements and practice restrictions. They then argue that the use of secrecy agreements and practice restrictions generate substantial costs, but do not secure any legitimate benefits that could not be attained by other, less costly means. The authors also explain how the problems caused by secrecy agreements and practice …
Anticipatory Repudiation Of Letters Of Credit, Keith A. Rowley
Anticipatory Repudiation Of Letters Of Credit, Keith A. Rowley
Scholarly Works
Letters of credit play a vital role in financing international transactions, and are becoming increasingly popular domestically as substitutes for more traditional secured financing. As such, they deserve substantially more scholarly attention than they receive outside of specialized treatises and banking trade publications. Moreover, as unilateral promises by issuers of the letters of credit to pay money to their beneficiaries, the fact that Article 5 of the Uniform Commercial Code and pre-UCC common law recognize the right of a beneficiary to sue for anticipatory repudiation is at odds with the prevailing rule in this country that a promisee cannot sue …
Rights Of Access And The Shape Of The Internet, Michael J. Madison
Rights Of Access And The Shape Of The Internet, Michael J. Madison
Articles
This Article reviews recent developments in the law of access to information, that is, cases involving click-through agreements, the doctrine of trespass to chattels, the anti-circumvention provisions of the Digital Millennium Copyright Act, and civil claims under the Computer Fraud and Abuse Act. Though the objects of these different doctrines substantially overlap, the different doctrines yield different presumptions regarding the respective rights of information owners and information consumers. The Article reviews those presumptions in light of different metaphorical premises on which courts rely: Internet-as-place, in the trespass, DMCA, and CFAA contexts, and contract-as-assent, in the click-through context. It argues that …
Reconstructing The Software License, Michael J. Madison
Reconstructing The Software License, Michael J. Madison
Articles
This article analyzes the legitimacy of the software license as a institution of governance for computer programs. The question of the open source license is used as a starting point. Having conducted a broader inquiry into the several possible bases for the legitimacy of software licensing in general, the article argues that none of the grounds on which software licensing in general rests are sound. With respect to open source software in particular, the article concludes that achieving a legitimate institutional form for the goals that open source proponents have set for themselves may require looking beyond licensing as such.
Arbitration, Consent And Contractual Theory: The Implications Of Eeoc V.Waffle House, Jaime L. Dodge, Elizabeth Pollman
Arbitration, Consent And Contractual Theory: The Implications Of Eeoc V.Waffle House, Jaime L. Dodge, Elizabeth Pollman
All Faculty Scholarship
Consent has long been the foundation of arbitration, giving the process legitimacy and informing decisions about its nature and structure. The Supreme Court has consistently required consent as a precondition for compelling arbitration. However, it remains unclear what actions constitute consent. In First Options v. Kaplan,1 the Supreme Court held that courts should apply state contract law to determine whether an arbitral clause exists, but “added an important qualification” that “[c]ourts should not assume that the parties have agreed to arbitrate unless there is clear and unmistakable evidence that they did so.”2 In the wake of First Options, the courts …
A Theory Of Self-Enforcing Indefinite Agreements, Robert E. Scott
A Theory Of Self-Enforcing Indefinite Agreements, Robert E. Scott
Faculty Scholarship
One of the core principles of contract law is the requirement of definiteness. Conventional wisdom holds, however, that the indefiniteness doctrine is largely ignored by courts. In this Article, Professor Scott examines the contemporary case law on indefinite contracts and his review yields three striking findings. First, there is a surprisingly high volume of litigation. Second, the indefiniteness doctrine lives on in the common law of contracts. Third, a large number of the indefiniteness cases involve contracts that are "deliberately" incomplete – that is, parties have declined to condition performance on available, verifiable measures that could be specified in the …
Closing The Deal In Contracts: Introducing Transactional Skills In The First Year, David V. Snyder
Closing The Deal In Contracts: Introducing Transactional Skills In The First Year, David V. Snyder
Articles by Maurer Faculty
No abstract provided.
Contract Theory And The Limits Of Contract Law, Alan Schwartz, Robert E. Scott
Contract Theory And The Limits Of Contract Law, Alan Schwartz, Robert E. Scott
Faculty Scholarship
Contract law has neither a complete descriptive theory, explaining what the law is, nor a complete normative theory, explaining what the law should be. These gaps are unsurprising given the traditional definition of contract as embracing all promises that the law will enforce. Even a theory of contract law that focuses only on the enforcement of bargains must still consider the entire continuum from standard form contracts between firms and consumers to commercial contracts among businesses. No descriptive theory has yet explained a law of contract that comprehends such a broad domain. Normative theories that are grounded in a single …
Engineering A Venture Capital Market: Lessons From The American Experience, Ronald J. Gilson
Engineering A Venture Capital Market: Lessons From The American Experience, Ronald J. Gilson
Faculty Scholarship
The venture capital market and firms whose creation and early stages were financed by venture capital are among the crown jewels of the American economy. Beyond representing an important engine of macroeconomic growth and job creation, these firms have been a major force in commercializing cutting-edge science, whether through their impact on existing industries as with the radical changes in pharmaceuticals catalyzed by venture-backed firms' commercialization of biotechnology, or by their role in developing entirely new industries as with the emergence of the Internet and World Wide Web. The venture capital market thus provides a unique link between finance and …
Whose Deal Is It? Teaching About Structural Inequality By Teaching Contracts Transactionally, Kellye Y. Testy
Whose Deal Is It? Teaching About Structural Inequality By Teaching Contracts Transactionally, Kellye Y. Testy
Articles
Although Scott Burnham and others have urged the use of more contracts to teach Contracts for some time,'9 it is safe to say that the majority of Contracts courses in the United States do not put actual contracts front and center. While particular phrases or provisions surely are referenced in the steady diet of appellate decisions that comprise the first-year course, those decisions very rarely include the actual contract at issue for study. Moreover, in the increased compression of the first year course," few professors believe they can justify the time for transactional exercises or simulations in the rush to …
Summary Of Harris Assoc. V. Clark County Sch. Dist., Beth Rosenblum
Summary Of Harris Assoc. V. Clark County Sch. Dist., Beth Rosenblum
Nevada Supreme Court Summaries
Appeal from a judgment by the Eighth Judicial District Court, State of Nevada, denying the appellant’s motion to compel arbitration.