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Toward A Theory Of Motion Practice And Settlement: Comment, Adam C. Pritchard
Toward A Theory Of Motion Practice And Settlement: Comment, Adam C. Pritchard
Articles
"Scott Baker (2017) has provided a thought-provoking contribution to this symposium volume, helping us to better understand the strategic game of litigation. In terms of both resources and actual disputes resolved, pretrial practice is vastly more important than actual trials. Trials are a rarity in the American civil justice system, as the overwhelming majority of disputes are resolved via settlement. Indeed, rational-choice scholars have struggled to explain why all disputes are not resolved via settlement, as settlement avoids the expense of a trial, which is a dead-weight loss to both sides of the dispute. The parties’ mutual incentive toward settlement …
The Separation Of Corporate Law And Social Welfare, William W. Bratton
The Separation Of Corporate Law And Social Welfare, William W. Bratton
All Faculty Scholarship
A half century ago, corporate legal theory pursued an institutional vision in which corporations and the law that creates them protect people from the ravages of volatile free markets. That vision was challenged on the ground during the 1980s, when corporate legal institutions and market forces came to blows over questions concerning hostile takeovers. By 1990, it seemed like the institutions had won. But a different picture has emerged as the years have gone by. It is now clear that the market side really won the battle of the 1980s, succeeding in entering a wedge between corporate law and social …
Trust Decanting: A Critical Perspective, Stewart E. Sterk
Trust Decanting: A Critical Perspective, Stewart E. Sterk
Faculty Articles
Until recently, a party seeking modification of an irrevocable trust needed approval from all interested parties, or from a court. The last decade, however, has brought a flood of state legislation authorizing trust decanting – a process by which a trustee “decants” trust assets from one vessel (the original irrevocable trust) into a second vessel (a new trust with terms designed to reflect the settlor’s supposed intent). Most recently, the Uniform Law Commissioners have, in 2015, promulgated the Uniform Trust Decanting Act.Decanting enable trustees and trust beneficiaries to avoid the cost associated with judicial modification in cases where the irrevocable …