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Full-Text Articles in Law
What Can Be Done About Stock Market Volatility, Tamar Frankel
What Can Be Done About Stock Market Volatility, Tamar Frankel
Faculty Scholarship
Volatility is as old as the financial markets. The bull market of 1986 and the crash that followed in 1987 were but the latest of periodic market gyrations that started with the South Sea Bubble and the Lombard Street run on commercial paper and have continued ever since.' Volatility in the financial markets would not be very important if market activity simply mirrored economic activity. Volatility would be much less important if the markets moved independently of the economy. But if we believe, as I do, that the markets and the economy are interdependent, and that their volatility is generally …
The Mandatory Structure Of Corporate Law, Jeffrey N. Gordon
The Mandatory Structure Of Corporate Law, Jeffrey N. Gordon
Faculty Scholarship
It has become standard in the law and economics literature to refer to the corporation as a "nexus of contracts." On this view, the corporate entity is nothing more than a gathering point for a series of contracts, express and implied, among assorted actors: shareholders, bondholders, managers, employees, suppliers and customers, for example. This view rankles some sensibilities, because the economists' conception of a "contract" as an arrangement between two or more actors supported by reciprocal expectations and behavior is far broader than the lawyer's conception, which focuses on the existence of judicially cognizable duties and obligations. Thus the lawyer, …
Foreword: The Economics Of Contract Law, Michael J. Meurer
Foreword: The Economics Of Contract Law, Michael J. Meurer
Faculty Scholarship
The articles in this issue are samples from the burgeoning economics of contract law. They demonstrate that lawyers a can bring economic models to bear on quite specific issues of co offer normative guidance regarding the structure of efficient The success of the symposium and the quality of the articles of this field will continue to flourish. The articles cover a fairly narrow range of contract law issues. The second through sixth articles all address topics involving remedies. Two of these loo at the optimal remedies to be provided by contract law, and the other three are concerned with remedies …
Independent Agencies - Independent From Whom?, Sally Katzen, Edward Markey, James Miller, Joseph Grundfest, R. Gaull Silberman, Peter L. Strauss
Independent Agencies - Independent From Whom?, Sally Katzen, Edward Markey, James Miller, Joseph Grundfest, R. Gaull Silberman, Peter L. Strauss
Faculty Scholarship
No abstract provided.
Rethinking The Regulation Of Coercive Creditor Remedies, Robert E. Scott
Rethinking The Regulation Of Coercive Creditor Remedies, Robert E. Scott
Faculty Scholarship
The phenomenal growth of personal installment credit over the past forty years has generated inevitable pressures for regulatory reform of consumer credit markets. Much of the impetus for consumer protection has stemmed from the perceived abuses that mark the process of coercive collection upon default. Some of these abuses have been identified, quite properly, as the sort of deceptive or fraudulent practices often associated with industries experiencing rapid growth. But other creditor remedies, though troublesome to many observers, cannot be as easily characterized. For example, many critics have challenged the common practice of self-help repossession and resale of consumer goods …