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Articles 1 - 30 of 44
Full-Text Articles in Law
From Plyler V. Doe To Trayvon Martin: Toward Closing The Open Society, Lyle Dennison
From Plyler V. Doe To Trayvon Martin: Toward Closing The Open Society, Lyle Dennison
Washington and Lee Law Review
Lyle Denniston, the longest serving and most experienced journalist covering the United States Supreme Court, takes his theme of an inclusive and open society from the constitutional and cultural vision of the late Justice Lewis F. Powell, Jr. and then offers a detailed argument that America is forfeiting—or at least compromising—that vision in favor of a safer, more secure and more cramped society, at home and abroad. The Article, taken from a memorial lecture in Justice Powell’s honor at Washington and Lee University in April 2012, draws upon a variety of very different societal and legal developments that are found …
The Power Of A Suggestion: The Use Of Forum Selection Clauses By Delaware Corporations, Thomas T. Mcclendon
The Power Of A Suggestion: The Use Of Forum Selection Clauses By Delaware Corporations, Thomas T. Mcclendon
Washington and Lee Law Review
No abstract provided.
A Case Against The Entire Market Value Rule, Anthony D. Raucci
A Case Against The Entire Market Value Rule, Anthony D. Raucci
Washington and Lee Law Review
No abstract provided.
Contingent Capital In Executive Compensation, Wulf A. Kaal
Contingent Capital In Executive Compensation, Wulf A. Kaal
Washington and Lee Law Review
Contingent capital has great potential to improve corporate governance in Systemically Important Financial Institutions (SIFIs). Early initiatives by European SIFIs to include contingent convertible bonds in executive compensation packages lack governance-improving designs. This Article suggests the use of contingent convertible bonds with an early conversion trigger in executive compensation. The proposal adds an important element to the literature on inside debt and the creditor-centered approach to executive compensation. Contingent convertible bonds with early triggers could be preferable to other debt instruments because, in addition to lowering income inequality and increasing sustainability, the early trigger design can improve incentives for executives …
Illuminating Innovation: From Patent Racing To Patent War, Lea Shaver
Illuminating Innovation: From Patent Racing To Patent War, Lea Shaver
Washington and Lee Law Review
Patent law assumes that stronger protection promotes innovation, yet empirical evidence to test this “innovation hypothesis” is lacking. This Article argues that historical case studies hold unique promise to provide an empirical foundation for modern patent policy. Specifically, this Article uses the history of patents surrounding the light bulb to examine a recently articulated theory of “patent racing” as a justification for patent protection. Thomas Edison’s experience confirms that Mark Lemley’s racing model has substantial descriptive merit. Yet this case study also reveals the limits of the patent racing model. Looking past the initial finish line of patent filings to …
The Law School Critique In Historical Perspective, A. Benjamin Spencer
The Law School Critique In Historical Perspective, A. Benjamin Spencer
Washington and Lee Law Review
Contemporary critiques of legal education abound. This arises from what can be described as a perfect storm: the confluence of softness in the legal employment market, the skyrocketing costs of law school, and the unwillingness of clients and law firms to continue subsidizing the further training of lawyers who failed to learn how to practice in law school. As legal jobs become increasingly scarce and salaries stagnate, the value proposition of law school is rightly being questioned from all directions. Although numerous valid criticisms have been put forth, some seem to be untethered from a full appreciation for how the …
Limiting The Legislative Privilege: Analyzing The Scope Of The Speech Or Debate Clause, Kelly M. Mcguire
Limiting The Legislative Privilege: Analyzing The Scope Of The Speech Or Debate Clause, Kelly M. Mcguire
Washington and Lee Law Review
No abstract provided.
The Real Error In Citizens United, Joanna M. Meyer
The Real Error In Citizens United, Joanna M. Meyer
Washington and Lee Law Review
No abstract provided.
The Physical Consequences Of Emotional Distress: The Need For A New Test To Determine What Amounts Are Excluded From Gross Income Under § 104(A)(2), C. Anthony Wolfe Iv
The Physical Consequences Of Emotional Distress: The Need For A New Test To Determine What Amounts Are Excluded From Gross Income Under § 104(A)(2), C. Anthony Wolfe Iv
Washington and Lee Law Review
No abstract provided.
Do End-Users Get The Best Of Both Worlds?—Title Vii Of Dodd–Frank And The End-User Exception, Carney Simpson
Do End-Users Get The Best Of Both Worlds?—Title Vii Of Dodd–Frank And The End-User Exception, Carney Simpson
Washington and Lee Law Review
No abstract provided.
Justice In The Shadowlands: Pretrial Detention, Punishment, & The Sixth Amendment, Laura I. Appleman
Justice In The Shadowlands: Pretrial Detention, Punishment, & The Sixth Amendment, Laura I. Appleman
Washington and Lee Law Review
In a criminal system that tips heavily to the side of wealth and power, we routinely detain the accused in often horrifying conditions, confined in jails while still maintaining the presumption of innocence. Here, in the rotting jail cells of impoverished defendants, lies the Shadowlands of Justice, where the lack of criminal procedure has produced a darkness unrelieved by much scrutiny or concern on the part of the law. This Article contends that our current system of pretrial detention lies in shambles, routinely incarcerating the accused in horrifying conditions often far worse than those of convicted offenders in prisons. Due …
Beyond War: Bin Laden, Escobar, And The Justification Of Targeted Killing, Luis E. Chiesa, Alexander K. A. Greenawalt
Beyond War: Bin Laden, Escobar, And The Justification Of Targeted Killing, Luis E. Chiesa, Alexander K. A. Greenawalt
Washington and Lee Law Review
Using the May 2011 killing of Osama bin Laden as a case study, this Article contributes to the debate on targeted killing in two distinct ways, each of which has the result of downplaying the centrality of international humanitarian law (IHL) as the decisive source of justification for targeted killings. First, we argue that the IHL rules governing the killing of combatants in wartime should be understood to apply more strictly in cases involving the targeting of single individuals, particularly when the targeting occurs against nonparadigmatic combatants outside the traditional battlefield. As applied to the bin Laden killing, we argue …
Congress, The Constitution, And Supreme Court Recusal, Louis J. Virelli Iii
Congress, The Constitution, And Supreme Court Recusal, Louis J. Virelli Iii
Washington and Lee Law Review
Recusal is one of the most hotly contested issues facing the Supreme Court. From the wide-ranging debate over Supreme Court recusal, however, a singular theme has emerged: Congress must do more to protect the integrity and legitimacy of the Court by regulating the Justices’ recusal practices. Herein lies the problem. Rather than solve the puzzle of Supreme Court recusal, direct congressional regulation has created an impasse between Congress and the Court that has consequences for the reputation, efficacy, and legitimacy of both Branches. In a precursor to this Article, I recast the issue of Supreme Court recusal as a constitutional …
The Card Act On Campus, Jim Hawkins
The Card Act On Campus, Jim Hawkins
Washington and Lee Law Review
In February 2010, the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act intervened in student credit card markets in a dramatic way, attempting to prevent student over-indebtedness, to end aggressive marketing to college students, and to reveal and change avaricious agreements between credit card issuers and colleges. Yet, two years after it became effective, we still have little measurement of whether the Act has accomplished these goals. This Article offers the first empirical assessment of the rationales for the CARD Act and the Act’s effects. Over the two years since the CARD Act went into effect, I conducted surveys of …
“Waiving” Goodbye To Arbitration: A Contractual Approach, Paul Bennett Iv
“Waiving” Goodbye To Arbitration: A Contractual Approach, Paul Bennett Iv
Washington and Lee Law Review
No abstract provided.
Fatca: Toward A Multilateral Automatic Information Reporting Regime, Joanna Heiberg
Fatca: Toward A Multilateral Automatic Information Reporting Regime, Joanna Heiberg
Washington and Lee Law Review
No abstract provided.
The Virtual Water Cooler And The Nlrb: Concerted Activity In The Age Of Facebook, Lauren K. Neal
The Virtual Water Cooler And The Nlrb: Concerted Activity In The Age Of Facebook, Lauren K. Neal
Washington and Lee Law Review
No abstract provided.
Credit On Wheels: The Law And Business Of Auto-Title Lending, Jim Hawkins
Credit On Wheels: The Law And Business Of Auto-Title Lending, Jim Hawkins
Washington and Lee Law Review
Despite the fact that they are used by millions of Americans, auto-title loans have received little attention in the legal literature about consumer credit. Friends and foes of title lending make confident statements about their net welfare effects, but we still lack empirical data on many of the central policy questions that title lending raises. This Article offers new evidence about the title lending transaction, paying special attention to the risks borrowers face when they use their vehicles as collateral for the loan. I gathered this evidence by obtaining new reports from state regulators about the title lending industry, examining …
Credit And Human Welfare: Lessons From Microcredit In Developing Nations, Alan M. White
Credit And Human Welfare: Lessons From Microcredit In Developing Nations, Alan M. White
Washington and Lee Law Review
Deregulation of usury laws, in the United States and in developing nations, has permitted various forms of small loans to be made to the poor and the working class, sometimes at very high prices. In the case of credit, more is not always better. A human development approach to evaluating the welfare impacts of credit products for the poor asks these questions: does a credit product or program increase income or consumption, achieve savings through investment in capital goods, or smooth consumption and avert crises, all at a reasonable cost? Or does the credit on balance redistribute income away from …
Regulating Online Peer-To-Peer Lending In The Aftermath Of Dodd–Frank: In Search Of An Evolving Regulatory Regime For An Evolving Industry, Eric C. Chaffee, Geoffrey C. Rapp
Regulating Online Peer-To-Peer Lending In The Aftermath Of Dodd–Frank: In Search Of An Evolving Regulatory Regime For An Evolving Industry, Eric C. Chaffee, Geoffrey C. Rapp
Washington and Lee Law Review
The 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act called for a government study of the regulatory options for on-line Peer-to-Peer lending. On-line P2P sites, most notably for-profit sites Prosper.com and LendingClub.com, offer individual “investors” the chance to lend funds to individual “borrowers.” The sites promise lower interest rates for borrowers and high rates of return for investors. In addition to the media attention such sites have generated, they also raise significant regulatory concerns on both the state and federal level. The Government Accountability Office report produced in response to the Dodd–Frank Act failed to make a strong recommendation …
The Damage Of Debt, Katherine Porter
The Damage Of Debt, Katherine Porter
Washington and Lee Law Review
No abstract provided.
After The Great Recession: Regulating Financial Services For Low- And Middle-Income Communities, Ronald J. Mann
After The Great Recession: Regulating Financial Services For Low- And Middle-Income Communities, Ronald J. Mann
Washington and Lee Law Review
No abstract provided.
“Warning: Predatory Lender”—A Proposal For Candid Predatory Small Loan Ordinances, Christopher L. Peterson
“Warning: Predatory Lender”—A Proposal For Candid Predatory Small Loan Ordinances, Christopher L. Peterson
Washington and Lee Law Review
Over a hundred different local governments around the country have adopted ordinances restricting small, high-cost loans. This trend reflects the solid majority of the American public that opposes the legality of triple-digit interest rate loans and the long historical tradition of treating payday and car-title lending as a serious civil offense or even a crime. Nevertheless, perhaps owing to limits on municipal power, local payday lending law has generated relatively little scholarship or commentary. This paper describes the existing local law governing small, high-cost consumer loans and proposes a more emphatic ordinance that better reflects the policy judgment of many …
Foreword For Regulation In The Fringe Economy Symposium, John P. Caskey
Foreword For Regulation In The Fringe Economy Symposium, John P. Caskey
Washington and Lee Law Review
No abstract provided.
Mortgaging Human Capital: Federally Funded Subprime Higher Education, Jean Braucher
Mortgaging Human Capital: Federally Funded Subprime Higher Education, Jean Braucher
Washington and Lee Law Review
The for-profit higher education sector, primarily funded by federal student aid dollars, produces both the highest debts and defaults and lowest completion rates for its students. In response, the U.S. Department of Education (DOE) has promulgated the Gainful Employment Rule to require for-profit colleges and universities to meet either repayment or debt-to-income benchmarks to remain eligible to receive federal Higher Education Act funding. This Article describes the business model of the career colleges and their rapid growth over the last decade, the history of proprietary school regulation, the limited remedies for overindebtedness of former students, and the tests imposed by …
Payday Lending, Bankruptcy, And Insolvency, Richard Hynes
Payday Lending, Bankruptcy, And Insolvency, Richard Hynes
Washington and Lee Law Review
Economic theory suggests that payday lending can either increase or decrease consumer welfare. Consumers can use payday loans to cushion the effects of financial shocks, but payday loans may also increase the chance that consumers will succumb to temptation or cognitive errors and seek instant gratification. Both supporters and critics of payday lending have alleged that the welfare effects of the industry can be substantial and that the legalization of payday lending can even have measurable effects on proxies for financial distress, such as bankruptcy, foreclosure, and property crime. Critics further allege that payday lenders target minority and military communities, …
Congress Protected The Troops: Can The New Cfpb Protect Civilians From Payday Lending?, Creola Johnson
Congress Protected The Troops: Can The New Cfpb Protect Civilians From Payday Lending?, Creola Johnson
Washington and Lee Law Review
In 2007, Congress enacted a law, commonly referred to as the Military Lending Act (MLA), which placed a 36% interest rate cap on several consumer loans, including payday loans, and prohibits lenders from engaging in several practices considered predatory. However, the MLA grants these protections only to active-duty military members and their dependent family members. In the wake of the mortgage foreclosure crisis, Congress passed and President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd–Frank Act), which creates a new federal agency, the Bureau of Consumer Financial Protection (CFPB), to focus on …
The Alliance Between Payday Lenders And Tribes: Are Both Tribal Sovereignty And Consumer Protection At Risk?, Nathalie Martin, Joshua Schwartz
The Alliance Between Payday Lenders And Tribes: Are Both Tribal Sovereignty And Consumer Protection At Risk?, Nathalie Martin, Joshua Schwartz
Washington and Lee Law Review
No abstract provided.
Loan Sharks, Interest-Rate Caps, And Deregulation, Robert Mayer
Loan Sharks, Interest-Rate Caps, And Deregulation, Robert Mayer
Washington and Lee Law Review
The specter of the loan shark is often conjured by advocates of price deregulation in the market for payday loans. If binding price caps are imposed, the argument goes, loan sharks will be spawned. This is the loan-shark thesis. This Article tests that thesis against the historical record of payday lending in the United States since the origins of the quick-cash business around the Civil War. Two different types of creditors have been derided as “loan sharks” since the epithet was first coined. One used threats of violence to collect its debts but the other did not. The former has …
Drug Markets, Fringe Markets, And The Lessons Of Hamsterdam, Lance Mcmillian
Drug Markets, Fringe Markets, And The Lessons Of Hamsterdam, Lance Mcmillian
Washington and Lee Law Review
The Wire is the greatest television series of all-time. Not only that, it is the most important. One of the most memorable story arcs from The Wire’s five seasons is the rise and fall of Hamsterdam—a quasi-legalized drug zone in West Baltimore. Stories are powerful teaching tools because they marry information and context. By seeing how the application of law affects characters we know and care about, we become more attune to the potential effects of legal decisions in the real world. The story of Hamsterdam—which is essentially an attempt to transform a black market into a fringe market—presents just …