Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Reviving Jacob And Youngs, Inc. V. Kent: Material Breach Doctrine Reconsidered, Amy B. Cohen
Reviving Jacob And Youngs, Inc. V. Kent: Material Breach Doctrine Reconsidered, Amy B. Cohen
Faculty Scholarship
Determining whether a material breach has occurred under current law involves a weighing of several factors, a determination that often seems either completely without logic or precision, or self-evident and conclusory. Thus, parties are left not knowing what to do and what risks they may be assuming. The problem with the current application of material breach doctrine is in large part a result of an absence of focus. The courts apply the test without articulating any foundation or context on which it is based. The law in this area could be much improved if courts would return to Judge Cardozo ...
An Economic Analysis Of The Guaranty Contract, Avery W. Katz
An Economic Analysis Of The Guaranty Contract, Avery W. Katz
Faculty Scholarship
Guaranty arrangements, in which one person stands as surety for a second person's obligation to a third, are ubiquitous in commercial transactions and in commercial law. In recent years, however, scholarly attention to the topic has been scant; and there is still no theoretical treatment of this body of law or practice from a economic policy perspective. This paper, accordingly, attempts to outline the basic economic logic underlying the guaranty relationship, and applies the results to a variety of specific issues in government policy and private planning. It poses and answers three main questions: First, why would a creditor ...