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Full-Text Articles in Law

Demand Promissory Notes And Commercial Loans: Balancing Freedom Of Contract & Good Faith, George A. Nation Iii Nov 2014

Demand Promissory Notes And Commercial Loans: Balancing Freedom Of Contract & Good Faith, George A. Nation Iii

George A Nation III

Promissory notes are ubiquitous in commercial lending. The promissory note represents the borrowers promise to repay and is governed by the Uniform Commercial Code’s Article 3. Under Article 3, promissory notes are either demand instruments or time instruments. In general, the holder of a demand instrument may decide to demand payment at any time and for any reason, while the holder of a time note must wait for payment until the arrival of the specific repayment date or dates included in the note. For this reason, time notes usually contain an acceleration clause. An acceleration clause allows the holder to …


Enlarged State Power To Declare Nullity: The Hidden State Interest In The Chinese Contract Law, Hao Jiang Esq. Oct 2014

Enlarged State Power To Declare Nullity: The Hidden State Interest In The Chinese Contract Law, Hao Jiang Esq.

Hao Jiang Esq.

This article is on the hidden state interest that article 52(§1) of the Chinese Contract Law protects and the questionable applicability of freedom of contract to Chinese state-owned enterprises (hereafter “SOEs”). In common law, fraud and duress make a contract voidable. In Western civil law jurisdictions, including Louisiana, fraud and duress make a contract relatively null. Article 52(§1) of the Chinese Contract Law renders a contract induced by fraud and duress absolutely null (null and void if using common law terminology) when state interest is harmed. At the same time, according to article 54 of the Contract Law, fraud and …


Illegal Agreements And The Lesser Evil Principle, Chunlin Leonhard Sep 2014

Illegal Agreements And The Lesser Evil Principle, Chunlin Leonhard

Chunlin Leonhard

Illegal agreement disputes force U.S. courts to wrestle with multiple competing interests. The courts’ approach has been generally explained and understood in terms of the general rule of non-enforcement of illegal agreements with numerous exceptions. The case law on this topic has been described as “a vast, confusing and rather mysterious area of the law.” This article offers the insight that, contrary to common belief, courts’ approach to illegal agreements shows a consistent pattern. A review of randomly selected cases shows that the courts have by and large consistently (albeit implicitly) applied the lesser evil principle in resolving the disputes. …


Incorporating The Third Party Beneficiary Principle In Natural Resource Contracts, James T. Gathii Aug 2014

Incorporating The Third Party Beneficiary Principle In Natural Resource Contracts, James T. Gathii

James Thuo Gathii

Third world citizens—parties who often have the most to lose in natural resource contracts between their governments and foreign investors—often have no voice in negotiations of the contracts and consequently have no remedy under contract law when harms occur or when the contracts are not properly enforced. The privity doctrine, which permits contract suits only by parties to the contract, bars these citizens from suing because they were not in privity with any of the contracting parties, despite that these contracts are generally made for the benefit of these citizens. However, some countries have adopted—and this Essay argues other countries …


Context Matters--What Lawyers Say About Choice Of Law Decisions In Merger Agreements, Juliet P. Kostritsky Aug 2014

Context Matters--What Lawyers Say About Choice Of Law Decisions In Merger Agreements, Juliet P. Kostritsky

Juliet P Kostritsky

ABSTRACT: The study of choice of law provisions in merger agreements yields various theories as to how much thought parties put into them, and what factors influence such decisions. Eisenberg and Miller found a shift to New York law and other scholars later hypothesized that parties specify New York law rather than Delaware law because New York law is more formalistic. However, a study of 343 merger agreements, consisting of 15 lawyer interviews and a survey sent to 812 lawyers, suggests differently. First, there is no shift from Delaware to New York. Second, a desire for formalistic law is not …


Regulatory Institutions Of The Global South: Why Are They Different And What Can Be Done About It?, Yugank Goyal Aug 2014

Regulatory Institutions Of The Global South: Why Are They Different And What Can Be Done About It?, Yugank Goyal

Yugank Goyal

Developing countries suffer from underperforming regulatory agencies compared to those in the developed world. The paper attempts to theorize general reasons behind such divergence. It argues that the differences lie in developing countries’ (a) higher priorities for redistribution, (b) structurally different institutional endowments, especially at informal level, and (c) limited informational channels. The paper proposes that a multi-stakeholder (with increased emphasis on judiciary and civil society) approach has potential to address the shortcomings. It tests these claims through studying cases of telecom and electricity regulation in India.


Avoiding The Road To Ferc-Dom: The Supreme Court Affirms The Right To Contract In Morgan Stanley V. Snohomish, Jorge A. Mestre Aug 2014

Avoiding The Road To Ferc-Dom: The Supreme Court Affirms The Right To Contract In Morgan Stanley V. Snohomish, Jorge A. Mestre

Jorge A Mestre

No abstract provided.


A European Solution To America’S Basketball Problem: Reforming Amateur Basketball In The United States, Jaimie K. Mcfarlin, Joshua Lee Aug 2014

A European Solution To America’S Basketball Problem: Reforming Amateur Basketball In The United States, Jaimie K. Mcfarlin, Joshua Lee

Jaimie K. McFarlin

The system of amateur and collegiate basketball in America is flawed, as every year, thousands of young men and women pursue their basketball dreams under the shadow of a multi-million dollar, predatory business model. Integral to telling the history of the NCAA and AAU organizations are recruiting horror stories and other examples of young talents who were taken advantage of by unscrupulous actors, both of which continue today. The commercialization and professionalization of amateur basketball has fed an ecosystem of exploitation in which private actors and institutions capitalize on the American mantra of "amateurism." The European system of amateur athletics …


Short-Circuiting Contract Law: The Federal Circuit's Contract Law Jurisprudence And Intellectual Property Federalism, Shubha Ghosh Aug 2014

Short-Circuiting Contract Law: The Federal Circuit's Contract Law Jurisprudence And Intellectual Property Federalism, Shubha Ghosh

Shubha Ghosh

The Federal Circuit was established in 1982 as an appellate court with limited jurisdiction over patent claims. However, the Federal Circuit has used this limited jurisdiction to expand its reach into contract law, developing a federal common law of contract. Given the growing importance of patent litigation in the past three decades, this creation of an independent body of contract law creates uncertainty in transactions involving patents. This troublesome development received attention in Stanford v Roche, a 2011 Supreme Court decision upholding the Federal Circuit's invalidation of a patent assignment to Stanford University. This Article documents the development of …


Commodification Of The Female Egg: Stem Cell Technology And The Future, Rachel Rose Ostrander Jun 2014

Commodification Of The Female Egg: Stem Cell Technology And The Future, Rachel Rose Ostrander

Rachel Rose Ostrander

As the science of stem cell research progresses it is difficult to tell what implications it will have on our society and for women. I will begin this discussion by examining how science has viewed women in the past, and use this as a basis to conjecture about how they will be viewed and treated in the future. Prevalent gender bias in scientific writing should be a cause for concern as the science of stem cell research and commodification of the female egg becomes more of a reality.

The process of egg donation has stirred much debate in the feminist …


Bioprospecting And Biolaw In Brazil: Uncertainties In The Legal And Executory Context, Wilson Jesus Beserra Almeida Professor Apr 2014

Bioprospecting And Biolaw In Brazil: Uncertainties In The Legal And Executory Context, Wilson Jesus Beserra Almeida Professor

Wilson Jesus Beserra Almeida

This study aims to investigate the regulation of Bioprospecting in Brazil, especially in regard to the appropriateness of the legislation to the principles of the Convention on Biological Diversity (CBD) and the Trade-Related Aspects of Intellectual Property Rights (TRIPS) as well as to assert about the care that has been afforded in the covenants contained in clauses signed between Brazil and other countries, in order to preserve the diversity and integrity of the genetic patrimony of the country.


Contract Resurrected! Contract Formation: Common Law ~ Ucc ~ Cisg, Sarah H. Jenkins Apr 2014

Contract Resurrected! Contract Formation: Common Law ~ Ucc ~ Cisg, Sarah H. Jenkins

Sarah H Jenkins

Contract Resurrected!

After the promulgation of the Restatement (Second) of the Law of Contracts with its expanded theory of Section 90, quasi-contract and promissory estoppel were hailed as the only theories needed for recovery. Contract was dead! This was the dominant prospective regarding the continued efficacy of contract and contract law. The contract theorists were wrong. The mushrooming global interdependency among nations demands legal rules and principles to govern exchanges between businesses and reaffirms the value of contract as a juridical tool. The United Nations Convention on Contracts for the International Sale of Goods as a recent promulgation reaffirms the …


Let Educators Educate, Let Builders Build: Making A Case For School Facility Privatization, John Pizzo Mar 2014

Let Educators Educate, Let Builders Build: Making A Case For School Facility Privatization, John Pizzo

John Pizzo

No abstract provided.


In Defense Of Surrogacy Agreements: A Modern Contract Law Perspective, Yehezkel Margalit Mar 2014

In Defense Of Surrogacy Agreements: A Modern Contract Law Perspective, Yehezkel Margalit

Hezi Margalit

The American public’s attention was first exposed to the practice of surrogacy in 1988 with the drama and verdict of the Baby M case. Over the last twenty-five years the practice of surrogacy has slowly but surely become increasingly socially accepted and even welcomed. This evolution serves to emphasize the bizarre judicial and legislative silence regarding surrogacy that exists today in the vast majority of U.S. jurisdictions. In this article I describe and trace the dramatic revolution that took place during the recent decades as the surrogacy practice has totally changed from one viewed as problematic and rejected to a …


Demanding Supply: The Bioenergy Farm Lease’S Critical Role In Biomass Supply Chain Optimization, A. Bryan Endres, Elise C. Scott Mar 2014

Demanding Supply: The Bioenergy Farm Lease’S Critical Role In Biomass Supply Chain Optimization, A. Bryan Endres, Elise C. Scott

A. Bryan Endres

As the bioenergy industry in the U.S. expands to meet increased demands for transportation fuel under the Renewable Fuel Standard and electrical power under state Renewable Portfolio Standards, farmers will seek the ability to grow dedicated, high-yielding energy crops of a perennial nature on leased property. Given the large amount of farmland in the U.S. that is leased, such contributions will represent a significant, though currently not well understood, portion of the biofuel industry supply chain. Through the use of contracts as governance schemes, the parties to a bioenergy farm lease can navigate three key areas of such a lease: …


Deals Or No Deals: Integrating Transactional Skills In The First Year Curriculum, Lynnise E. Pantin Mar 2014

Deals Or No Deals: Integrating Transactional Skills In The First Year Curriculum, Lynnise E. Pantin

Lynnise E. Pantin

No abstract provided.


The Evolution Of The Digital Millennium Copyright Act; Changing Interpretations Of The Dmca And Future Implications For Copyright Holders, Hillary A. Henderson Jan 2014

The Evolution Of The Digital Millennium Copyright Act; Changing Interpretations Of The Dmca And Future Implications For Copyright Holders, Hillary A. Henderson

Hillary A Henderson

Copyright law rewards an artificial monopoly to individual authors for their creations. This reward is based on the belief that, by granting authors the exclusive right to reproduce their works, they receive an incentive and means to create, which in turn advances the welfare of the general public by “promoting the progress of science and useful arts.” Copyright protection subsists . . . in original works of authorship fixed in any tangible medium of expression, now known or later developed, from which they can be perceived, reproduced, or otherwise communicated, either directly or with the aid of a machine or …


Mutual Assent, Normative Degradation And Mass Market Standard Form Contracts--A Critique Of Boilerplate: The Fine Print, Vanishing Rights And The Rule Of Law, Part I, Steven Feldman Jan 2014

Mutual Assent, Normative Degradation And Mass Market Standard Form Contracts--A Critique Of Boilerplate: The Fine Print, Vanishing Rights And The Rule Of Law, Part I, Steven Feldman

Steven Feldman

Analyzing a difficult subject that pervades contract law and which is vital to the national economy, many scholars have written about boilerplate contracts. With her 2013 book, Boilerplate: The Fine Print, Vanishing Rights And The Rule Of Law, Professor Margaret Jane Radin weighs in on the discussion, rejecting utilitarian-welfare notions that economic efficiency can justify the extensive use of mass market boilerplate. In her main contention, Radin argues that mass market standard form contracts improperly degrade consumer rights in the area of voluntary consent (herein “normative degradation”).

Although her book has achieved great renown, receiving high praise from prominent commentators, …


Boilerplate Shock, Gregory Shill Jan 2014

Boilerplate Shock, Gregory Shill

Gregory Shill

No nation was spared in the recent global downturn, but several countries in the Eurozone arguably took the hardest punch, and they are still down. Doubts about the solvency of Greece, Spain, and a number of their neighbors are increasing the likelihood of a breakup of the common European currency. Observers believe a single departure and sovereign debt default might set off a “bank run” on the euro, with devastating regional and global consequences.

What mechanisms are available to address—or ideally, to prevent—such a disaster?

One unlikely candidate is boilerplate language in the contracts that govern Eurozone sovereign bonds. As …


Public Policy Considerations Concerning Insurance Bad Faith And Residual Market Mechanisms, Chad G. Marzen Jan 2014

Public Policy Considerations Concerning Insurance Bad Faith And Residual Market Mechanisms, Chad G. Marzen

Chad G. Marzen

The question of whether first-party insurance bad faith liability should be extended upon a state-run property insurer is an unresolved one in many jurisdictions. This article contributes to the contemporary literature regarding bad faith in insurance by comprehensively analyzing the history of, the nature of the claims associated with, and public policies concerning the imposition of bad faith liability upon state-run property insurers. This article makes it contribution by arguing the courts should not impose first-party bad faith liability on state-run property insurers who operate in the residual property insurance market.