Business Organizations Law Commons^™

Good Faith In The Cisg: Interpretation Problems In Article 7, Benedict C. Sheehy

ExpressO

ABSTRACT: This article examines the dispute concerning the meaning of Good Faith in the CISG. Although there are good reasons for arguing a more limited interpretation or more limited application of Good Faith, there are also good reasons for a broader approach. Regardless of the correct interpretation, however, practitioners and academics need to have a sense of where the actual jurisprudence is going. This article reviews every published case on Article 7 since its inception and concludes that while there is little to suggest a strong pattern is developing, a guided pattern while incorrect doctrinally is preferable to the current …

Evaluating Work: Enforcing Occupational Safety And Health Standards In The United States, Canada And Sweden, Daniel B. Klaff

ExpressO

The United States’ occupational safety and health enforcement system is breaking down. Klaff argues that much of this breakdown has to do with a fundamental lack of worker participation in the United States’ safety and health system. Klaff makes his case by comparing and contrasting the history and enforcement schemes of the United States, Canada, and Sweden. After arguing for economic rights as human rights, Klaff concludes by offering a set of recommendations for the United States’ occupational safety and health system based upon his value-centered analysis.

Thinking Like A Deal Lawyer, Tina L. Stark

Journal of Legal Education

No abstract provided.

Reconsidering The Prohibition Against General Solicitation During Section 3(C)(7) Offerings, Daniel P. Taub

ExpressO

This paper examines the seventy year history of the general solicitation prohibition during private offerings and then analyzes its continuing relevance as applied to Section 3(c)(7) offerings. The S.E.C. Staff recently issued a report questioning the continuing value of prohibiting general solicitation during private offerings made pursuant to Section 3(c)(7) of the Investment Company Act. If the S.E.C. were to follow the recommendation in the S.E.C. Staff Report, this would have tremendous implications for a growing number of hedge funds, and other investment companies utilizing the Section 3(c)(7) exemption. By allowing general solicitation, the S.E.C. would be reversing a policy …

Between Mandate And Market: Contract Transition In The Shadow Of The International Order, Robert B. Ahdieh

Faculty Scholarship

Boilerplate in sovereign debt contracts issued in the United States has long dictated the unanimous consent of bondholders to any debt restructuring. This requirement persisted for decades, notwithstanding wide consensus that such unanimous action provisions increased transaction costs, produced inefficient delays in debt restructuring, enhanced the moral hazards of the sovereign debt market, and otherwise encouraged collective action failures. Yet the sovereign debt markets has recently made an about-face, replacing the unanimity requirement for debt restructuring with a less demanding provision for collective, or majority, action by creditors. Completed over the course of just a few months in 2003, this …

The Importance Of Corporate Models, Benedict C. Sheehy

ExpressO

This article argues that the debate concerning the nature of the corporation is not finished and nor a mere intellectual exercise for interested legal academics. The current model of the corporation as an economic entity—the firm—has a number of imbedded value assumptions. Given the common territory between corporate law and economics, some scholars have come to identify the two as equal partners striving for the same ends. This is a serious error which has had and continues to have significant negative consequences for both the economic situation of the majority and justice in society. These value assumptions are being seriously …

Erisa: Re-Thinking Firestone In Light Of Great-West - Implications For Standard Of Review And The Right To A Jury Trial In Welfare Benefit Claims, 37 J. Marshall L. Rev. 629 (2004), Donald T. Bogan

UIC Law Review

No abstract provided.

Counting The Cash: Disclosure And Cash Balance Plans, 37 J. Marshall L. Rev. 849 (2004), Dana M. Muir

UIC Law Review

No abstract provided.

Facing The Challenge: Corruption State Capture And The Role Of Multinational Business, 37 J. Marshall L. Rev. 1181 (2004), Nikolay A. Ouzounov

UIC Law Review

No abstract provided.

"Don't Let The Sun Go Down On Me:" An In-Depth Look At Opportunistic Business Method Patent Licensing And A Proposed Solution To Allow Small-Defendant Business Method Users To Sing A Happier Tune, 37 J. Marshall L. Rev. 1359 (2004), Andrea Lynn Evensen

UIC Law Review

No abstract provided.

The Boundary Of Personal Jurisdiction: The "Effects Test" And The Protection Of Crazy Horse's Name, 38 J. Marshall L. Rev. 381 (2004), Scott Fruehwald

UIC Law Review

No abstract provided.

Global Antitrust Enforcement: The Sherman Act Does Not Apply Without Any Direct Domestic Effect, But Discovery Assistance May Be Available To Aid A Foreign Tribunal, According To The U.S. Supreme Court, 38 J. Marshall L. Rev. 495 (2004), Sue Ann Mota

UIC Law Review

No abstract provided.

David Pays For Goliath's Mistakes: The Costly Effect Sarbanes-Oxley Has On Small Companies, 38 J. Marshall L. Rev. 671 (2004), Nathan Wilda

UIC Law Review

No abstract provided.

Separations, Blow-Outs, And Fallout: A Treadise On The Regulatory Aftermath Of The Ford-Firestone Tire Recall, 37 J. Marshall L. Rev. 1073 (2004), Kevin M. Mcdonald

UIC Law Review

No abstract provided.

Remembering Pine Gate, 38 J. Marshall L. Rev. 5 (2004), Douglas G. Baird

UIC Law Review

No abstract provided.

Creditors' Rights Risk: A Title Insurer's Perspective, 38 J. Marshall L. Rev. 223 (2004), Paul L. Hammann, John C. Murray

UIC Law Review

No abstract provided.

Securities Law: Proxies Pull Mutual Funds Into The Sunlight: Mandatory Disclosure Of Proxy Voting Records, H. Anne Nicholson

Oklahoma Law Review

No abstract provided.

Valuation Averaging: A New Procedure For Resolving Valuation Disputes, Keith Sharfman

Rutgers Law School (Newark) Faculty Papers

In this Article, Professor Sharfman addresses the problem of "discretionary valuation": that courts resolve valuation disputes arbitrarily and unpredictably, thus harming litigants and society. As a solution, he proposes the enactment of "valuation averaging," a new procedure for resolving valuation disputes modeled on the algorithmic valuation processes often agreed to by sophisticated private firms in advance of any dispute. He argues that by replacing the discretion of judges and juries with a mechanical valuation process, valuation averaging would cause litigants to introduce more plausible and conciliatory valuations into evidence and thereby reduce the cost of valuation litigation and increase the …

An Issue Of Absolution: Section 391 Of The Companies Act, Pearlie Koh

Research Collection Yong Pung How School Of Law

There is an obvious tension in the imposition of directors’ duties. Whilst directors being the management, and therefore the eyes, ears and brain of the corporate person, must be given sufficient discretion to take on entrepreneurial (and hence risky) ventures with a view to profit maximisation, there is also the need to curb excesses, as the potential or opportunity for mismanagement, negligence and fraud is omnipresent. [T]his short article considers section 391 of the Companies Act (Cap 50), arguably the statutory nemesis of directors’ duties. Section 391 gives jurisdiction to the court hearing the case to relieve an officer from …

Once A Director, Always A Fiduciary?, Pearlie Koh

Research Collection Yong Pung How School Of Law

The corporate director is subject to duties of good faith and loyalty. As he stands in a fiduciary position vis-a-vis the company on whose board he sits, he is subject to strict obligations of self-denial. Indeed, ensuring adherence to an absolute rule in this regard is justified by the need to control, albeit in a necessarily imperfect and arguably ineffective manner, the exercise of discretion by the director who stands in an undoubted position of power with respect to the company. A director therefore is obliged to avoid a conflict of interests and is prohibited from profiting from his office. …

The Director's Fiduciary Obligations: A Fresh Look?, Pearlie Koh

Research Collection Yong Pung How School Of Law

It is a pillar of equity that a person in a fiduciary position must not make a profit out of his trust which is part of the wider rule that a trustee must not place himself in a position where his duty and his interest may conflict (per Lord Upjohn in Phipps v. Boardman [1967] 2 A.C. 46, 123). The House of Lords in Regal (Hastings) v. Gulliver [1942] 1 All E.R. 378 demonstrated the unrelenting nature, and some have argued inequitable severity (see, e.g., Jones, (1968) 84 L.Q.R. 472), of the director-fiduciary’s obligations to his company. Such absolutism (Lowry …

A Changing World: A Commercial Landlord's Duty To Prevent Terrorist Attacks In Post-September 11th America, 36 J. Marshall L. Rev. 669 (2003), Thomas C. Homburger, Timothy J. Grant

UIC Law Review

No abstract provided.

Energy Goods: Should Article 2 Of The Uniform Commercial Code Apply To Energy Sales In A Deregulated Environment, 37 J. Marshall L. Rev. 281 (2003), Koby Bailey

UIC Law Review

No abstract provided.

Locking In Capital: What Corporate Law Achieved For Business Organizers In The Nineteenth Century, Margaret M. Blair

Vanderbilt Law School Faculty Publications

This Article argues that corporate status became popular in the nineteenth century as a way to organize production because of the unique manner in which incorporation permitted organizers to lock in financial capital. Unlike participants in a partnership, shareholders in an incorporated enterprise could not extract capital from the firm without explicit approval of a board of directors charged with representing the interests of the incorporated entity, even when that interest might sometimes conflict with the interests of individual shareholders. While this ability to lock in capital has occasionally led to abuses, the ability to commit capital generally helped promote …

An International Antitrust Dilemma: An Analysis Of The Interaction Of Antitrust Laws In The United States And The European Union, 36 J. Marshall L. Rev. 271 (2002), Sandra Ferson Young

UIC Law Review

No abstract provided.

Citizenship Of Limited Liability Companies For Diversity Jurisdiction, Debra R, Cohen

Journal Articles

The limited liability company is an increasingly popular form of business organization. Due to its hybrid nature, however, the citizenship of a LLC for purposes of diversity jurisdiction is difficult to determine. Should the citizenship of a LLC be determined as if it were a corporation, in which case it has "entity" citizenship, or as if it were a partnership, in which case its citizenship is determined by the citizenship of "persons composing" the LLC?

This Article examines the history of the evolution of hybrid organizations like the LLC, and the rules for determining the citizenship of business organizations in …

"Apparent Servants" And Making Appearances Matter: A Critique Of Bagot V. Airport & Airline Taxi Cab Corporation, Daniel S. Kleinberger, Peter B. Knapp

Faculty Scholarship

Minnesota law has long recognized the agency law principle of apparent authority. Minnesota law also provides that an agent is liable for the contractual obligations of an undisclosed or partially disclosed principal. Both of these well-recognized principles provided a basis for the plaintiff’s suit in Bagot, and both ought to provide a basis for similar suits in the future.

Internet Business Model Patents: Obvious By Analogy, Margo A. Bagley

Michigan Telecommunications & Technology Law Review

This Article contends that part of the problem of Internet business model patents is the narrow view of analogous art employed by judges and USPTO examiners which largely excludes relevant "real-world" prior art in the determination of non-obviousness under § 103 of the Patent Act. Consequently, part of the solution lies in helping courts and the USPTO properly to define analogous art for a particular invention. To do so, judges and examiners must recognize the interchangeability of computer programming (i.e. "e-world" activities) to perform a function, with human or mechanical performance of the same function (i.e. "real world" activities). Such …

Defining The Proper Scope Of Internet Patents: If We Don't Know Where We Want To Go, We're Unlikely To Get There, Vincent Chiappetta

Michigan Telecommunications & Technology Law Review

Part I of this Article addresses the appropriateness of protecting Internet innovations under the current patent regime. It concludes that the doctrinal, historical and policy arguments require different outcomes regarding computing (patentable subject matter) and competitive arts (at best a difficult fit) innovation. Part II argues that the new electronic economy has given rise to a particular kind of competitive arts "market failure" (interference with first-to-move lead-time incentives) which must be addressed. It concludes, however, that tinkering with the existing patent or copyright regimes is not only complex, but poses significant risks, and should be avoided. Part III sketches the …

Should Shareholders Have A Greater Say Over Executive Pay??, Randall S. Thomas, Brian R. Cheffins

Vanderbilt Law School Faculty Publications

Executive pay arrangements in Britain's publicly quoted companies have been subjected to much criticism in recent years. Proposals that shareholders should have a greater direct say over managerial remuneration have been a by-product of the concerns expressed. Debate on this point, however, has been largely speculative. This is because there is little evidence available in the United Kingdom indicating how shareholders would exercise any new powers they might be given. This paper addresses the evidentiary gap by drawing upon the experience in the United States, where empirical work indicates that shareholder voting only operates as a potential check when pay …