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Full-Text Articles in Contracts

Statutory Personal Property Lease Law In Alabama, Peter A. Alces, P. Cade Newman Sep 2019

Statutory Personal Property Lease Law In Alabama, Peter A. Alces, P. Cade Newman

Peter A. Alces

No abstract provided.

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I Share, Therefore It's Mine, Donald J. Kochan Apr 2017

I Share, Therefore It's Mine, Donald J. Kochan

Donald J. Kochan

Uniquely interconnecting lessons from law, psychology, and economics, this article aims to provide a more enriched understanding of what it means to “share” property in the sharing economy. It explains that there is an “ownership prerequisite” to the sharing of property, drawing in part from the findings of research in the psychology of child development to show when and why children start to share. They do so only after developing what psychologists call “ownership understanding.” What the psychological research reveals, then, is that the property system is well suited to create recognizable and enforceable ownership norms that include the rights …

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Insurance Policies: The Grandparents Of Contractual Black Holes, Christopher French Dec 2016

Insurance Policies: The Grandparents Of Contractual Black Holes, Christopher French

Christopher C. French

In their recent article, The Black Hole Problem in Commercial Boilerplate, Professors Stephen Choi, Mitu Gulati, and Robert Scott identify a phenomenon found in standardized contracts they describe as “contractual black holes.” The concept of black holes comes from theoretical physics. Under the original hypothesis, the gravitational pull of a black hole is so strong that once light or information is pulled past an event horizon into a black hole, it cannot escape. In recent years, the theory has been reformulated and now the hypothesis is that some information can escape, but it is so degraded that it is virtually …

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Private Law In The Gaps, Jeffrey A. Pojanowski Oct 2016

Private Law In The Gaps, Jeffrey A. Pojanowski

Jeffrey A. Pojanowski

Private law subjects like tort, contract, and property are traditionally taken to be at the core of the common law tradition, yet statutes increasingly intersect with these bodies of doctrine. This Article draws on recent work in private law theory and statutory interpretation to consider afresh what courts should do with private law in statutory gaps. In particular, it focuses on statutes touching on tort law, a field at the leading edge of private law theory. This Article's analysis unsettles some conventional wisdom about the intersection of private law and statutes. Many leading tort scholars and jurists embrace a regulatory …

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El Nuevo Pacto Protestante: La Influencia De La Teología Protestante En El Derecho De Bienes Y Contratos, Brian M. Mccall Dec 2015

El Nuevo Pacto Protestante: La Influencia De La Teología Protestante En El Derecho De Bienes Y Contratos, Brian M. Mccall

Brian M McCall

Es imposible disociar la moral (o la ética) de la doctrina teológica. Como Richard Weaver explicó en el pasado siglo, las ideas tienen consecuencias.
Por lo tanto, un cambio de doctrina teológica irá inevitablemente acompañado por un cambio en las normas que gobiernan la conducta. Dado que la ley humana es relativa a los usos y costumbres de la comunidad para la cual se dicta y se desarrolla a la luz de aquéllos, tales cambios terminarán abriéndose paso en las leyes.
Después de quinientos años, las nuevas doctrinas del protestantismo han producido sus efectos sobre la moral y el derecho. …

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Revisiting Construction Defects As “Occurrences” Under Cgl Insurance Policies, Christopher French Dec 2015

Revisiting Construction Defects As “Occurrences” Under Cgl Insurance Policies, Christopher French

Christopher C. French


Imagine a situation in which a homeowner hires a contractor to redo a bathroom, for example, and the work is done incompetently such that the plumbing leaks and causes damage to other parts of the house.  If the homeowner sues the contractor to recover the costs of repairing the faulty workmanship and the damage caused by the faulty workmanship, has there been an “occurrence” that is covered by the contractor’s Commercial General Liability (“CGL”) insurance policy?  This article provides an answer to that question.

The issue of whether construction defects are occurrences under CGL insurance policies has been litigated frequently …

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Insuring Landslides: America’S Uninsured Natural Catastrophes, Christopher French Dec 2015

Insuring Landslides: America’S Uninsured Natural Catastrophes, Christopher French

Christopher C. French


Landslides occur in all fifty states and cause approximately $3.5 billion in property damage annually. Yet, in America, “all risk” homeowners and commercial property insurance policies exclude coverage for landslides, and there is only limited availability of expensive, stand-alone “named peril” insurance policies that cover landslide losses. Consequently, the affected homeowners are often left financially devastated—homeless with a mortgage to pay on an unsaleable piece of property.

This Article analyzes the problem of insuring landslide losses in America and proposes ways to help solve it. It describes both historical and recent landslide events. It discusses the insurance industry’s response to …

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Gandhi’S Prophecy: Corporate Violence And A Mindful Law For Bhopal, Nehal A. Patel Dec 2015

Gandhi’S Prophecy: Corporate Violence And A Mindful Law For Bhopal, Nehal A. Patel

Nehal A. Patel

AbstractOver thirty years have passed since the Bhopal chemical disaster began,and in that time scholars of corporate social responsibility (CSR) havediscussed and debated several frameworks for improving corporate responseto social and environmental problems. However, CSR discourse rarelydelves into the fundamental architecture of legal thought that oftenbuttresses corporate dominance in the global economy. Moreover, CSRdiscourse does little to challenge the ontological and epistemologicalassumptions that form the foundation for modern economics and the role ofcorporations in the world.I explore methods of transforming CSR by employing the thought ofMohandas Gandhi. I pay particular attention to Gandhi’s critique ofindustrialization and principle of swadeshi (self-sufficiency) …

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Authority For Sale And Privity Of Contract: The Proprietary Basis Of The Right To The Proceeds Of Sale In The Common Law, Benjamin Geva Oct 2015

Authority For Sale And Privity Of Contract: The Proprietary Basis Of The Right To The Proceeds Of Sale In The Common Law, Benjamin Geva

Benjamin Geva

Upon an authorized sale of goods, the owner's ability to recover the price from the buyer can be explained either by his property in the goods or by a contractual relationship. This article deals with the right to recover the price in the context of an historical and theoretical analysis of the right to the proceeds of a sale at common law. It is suggested that property is the basis of this right, rather than a contractual nexus. Part I presents the sale of goods by an agent of an undisclosed principal as a model situation in which the right …

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Dismissing Provenance: The Use Of Procedural Defenses To Bar Claims In Nazi-Looted Art And Securitized Mortgage Litigation, Christian J. Bromley Sep 2015

Dismissing Provenance: The Use Of Procedural Defenses To Bar Claims In Nazi-Looted Art And Securitized Mortgage Litigation, Christian J. Bromley

Christian J Bromley

The litigation surrounding an estimated 650,000 works looted by the Nazis in the Second World War and the millions of securitized mortgages foreclosed in the wake of the Great Recession converge on a fundamental legal principle: who really holds rightful title? Seemingly worlds apart, these separate yet remarkably similar forms of property challenge the American judiciary to allocate property rights between adversaries steadfast in their contention of rightful ownership. The legal fulcrum in this allocation often rests not on the equity or righteousness of either parties’ claim—whether museum versus heir or bank versus former homeowner—but instead on procedural defenses that …

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An Approach To The Regulation Of Spanish Banking Foundations, Miguel Martínez Jun 2015

An Approach To The Regulation Of Spanish Banking Foundations, Miguel Martínez

Miguel Martínez

The purpose of this paper is to analyze the legal framework governing banking foundations as they have been regulated by Spanish Act 26/2013, of December 27th, on savings banks and banking foundations. Title 2 of this regulation addresses a construct that is groundbreaking for the Spanish legal system, still of paramount importance for the entire financial system insofar as these foundations become the leading players behind certain banking institutions given the high interest that foundations hold in the share capital of such institutions.

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Avoiding The Recharacterization Of Certain Deed-In-Lieu-Of-Foreclosure Transactions: Ensuring That What You Draft Is What You Get, 110 Banking L.J. 330 (1993), Debra Stark Jun 2015

Avoiding The Recharacterization Of Certain Deed-In-Lieu-Of-Foreclosure Transactions: Ensuring That What You Draft Is What You Get, 110 Banking L.J. 330 (1993), Debra Stark

Debra Pogrund Stark

No abstract provided.

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A Psychological Investigation Of Consumer Vulnerability To Fraud: Legal And Policy Implication, 35 Law & Psychol. Rev. 61 (2011), Jessica M. Choplin, Debra Pogrund Stark, Jasmine N. Ahmad Jun 2015

A Psychological Investigation Of Consumer Vulnerability To Fraud: Legal And Policy Implication, 35 Law & Psychol. Rev. 61 (2011), Jessica M. Choplin, Debra Pogrund Stark, Jasmine N. Ahmad

Debra Pogrund Stark

No abstract provided.

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Prepayment Charges In Jeopardy: The Unhappy And Uncertain Legacy Of In Re Skyler Ridge, 24 Real Prop. Prob. & Tr. J. 191 (1989), Debra Stark Jun 2015

Prepayment Charges In Jeopardy: The Unhappy And Uncertain Legacy Of In Re Skyler Ridge, 24 Real Prop. Prob. & Tr. J. 191 (1989), Debra Stark

Debra Pogrund Stark

No abstract provided.

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Navigating Residential Attorney Approvals: Finding A Better Judicial North Star, 39 J. Marshall L. Rev. 171 (2006), Debra Pogrund Stark Jun 2015

Navigating Residential Attorney Approvals: Finding A Better Judicial North Star, 39 J. Marshall L. Rev. 171 (2006), Debra Pogrund Stark

Debra Pogrund Stark

No abstract provided.

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Consumer Protection Initiatives In The Eu Mortgage Market: A Behavioral Economics Based Critique And Proposal, 25 Temp. Int'l & Comp. L.J. 1 (2011), Debra Pogrund Stark, Jessica M. Choplin Jun 2015

Consumer Protection Initiatives In The Eu Mortgage Market: A Behavioral Economics Based Critique And Proposal, 25 Temp. Int'l & Comp. L.J. 1 (2011), Debra Pogrund Stark, Jessica M. Choplin

Debra Pogrund Stark

No abstract provided.

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New Developments In Enforcing Prepayment Charges After Acceleration Of A Mortgage Loan, 26 Real Prop. Prob. & Tr. J. 213 (1991), Debra Stark Jun 2015

New Developments In Enforcing Prepayment Charges After Acceleration Of A Mortgage Loan, 26 Real Prop. Prob. & Tr. J. 213 (1991), Debra Stark

Debra Pogrund Stark

No abstract provided.

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Dysfunctional Contracts And The Laws And Practices That Enable Them: An Empirical Analysis, 46 Ind. L. Rev. 797 (2013), Debra Pogrund Stark, Jessica M. Choplin, Eileen Linnabery Jun 2015

Dysfunctional Contracts And The Laws And Practices That Enable Them: An Empirical Analysis, 46 Ind. L. Rev. 797 (2013), Debra Pogrund Stark, Jessica M. Choplin, Eileen Linnabery

Debra Pogrund Stark

While many courts refuse to strike down these clauses under the unconscionability test, this Article argues that the results from the Remedies Experiment should lead courts to adopt a different set of tests for ruling on the enforceability of limitation-of-remedy clauses in home purchase contracts. Part I of this Article highlights the relevant results from two empirical studies Professor Stark conducted regarding major problems with the fairness of purchase agreement forms used by residential real estate developers in Illinois. Part I also discusses the lack of home purchaser understanding of key relevant laws and legal documents examined in an empirical …

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Enforcing Prepayment Charges: Case Law And Drafting Suggestions, 22 Real Prop. Prob. & Tr. J. 549 (1987), Debra Stark Jun 2015

Enforcing Prepayment Charges: Case Law And Drafting Suggestions, 22 Real Prop. Prob. & Tr. J. 549 (1987), Debra Stark

Debra Pogrund Stark

No abstract provided.

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The Global Subprime Crisis As Explained By The Contrast Between American Contracts Law And Civil Law Countries' Laws, Practices And Expectations In Real Estate Transactions: How The Lack Of Informed Consent And The Absence Of The Civil Law Notary In The United States Contribute To The Global Crisis In Subprime Mortgage Investments, 11 J. Int'l Bus. & L. 133 (2012), Celeste M. Hammond, Ilaria Landini Jun 2015

The Global Subprime Crisis As Explained By The Contrast Between American Contracts Law And Civil Law Countries' Laws, Practices And Expectations In Real Estate Transactions: How The Lack Of Informed Consent And The Absence Of The Civil Law Notary In The United States Contribute To The Global Crisis In Subprime Mortgage Investments, 11 J. Int'l Bus. & L. 133 (2012), Celeste M. Hammond, Ilaria Landini

Celeste M. Hammond

No abstract provided.

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La Metamorfosis Incoherente (¿E Inconstitucional?) Del Principio De Fe Pública Registral, Fort Ninamancco Córdova Apr 2015

La Metamorfosis Incoherente (¿E Inconstitucional?) Del Principio De Fe Pública Registral, Fort Ninamancco Córdova

Fort Ninamancco Cordova

No abstract provided.

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Invisible Labor, Invisible Play: Online Gold Farming And The Boundary Between Jobs And Games, Julian Dibbell Apr 2015

Invisible Labor, Invisible Play: Online Gold Farming And The Boundary Between Jobs And Games, Julian Dibbell

Julian Dibbell

When does work become play, and play work? Courts have considered the question in a variety of economic contexts, from student athletes seeking recognition as employees to professional blackjack players seeking to be treated by casinos just like casual players. Here I apply the question to a relatively novel context: that of online gold farming, a gray-market industry in which wage-earning workers, largely based in China, are paid to play online fantasy games (MMOs) that reward them with virtual items their employers sell for profit to the same games’ casual players. Gold farming is clearly a job (and under the …

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Insuring Floods: The Most Common And Devastating Natural Catastrophies In America, Christopher French Feb 2015

Insuring Floods: The Most Common And Devastating Natural Catastrophies In America, Christopher French

Christopher C. French

Flooding is the most common natural catastrophe Americans face, accounting for 90% of all damage caused by natural catastrophes. Hurricanes Katrina and Sandy, for example, collectively caused over $160 billion in damage, but only approximately 10% of the Hurricane Katrina victims and 50% of the Hurricane Sandy victims had insurance to cover their flood losses. Consequently, both their homes and lives were left in ruins in the wake of the storms. Nationwide, only approximately 7% of homeowners have insurance that covers flood losses even though the risk of flooding is only increasing as coastal areas continue to be developed and …

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Epstein And Levmore: Objections From The Right?, Emily Sherwin, Maimon Schwarzschild Feb 2015

Epstein And Levmore: Objections From The Right?, Emily Sherwin, Maimon Schwarzschild

Emily L Sherwin

No abstract provided.

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Contribution Arguments In Commercial Law, Steven Walt, Emily Sherwin Feb 2015

Contribution Arguments In Commercial Law, Steven Walt, Emily Sherwin

Emily L Sherwin

No abstract provided.

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A Coasean Experiment On Contract Presumptions, Stewart J. Schwab Feb 2015

A Coasean Experiment On Contract Presumptions, Stewart J. Schwab

Stewart J Schwab

Despite the theoretical importance of the Coase Theorem, scholars have given surprisingly little attention to verifying its predictions empirically. Supporters often accept the theorem as dogma, while armchair critics assail its assumptions. In an exciting series of recent articles, however, Elizabeth Hoffman and Matthew Spitzer have presented experimental evidence, as have others, that largely supports the Coasean prediction that bargainers will negotiate around inefficient property rights to reach a Pareto-optimal solution. The methodology has even gained sufficient attention to have its detractors. The existing experiments analyze the results of bargains when one side has the power to impose unilaterally one …

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When Does Some Federal Interest Require A Different Result?: An Essay On The Use And Misuse Of Butner V. United States, Juliet Moringiello Dec 2014

When Does Some Federal Interest Require A Different Result?: An Essay On The Use And Misuse Of Butner V. United States, Juliet Moringiello

Juliet M Moringiello

Thousands of judges and scholars have relied on the statement in the 1979 Supreme Court opinion in Butner v. United States that “property interests are created and defined by state law...unless some federal interest requires a different result.” Often, they cite to the statement as a policy constraint that elevates state property law over federal bankruptcy law. This Essay, written for the American Bankruptcy Institute – University of Illinois Symposium on Chapter 11 Reform, posits that the Butner rule is not as broadly applicable as commonly believed. To do so, the Essay surveys some notable uses and misuses of the …

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Contract For The Grant Of A Compliant Option To Purchase, Alvin W-L See Dec 2014

Contract For The Grant Of A Compliant Option To Purchase, Alvin W-L See

Alvin W-L See

An agreement for the sale and purchase of real property often begins with an option to purchase ("OTP"). Usually, upon agreeing on the purchase price, the vendor will grant the purchaser an OTP in return for an option fee. During the specified option period, the vendor is bound to keep the property for the purchaser. This affords the purchaser an opportunity to reconsider his or her decision to purchase the property and time to source for financing for the purchase. If the purchaser decides to proceed with the purchase, he or she will exercise the OTP by the prescribed method …

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Bubbles (Or, Some Reflections On The Basic Laws Of Human Relations), Donald J. Kochan Dec 2014

Bubbles (Or, Some Reflections On The Basic Laws Of Human Relations), Donald J. Kochan

Donald J. Kochan

Very few of us want to live in the absolute isolation of a “bubble.” Most humans cherish the capacity to interact with their external environment even when we know that, at times, such exposure makes us susceptible to all sorts of negative effects ranging from mere annoyance to the contraction of deadly illnesses. Yet, because there are so many positive elements and benefits from that interaction and exposure, we often are willing to take the bitter with the sweet. We tolerate much external exposure to bad things in order to take advantage of the collisions with the good things that …

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Keepings, Donald J. Kochan Dec 2014

Keepings, Donald J. Kochan

Donald J. Kochan

Individuals usually prefer to keep what they own; property law develops around that assumption. Alternatively stated, we prefer to choose whether and how to part with what we own. Just as we hold affection and attachment for our memories, captured in the lyrics of the George Gershwin classic, so too do most individuals adopt a “they can’t take that away from me” approach to property ownership.

We often focus on the means of acquisition or transfer in property law. We look less often at the legal rules that support one’s ability to keep what one owns. Yet, it is precisely …

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