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Contracts Commons™

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2004

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Institution
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Articles 31 - 60 of 93

Full-Text Articles in Contracts

Independent Legal Significance, Good Faith, And The Interpretation Of Venture Capital Contracts, D. Gordon Smith Mar 2004

Independent Legal Significance, Good Faith, And The Interpretation Of Venture Capital Contracts, D. Gordon Smith

Faculty Scholarship

Venture capital contracts are inherently incomplete. When interpreting such contracts, courts could deal with the expectations of parties formally by inquiring only about the plain meaning of the contract or qualitatively by enforcing the presumed expectations of the parties, regardless of whether those expectations are expressed in the contract. The Delaware courts have opted for a formal approach. In doing so, they appear to be engaged in an effort to force contracting parties toward completeness. While the duty of good faith appears to respond to the inevitable incompleteness of contracts, the courts largely ignore this duty in preferred stock cases. …

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Credible Coercion, Oren Bar-Gill, Omri Ben-Shahar Mar 2004

Credible Coercion, Oren Bar-Gill, Omri Ben-Shahar

Law & Economics Working Papers Archive: 2003-2009

The ideal of individual liberty and autonomy requires that society provide relief against coercion. In the law, this requirement is often translated into rules that operate “post-coercion” to undo the legal consequences of acts and promises extracted under duress. This Article argues that these ex-post anti-duress measures, rather than helping the coerced party, might in fact hurt her. When coercion is credible—when a credible threat to inflict an even worse outcome underlies the surrender of the coerced party—ex post relief will only induce the strong party to execute the threatened outcome, to the detriment of the coerced party. Anti-duress relief …

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Operation Executive Freedom (Of Contract): Following The Executive's Fiduciary Obligation From Manges To Magruder In Mineral Leasing, John B. Fowles Mar 2004

Operation Executive Freedom (Of Contract): Following The Executive's Fiduciary Obligation From Manges To Magruder In Mineral Leasing, John B. Fowles

BYU Law Review

No abstract provided.

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Private Protection Of Patentable Goods, Jonathan M. Barnett Mar 2004

Private Protection Of Patentable Goods, Jonathan M. Barnett

Cardozo Law Review

No abstract provided.

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Leaving Money On The Table: Contract Practice In A Low-Trust Environment, Ruben Kraiem Feb 2004

Leaving Money On The Table: Contract Practice In A Low-Trust Environment, Ruben Kraiem

ExpressO

Social capital – the level of trust inherent in a society – will affect the contracting practices that are considered standard, practical or fair. These practices in turn will help determine the parties’ positions as they approach their negotiation, how they will communicate, and what terms they will agree in any particular transaction. This is true not only for the small transaction, but also for large and complex deals. As a result, when operating in a low-trust environment, even sophisticated parties (who can bear the costs of tailoring an agreement to their particular case), will be prone to relinquish or …

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"Agreeing To Disagree": Filling Gaps In Deliberately Incomplete Contracts, Omri Ben-Shahar Jan 2004

"Agreeing To Disagree": Filling Gaps In Deliberately Incomplete Contracts, Omri Ben-Shahar

Law & Economics Working Papers Archive: 2003-2009

This Article develops a new standard for gap filling in incomplete contracts. It focuses on an important class of situations in which parties leave their agreement deliberately incomplete, with the intent to further negotiate and resolve the remaining issues. In these situations, neither the traditional no-enforcement result nor the usual gap filling approaches accord with the parties’ partial consent. Instead, the Article develops the concept of pro-defendant gap-fillers, under which each party is granted an option to enforce the transaction supplemented with terms most favorable (within reason) to the other party. A deliberately incomplete contract with pro-defendant gap fillers transforms …

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Summary Of Beckwith V. State Farm Fire And Casualty Co., Ira David Jan 2004

Summary Of Beckwith V. State Farm Fire And Casualty Co., Ira David

Nevada Supreme Court Summaries

No abstract provided.

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"Strangers In A Strange Land" -- Transnational Litigation, Foreign Judgment Recognition, And Enforcement In Ontario, Antonin I. Pribetic Jan 2004

"Strangers In A Strange Land" -- Transnational Litigation, Foreign Judgment Recognition, And Enforcement In Ontario, Antonin I. Pribetic

Florida State University Journal of Transnational Law & Policy

No abstract provided.

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Lessons For The Hague: Internet Jurisdiction In Contract And Tort Cases In The European Community And The United States, 23 J. Marshall J. Computer & Info. L. 1 (2004), Moritz Keller Jan 2004

Lessons For The Hague: Internet Jurisdiction In Contract And Tort Cases In The European Community And The United States, 23 J. Marshall J. Computer & Info. L. 1 (2004), Moritz Keller

UIC John Marshall Journal of Information Technology & Privacy Law

With the increasing use of the Internet, all on-line users, web site owners, e-commerce companies and consumers alike, feel the need to be able to rely on clear standards for a potential contract or tort lawsuit following the Internet presence that could lead to multinational litigation. This goal could be achieved if the negotiations of the Hague Convention on international jurisdiction and enforcement of foreign judgments in civil and commercial matters succeed in harmonizing the rules of the different legal systems around the globe, or at least create a minimum standard for legal cases which would benefit greatly e-commerce and …

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Footnote Draft Of Render Copyright Unto Caesar - 2004, Wendy J. Gordon Jan 2004

Footnote Draft Of Render Copyright Unto Caesar - 2004, Wendy J. Gordon

Scholarship Chronologically

This essay, however, does not press any particular agenda; rather, it tries to make our thinking about the topic more flexible. It is my hope that some conduct-specific rule as was adopted in the defamation context will eventually be adopted for intellectual property. Copyright law cannot continue forever closing its eyes and hoping its house will stop being haunted.

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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 Jan 2004

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.

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How To Keep The Lights On: An Exploration Of The Abrogration Of Wholesale Energy Contracts, 38 J. Marshall L. Rev. 303 (2004), Brian Bassett Jan 2004

How To Keep The Lights On: An Exploration Of The Abrogration Of Wholesale Energy Contracts, 38 J. Marshall L. Rev. 303 (2004), Brian Bassett

UIC Law Review

No abstract provided.

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The Mold Rush: The Onslaught Of Mold-Related Bad Faith Suits Against Insurers And The Price For Homeowners, Kellie Maccready Jan 2004

The Mold Rush: The Onslaught Of Mold-Related Bad Faith Suits Against Insurers And The Price For Homeowners, Kellie Maccready

Villanova Environmental Law Journal (1991 - )

No abstract provided.

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Contractual Stipulation For Judicial Review And Discovery In United States-Japan Arbitration Contracts, Norman T. Braslow Jan 2004

Contractual Stipulation For Judicial Review And Discovery In United States-Japan Arbitration Contracts, Norman T. Braslow

Seattle University Law Review

This Article discusses in detail how the arbitration process in both the United States and Japan can very often result in injustice to both parties. Part II describes how limitations on discovery can cause vital information necessary to either prosecute or defend a claim to never appear before the arbitrator. The article then discusses the possibility of including provisions that might ameliorate this problem. Next, this Part examines specific examples of situations where the arbitrators can ignore the civil rules of evidence and admit evidence that would be inadmissible in a court of law. Finally, this Part concludes with a …

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Show Me The Money?: Washington Adopts The Cost Prohibitive Defense To Arbitration Clauses In Consumer Contracts, Merryn B. Debenedetti Jan 2004

Show Me The Money?: Washington Adopts The Cost Prohibitive Defense To Arbitration Clauses In Consumer Contracts, Merryn B. Debenedetti

Seattle University Law Review

The scope of this Note focuses on whether the courts have adequately corrected the substantive failures of mandatory arbitration agreements when they permit consumers to prove prohibitive costs. Part II of this Note explores the origin and history behind the adoption of the FAA and the legislative desire to place parties of equal bargaining power in a position to arbitrate. Part III examines the acceptance of this defense in other jurisdictions. Part IV considers the Mendez case and analyzes Washington's newly adopted approach to invalidate mandatory arbitration clauses in consumer contracts. Part V illustrates the appropriateness of this defense and …

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Against Supercompensation: A Proposed Limitation On The Land Buyer's Right To Elect Between Damages And Specific Performance As A Remedy For Breach Of Contract, Jonathan Levy Jan 2004

Against Supercompensation: A Proposed Limitation On The Land Buyer's Right To Elect Between Damages And Specific Performance As A Remedy For Breach Of Contract, Jonathan Levy

Loyola University Chicago Law Journal

No abstract provided.

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Gollum, Meet Sméagol: A Schizophrenic Rumination On Mediator Values Beyond Self-Determination And Neutrality, James R. Coben Jan 2004

Gollum, Meet Sméagol: A Schizophrenic Rumination On Mediator Values Beyond Self-Determination And Neutrality, James R. Coben

Cardozo Journal of Conflict Resolution

Let me begin by declaring my biases. First, I am a dissatisfied consumer of mediation services, having represented both employment discrimination and family law clients in mediations. The mediators' rapid retreat to caucus, their tendency to incorrectly evaluate my clients' cases, and their strong push for particular settlement structures while simultaneously proclaiming process neutrality, all too frequently have left me (and my clients) disappointed and disillusioned. Second, I am a chronicler of "mediation car wrecks" - a voyeur, if you will, of those times when mediations go so badly that the parties end up disputing about them in court. Third, …

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One For All, But None For (All Of) One: Revised Article 1 Of The Uniform Commercial Code (Part 1 Of 2), Keith A. Rowley Jan 2004

One For All, But None For (All Of) One: Revised Article 1 Of The Uniform Commercial Code (Part 1 Of 2), Keith A. Rowley

Scholarly Works

This article examines four major differences between Revised Article 1 of the Uniform Commercial Code and Nevada's current (as of 2004) version of Article 1, codified at N.R.S. §§ 104.1101 et seq.

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Arbitration, Unconscionability, And Equilibrium: The Return Of Unconscionability Analysis As A Counterweight To Arbitration Formalism, Jeffrey W. Stempel Jan 2004

Arbitration, Unconscionability, And Equilibrium: The Return Of Unconscionability Analysis As A Counterweight To Arbitration Formalism, Jeffrey W. Stempel

Scholarly Works

However incomplete, unaggressive, or sub-optimal, unconscionability analysis of arbitration agreements has made something of a comeback in the late twentieth century and early twenty-first century. Just as nature abhors a vacuum, water seeks to be level, and ecosystems work to retain environmental stability, the legal system has witnessed an incremental effort by lower courts to soften the rough edges of the Supreme Court's pro-arbitration jurisprudence through rediscovery of what might be called the “unconscionability norm”--a collective judicial view as to what aspects of an arbitration arrangement are too unfair to merit judicial enforcement. In rediscovering and reinvigorating the unconscionability norm …

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Getting Serious About User-Friendly Mass Market Licensing For Software, Robert W. Gomulkiewicz Jan 2004

Getting Serious About User-Friendly Mass Market Licensing For Software, Robert W. Gomulkiewicz

Articles

Software publishers use standard form end user licenses (“EULAs”) in mass market transactions on a regular basis. Most software users find EULAs perplexing and generally ignore them. Scholars, however, have focused on them intently. In the past twenty years over a hundred scholarly articles have been written on the subject. Most of these articles criticize EULAs and argue that courts should not enforce them. In their critique of EULAs, some scholars examine the adequacy of the offer, acceptance, and consideration. Others discuss EULAs as part of the troublesome issue of standard form contracting, and whether standard forms, on balance, harm …

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The Option Element In Contracting, Avery W. Katz Jan 2004

The Option Element In Contracting, Avery W. Katz

Faculty Scholarship

Most contractual arrangements are either structured as options or include options as important elements. As a result, many of the major doctrines of contract law effectively operate to create or to set the terms of such options. For instance, it has long been recognized that a contract that is enforceable only through monetary liability operates in practice as an option, because as a legal matter the promisor retains the power either to perform or to breach and pay damages. Similarly, the doctrine of promissory estoppel, which attaches liability to precontractual statements in cases where they are reasonably relied upon, effectively …

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Contracts – Only With Consent, Ronald J. Mann Jan 2004

Contracts – Only With Consent, Ronald J. Mann

Faculty Scholarship

My friend and former colleague Omri Ben-Shahar has established a reputation for providing nuanced and well-grounded applications of economic analysis to important problems of contract law. In recent years, he has undertaken the ambitious task of exploring a significant topic at the boundary of contract law: liability for problems that arise out of efforts to form a contract. The essay to which I reply, Contracts Without Consent: Exploring a New Basis for Contractual Liability, is his second work on that topic, following his 2001 article with Lucian Bebchuk entitled Precontractual Reliance. Collectively, these pieces provide a comprehensive analysis …

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Contracting Under Amended 2-207 (Freedom From Contract Symposium), James J. White Jan 2004

Contracting Under Amended 2-207 (Freedom From Contract Symposium), James J. White

Articles

Amended Section 2-207 of the Uniform Commercial Code1 (the Code) states new contract rules. I call these "contract rules" to avoid the labels of contract formation and contract interpretation. These new rules cure many of the problems presented by current Section 2-2072 and remind courts that the purpose of Section 2-207 is to interpret a contract that has been made, not to see if a contract exists. One is tempted to label current Section 2-207 as a contract formation provision-and to some extent that would be right-but most of this Section's work has been in contract interpretation, not in contract …

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The Efficient Design Of Option Contracts: Principles And Applications, Avery W. Katz Jan 2004

The Efficient Design Of Option Contracts: Principles And Applications, Avery W. Katz

Faculty Scholarship

The law of contracts has often treated options quite differently from other contractual transactions; for example, the characterization of a transaction as an option contract calls forth specially required formalities, but on the other hand often has the effect of releasing parties from doctrinal limitations on their contractual freedom, such as the duty to mitigate damages or the rule that holds excessively high liquidated damages void as penalties. Such differential treatment is challenging to explain from a functional viewpoint, in part because all contracts resemble options to the extent they are enforceable in terms of monetary damages, and in part …

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Case Note: Contracts—Into The Void: Minnesota Limits Application Of The Prima Paint Doctrine—Onvoy, Inc. V. Shal, Llc, Mikel D. Johnson Jan 2004

Case Note: Contracts—Into The Void: Minnesota Limits Application Of The Prima Paint Doctrine—Onvoy, Inc. V. Shal, Llc, Mikel D. Johnson

William Mitchell Law Review

This note first gives a brief overview of arbitration use in the United States. It then discusses the Onvoy decision and provides an analysis of the Minnesota Supreme Court’s ruling. Finally, the note concludes that the court’s holding properly weighs Minnesota’s strong presumption in favor of arbitration against the need to allow access to the courts.

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Un Enfoque Comparativo Sobre La Formacion De Los Contratos Electronicos, Roberto Rosas Jan 2004

Un Enfoque Comparativo Sobre La Formacion De Los Contratos Electronicos, Roberto Rosas

Faculty Articles

Understanding the basic principles governing the formation of contracts is of paramount importance when it comes to figuring out the most appropriate to enter into a new contract or to assess the legality of a contract existing ones. While the basic rules for the forming of general contracts are applicable to most type of contracts, regardless of how they are done, there are some legal rules that apply specify to contracts concluded electronically.

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

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.

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The Economics Of Form And Substance In Contract Interpretation, Avery W. Katz Jan 2004

The Economics Of Form And Substance In Contract Interpretation, Avery W. Katz

Faculty Scholarship

For over a century, legal commentators have debated the relative merits of formal and substantive approaches to the interpretation of contracts; in recent years, the debate has increasingly been conducted in the language of the economic approach to contract law. While this new wave of scholarship has been relatively successful in relating the traditional debates over formalism to specific transactional and institutional problems such as imperfect information, it has been less productive in terms of generating useful legal or policy recommendations. This Essay proposes a different approach: one that focuses on private rather than public legal decisionmakers as its primary …

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Threatening An Irrational Breach Of Contract, Oren Bar-Gill, Omri Ben-Shahar Jan 2004

Threatening An Irrational Breach Of Contract, Oren Bar-Gill, Omri Ben-Shahar

Articles

When circumstances surrounding the contract change, a party might consider breach a more attractive option than performance. Threatening breach, this party may induce the other party to modify the original agreement. The contract law doctrine of modification determines whether and when these modifications are enforceable. To promote social welfare as well as the interests of the threatened party, the law should enforce modifications if and only if the modification demand is backed by a credible threat to breach. This paper argues that credibility is not a function of pecuniary interests alone. A decision to breach can be motivated also by …

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The Law Of Duress And The Economics Of Credible Threats, Oren Bar-Gill, Omri Ben-Shahar Jan 2004

The Law Of Duress And The Economics Of Credible Threats, Oren Bar-Gill, Omri Ben-Shahar

Articles

This paper argues that enforcement of an agreement, reached under a threat to refrain from dealing, should be conditioned solely on the threat's credibility. When a credible threat exists, enforcement promotes social welfare and the threatened party's interests. If agreements backed by credible threats were not enforceable, the threatening party would not extort them and would instead refrain from deaing-to the threatened party's detriment. The doctrine of duress, which invalidates such agreements, hurts the coerced party. By denying enforcement when a credible threat exists, the duress doctrine precludes the threatened party from making the commitment necessary to reach agreement. Paradoxically, …

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