Contracts Commons^™

The New Era Of Doing Business With Iran: Iran’S International Commercial Transactions And Global Security, John Changiz Vafai

Pace International Law Review

On January 17, 2016, in a statement following his signing of the Joint Comprehensive Plan of Action (JCPOA) with Iran, President Obama addressed that country’s people, stating that “yours is a great civilization, with a vibrant culture that has so much to contribute to the world – in commerce, and in science and the arts.” While the former U.S. President’s evaluation of the Iranian people’s greatness is indisputable, there are questions concerning doing business with Iran which transcend conventional legal issues and commercial problems.

Given the juxtaposition of Iran’s duopolistic government structure and ideologically oriented decision-making processes, questions arise as …

Bsl Holdings, Llc Et Al., Order On Third Party Defendants' Motion To Dismiss, Elizabeth E. Long

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

International Commodity Agreements, Kenneth Klein

Georgia Journal of International & Comparative Law

No abstract provided.

Whole Foods For The Whole Pregnancy: Regulating Surrogate Mother Behavior During Pregnancy, Teresa Donaldson

William & Mary Journal of Race, Gender, and Social Justice

No abstract provided.

Major League Soccer As A Case Study In Complexity Theory, Steven A. Bank

Florida State University Law Review

Major League Soccer has long been criticized for its “Byzantine” roster rules and regulations, rivaled only by the Internal Revenue Code in its complexity. Is this criticism fair? By delving into complexity theory and the unique nature of the league, this Article argues that the traditional complaints may not apply in the context of the league’s roster rules. Effectively, critics are applying the standard used to evaluate the legal complexity found in rules such as statutes and regulations when the standard used to evaluate contractual complexity is more appropriate. Major League Soccer’s system of roster rules is the product of …

The Blame Game, Singapore Management University

Research@SMU: Connecting the Dots

When parties outsource duties to independent contractors who then carry out the work negligently, is the hiring party also responsible? Professor Low Kee Yang believes so.

See the papers:

• Non-delegable duty of care: Woodland v Swimming Teachers Association and beyond
• Non-delegable duty after Tiong Aik

Saying Yes: Reviewing Board Decisions To Sell Or Merge The Corporation, Franklin A. Gevurtz

Florida State University Law Review

No abstract provided.

The Costly Problem Of Poorly Drafted Choice Of Law Clauses, Daniel C.K. Chow

Washington Law Review Online

This piece is a response to John Coyle, The Canons of Construction for Choice-of-Law Clauses, 92 Wash. L. Rev. 631 (2017).

Commercial Creations: The Role Of End User License Agreements In Controlling The Exploitation Of User Generated Content, 16 J. Marshall Rev. Intell. Prop. L. 382 (2017), Neha Ahuja

UIC Review of Intellectual Property Law

This article considers the current licensing regime used to control the exploitation of copyright protected works within the online interactive entertainment sector—particularly virtual worlds including multiplayer online games—to further author new copyrightable works. This article aims to identify the gaps that have arisen on account of the nature of these subsequently authored works and the potential for their exploitation under the said licensing regime. Users and the proprietors of virtual worlds often end up in conflict over the monetization and commercialization of user generated content on account of contradictory yet overlapping rights created by copyright law when controlled by contract …

Wisconsin Patent Acquisition In The Final Frontier: Creating A Void, Nicholas J. Thibodeau

Marquette Intellectual Property Law Review

In early 2006, the Wisconsin Legislature passed 2005 Wisconsin Act 335, creating the Wisconsin Aerospace Authority (WAA). Unique to this particular act is the enumeration of the power to acquire intellectual property by the WAA. While granting them the power to acquire intellectual property is not unique, there is an interesting problem with that acquisition: the Act does not conform to the Parker Doctrine, and thus allows the WAA to be subject to antitrust litigation in its intellectual property acquisition under the proper circumstances. Specifically, the Act allows the WAA to enter into exclusive contracts that allow the WAA to …

What We Buy When We "Buy Now", Aaron K. Perzanowski, Chris Jay Hoofnagle

Faculty Publications

Retailers such as Apple and Amazon market digital media to consumers using the familiar language of product ownership, including phrases like “buy now,” “own,” and “purchase.” Consumers may understandably associate such language with strong personal property rights. But the license agreements and terms of use associated with these transactions tell a different story. They explain that ebooks, mp3 albums, digital movies, games, and software are not sold, but merely licensed. The terms limit consumers' ability to resell, lend, transfer, and even retain possession of the digital media they acquire. Moreover, unlike physical media products, access to digital media is contingent …

Tension And Reconciliation In Canadian Contract Law Casebooks, David Sandomierski

Law Publications

Canadian common law contract law casebooks are beset with a tension. On the one hand, they all reveal a sustained commitment to the “wholesale assault on the jurisprudence of forms, concepts, and rules” that typifies American Legal Realism and its intellectual descendants. Concern with underlying values, functional reasoning, social realities, and policy thinking pervades the explicit messages of Canadian contract law casebooks and their editors’ related writings. On the other hand, the two casebooks most frequently assigned embody an allegiance to rules and courts that has a close kinship with the classical attitudes purportedly rejected. They convey a monolithic image …

"Revenues And Expenses For Cons And Festivals" From The Pop Culture Business Handbook For Cons And Festivals, Jon Garon

Faculty Scholarship

This article is part of a series of book excerpts from The Pop Culture Business Handbook for Cons and Festivals, which provides the business, strategy, and legal reference guide for fan conventions, film festivals, musical festivals, and cultural events.When organizing a festival or Con, the economic model used to develop the event will drive many of the key decisions. If one accepts that the designing of the Con is a form of building a complex game for the attendees, then the Con economy will define many of the structural design choices which will come later in the planning. These chapters …

Combating Impunity: Contractor Liability For Torture During Times Of War Under The Wartime Suspension Of Limitations Act, Claire Jabbour

American University Business Law Review

No abstract provided.

Contracts, Causation, And Clarity, Daniel P. O'Gorman

Faculty Scholarship

No abstract provided.

Calculating Artists’ Royalty: An Analysis Of The Courts’ Dualistic Interpretations Of Recording Contracts Negotiated In A Pre-Digital Age, Nina Aragon

Cardozo Law Review de•novo

This Note examines the disparity in the courts’ rulings in the Malmsteen and F.B.T. cases, specifically the different ways in which each court interpreted the contractual language of the parties’ preInternet recording agreements, and their application of royalty rates. Part I of this Note provides an overview of the royalty structure used to compute royalty rates for compact discs (CDs). Part I discusses on the economic effects of switching to a digital distribution system, the sales versus license distinction, and the principles relied on by the courts to interpret pre-Internet contracts. Part II of this Note examines the courts’ rulings …

Who Needs Contracts? Generalized Exchange Within Investment Accelerators, Brad Bernthal

Marquette Law Review

This Article investigates why an expert volunteers on behalf of startups that participate in a novel type of small venture capital ("VC") fund known as a mentor-driven investment accelerator ("MDIA"). A MDIA organizes a pool of seasoned individuals - called "mentors" - to help new companies. An obvious organizational strategy would be to contract with mentors. Mentors instead voluntarily assist. Legal studies of norm-based exchanges do not explain what this Article calls the "mentorship conundrum" - i.e., the puzzling motivation of a mentor to volunteer within otherwise for-profit environments. This Article is the first to bridge the insights of generalized …

Market Information And The Elite Law Firm, Elisabeth De Fontenay

Faculty Scholarship

As a subcategory of contract negotiations, corporate transactions present information problems that have not been fully analyzed. In particular, the literature does not address the possibility that parties may simply be unaware of value-increasing transaction terms or their outside option. Such unawareness can arise even for transactions that attract many competing parties, if the bargaining process is such that (1) the price terms are negotiated and fixed prior to the non-price terms, contrary to the standard assumption; and (2) some of the non-price terms remain private for some period of time.

A simple bargaining model shows that, when such unawareness …

Deal Momentum, Cathy Hwang

Utah Law Faculty Scholarship

Why do parties use non-binding agreements? This Article explores the role of nonbinding preliminary agreements in mergers and acquisitions (M&A) deals. It provides a modern, comprehensive account of how and why sophisticated parties use these common bargaining tools, even when they have the option of using binding contracts.

In M&A deals, parties enter into non-binding preliminary agreements, such as term sheets and letters of intent. Once parties sign a non-binding agreement, they behave as though bound and almost always follow up with a formal contract with terms that closely resemble the non-binding agreement’s terms. Scholars and courts have long treated …

Conspicuous Philanthropy: Reconciling Contract And Tax Laws, William A. Drennan

American University Law Review

It sold for $15 million, and the IRS treated it as worthless. Avery Fisher, a titan of industry and a lover of classical music, made a generous contribution to renovate a charity's building, and in exchange the charity agreed to name the building after Fisher in perpetuity. Forty years later, the Fisher family sold the naming rights back to the charity for $15 million in cash. The IRS treats these publicity rights as worthless when charities grant them, and this generates substantial tax benefits for the donor and the donor's family. In contrast, the common law can treat these publicity …

Bsl Holdings, Llc Et Al., Order On Defendants' Motions To Dismiss And Motions For More Definite Statement, Elizabeth E. Long

Superior Court of Fulton County: Metro Atlanta Business Case Division Opinions

No abstract provided.

Redefining Roles And Duties Of The Transactional Lawyer: A Narrative Approach, Lori D. Johnson

Scholarly Works

Today’s transactional lawyers perform myriad tasks for their clients, including structuring, drafting, conceptualizing, negotiating, and executing the complex, risky, and often cutting-edge transactions their clients bring to the table. On the other side of that table, often sits another team of sophisticated transactional lawyers. These opposing counsel are armed for battle over every nuance, every word, every representation, every deliverable, and every obligation their client is poised to undertake or agree to. Therefore, modern transactional lawyers must behave as advocates and explore new modes of persuasion. As a response, scholars have begun to propose that transactional lawyers employ methods of …

A Note On Victoria Laundry, Victor P. Goldberg

Faculty Scholarship

In Victoria Laundry v Newman, Asquith LJ claimed that the headnote in Hadley v. Baxendale was “definitely misleading” noting that had it been accurate, the decision would have been decided the other way. In this note, I argue that the headnote was not misleading and, even if it were, his conclusion did not follow. His interpretation lowered the standard for finding liability for consequential damage. Given the facts, Victoria Laundry would have lost, even with his new standard. His solution was simple: alter the facts.

Electronic Signatures In Agriculture: Law, Guidelines, And Recommendations, John Hughes, Sangramsinh Shinde, John L. Brown

Kentucky Journal of Equine, Agriculture, & Natural Resources Law

No abstract provided.

Why Arbitration Clauses May Make Sense In Cyber Insurance Policies, Andrew Nadolna, Adrienne Publicover, Daniel Garrie

Cardozo Journal of Conflict Resolution

In this Article, we will argue that policyholders should ask for an arbitration clause in their cyber policies and negotiate over the terms. We will also argue that insurers should offer more options in this space. In this regard, modular arbitration clauses can prove useful for both sides and lead to an effective dispute resolution mechanism for dealing with what may turn out to be a flood of cyber coverage disputes.

We will start with a discussion of the principal objections policyholders often have to mandatory arbitration clauses. Then we will discuss why some of these objections may cut differently …

Taxing Greed, Genevieve Tokić

Loyola of Los Angeles Law Review

Appeals to greed in support of various tax proposals are often seen in response to populist moods in politics. Such appeals may be used to garner political support for a policy or proposal. However, there has been little academic consideration of the role of greed (or attitudes towards greed) in the law, and in tax law in particular. This Article seeks to fill that gap by taking a close look at the concept of greed. In doing so, the Article first surveys the history of greed and its meaning, and draws on political philosophy and economic literature to provide a …

An Empirical Study Of Law Journal Copyright Practices, 16 J. Marshall Rev. Intell. Prop. L. 207 (2017), Brian Frye, Christopher Ryan, Franklin Runge

UIC Review of Intellectual Property Law

This article presents an empirical study of the copyright practices of American law journals in relation to copyright ownership and fair use, based on a 24-question survey. It concludes that many American law journals have adopted copyright policies that are inconsistent with the expectations of legal scholars and the scope of copyright protection. Specifically, many law journals have adopted copyright policies that effectively preclude open-access publishing, and unnecessarily limit the fair use of copyrighted works. In addition, it appears that some law journals may not understand their own copyright policies. This article proposes the creation of a Code of Copyright …

The Concurrent Liability In Contract And Tort Under U.S. And English Law: To What Extent Plaintiff Is Entitled To Recover For Damages Under Tort Claim?, Phutchaya Numngern

Maurer Theses and Dissertations

Both U.S. and English courts has confronted with the concurrent situations mostly occurring in the cases where 1) the plaintiff asks for the recovery in tort claim despite the existence of contractual relationship or 2) the plaintiff asserts contract claim but the defendant contends that the issue at bar should be sound in tort rather than in contract. After studying all relevant cases and academic writings, this thesis found that both U.S. and English systems generally recognize concurrent tort claim as an elective right. The courts have attempted to provide the justified rationales either to allow the plaintiffs tort claim …

In Pursuit Of Good & Gold: Data Observations Of Employee Ownership & Impact Investment, Christopher Geczy, Jessica S. Jeffers, David K. Musto, Anne M. Tucker

Faculty Publications By Year

A startup's path to self-sustaining profitability is risky and hard, and most do not make it. Venture capital (VC) investors try to improve these odds with contractual terms that focus and sharpen employees' incentives to pursue gold. If the employees and investors expect the startup to balance the goal of profitability with another goal - the goal of good - the risks are likely to both grow and multiply. They grow to the extent that profits are threatened, and they multiply to the extent that balancing competing goals adds a dimension to the incentive problem. In this Article, we explore …

Contracting Out Of The Fiduciary Duty Of Loyalty: An Empirical Analysis Of Corporate Opportunity Waivers, Gabriel Rauterberg, Eric L. Talley

Faculty Scholarship

For centuries, the duty of loyalty has been the hallowed centerpiece of fiduciary obligation, widely considered one of the few “mandatory” rules of corporate law. That view, however, is no longer true. Beginning in 2000, Delaware dramatically departed from tradition by granting incorporated entities a statutory right to waive a crucial part of the duty of loyalty: the corporate opportunities doctrine. Other states have since followed Delaware’s lead, similarly permitting firms to execute “corporate opportunity waivers.” Surprisingly, more than fifteen years into this reform experiment, no study has attempted to either systematically measure the corporate response to these reforms or …