Contracts Commons^™

A Comparison Of Milestone-Based And Buyout Options Contracts For Coordinating R&D Partnerships, Shantanu Bhattacharya, Vibha Gaba, Sameer Hasija

Research Collection Lee Kong Chian School Of Business

We analyze optimal contractual arrangements in a bilateral research and development (R&D) partnership between a risk-averse provider that conducts early-stage research followed by a regulatory verification stage and a risk-neutral client that performs late-stage development activities, including production, distribution, and marketing. The problem is formulated as a sequential investment game with the client as the principal, where the investments are observable but not verifiable. The model captures the inherent incentive alignment problems of double-sided moral hazard, risk aversion, and holdup. We compare the efficacy of milestone-based options contracts and buyout options contracts from the client's perspective and identify conditions under …

Commerce, Commonality, And Contract Law: Legal Reform In A Mixed Jurisdiction, Christopher K. Odinet

Faculty Scholarship

This Article explores the tradition/reform dichotomy as it exists in certain jurisdictions that, because of their unique history and nature, are particularly susceptible to the struggle between legal tradition and legal reform — mixed jurisdictions. In order to more closely examine the tradition/reform dichotomy and its theoretical and practical effects, this Article analyzes the role that traditional legal institutions play in the legal reform process through the lens of America’s lone mixed jurisdiction — Louisiana.

By exploring Louisiana’s subtle, yet prevalent, anchor-like legal conundrum caused by the struggle between progress and tradition — the process of mooring oneself to existing …

A Corporation's Securities Litigation Gambit: Fee-Shifting Provisions That Defend Against Fraud-On-The-Market, Steven W. Lippman

University of Richmond Law Review

Part I discusses the current landscape of securities class action litigation. It explains how and why the suits are initiated and dis­ cusses the outcome of Halliburton Co. v. Erica P. John Fund, Inc. (HalliburtonII).19 PartII discusses the framework for the proposi­tion of this comment. It provides a brief history of significant cas­ es and incorporates several recent cases that have opened the door to the possibility of implementing fee-shifting clauses. It concludes with a comparison to other contractual provisions cur­ rently being implemented by corporations and also analyzes fee­ shifting provisions under federal preemption. Part III explains why implementing …

Good Faith: Helping Commercial Parties Or Creating An Unnecessary Burden?, Ee-Ing Ong

Research Collection Yong Pung How School Of Law

One of the challenges facing Asian legal systems in the coming years is whether the courts should impose a general duty of good faith in contracts. The doctrine of good faith has been making inroads in various common law jurisdictions, most recently in Canada where the Supreme Court held in Bhasin v. Hrynew, 2014 SCC 71 that there was a duty of honest performance in all contracts. The idea behind imposing a duty of good faith in all contracts is to ensure that parties essentially “play fair” in contract negotiations and/or performance. However, is such a duty really necessary for …

The Convention On Contracts For The International Sale Of Goods And The General Conditions For The Sale Of Goods, H. Lalla Shishkevish

Georgia Journal of International & Comparative Law

No abstract provided.

Jeanne Viator, Order On Defendant Tom Woodward’S Renewed Partial Motion To Dismiss, Or Alternatively, Motion For A More Definite Statement, And Motion To Strike, Alice D. Bonner

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

No abstract provided.

Too Clever By Half: Reflections On Perception, Legitimacy, And Choice Of Law Under Revised Article 1 Of The Uniform Commercial Code, Mark Edwin Burge

William & Mary Business Law Review

The overwhelmingly successful 2001 rewrite of Article 1 of the Uniform Commercial Code was accompanied by an overwhelming failure: proposed section 1-301 on contractual choice of law. As originally sent to the states, section 1-301 would have allowed non-consumer parties to a contract to select a governing law that bore no relation to their transaction. Proponents justifiably contended that such autonomy was consistent with emerging international norms and with the nature of contracts creating voluntary private obligations. Despite such arguments, the original version of section 1-301 was resoundingly rejected, gaining zero adoptions by the states before its withdrawal in 2008. …

Courts Gone “Irrationally Biased” In Favor Of The Federal Arbitration Act?—Enforcing Arbitration Provisions In Standardized Applications And Marginalizing Consumer-Protection, Antidiscrimination, And States’ Contract Laws: A 1925–2014 Legal And Empirical Analysis, Willy E. Rice

William & Mary Business Law Review

Spanning nearly forty years, the Supreme Court has issued multiple decisions and stated categorically that “judicial hostility to arbitration” was the sole impetus behind Congress’s decision to enact the Federal Arbitration Act of 1925. In fact, before the FAA, systemic trade-specific problems and practices generated heated disputes and widespread litigation among merchants and trade organizations. Thus, to arrest those constituents’ concerns, Congress enacted the FAA. Briefly, under the FAA section 2, arbitration is mandatory if a contractual arbitration provision is valid and a controversy “arises out of the contract.” However, common-law rules of contract formation are equally clear: Standing alone, …

Bernard H. Bronner, Order On Plaintiff's Motion To Dismiss, Melvin K. Westmoreland

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

No abstract provided.

Global Aerospace, Inc., Corrected Order On Choice Of Law, Elizabeth E. Long

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

No abstract provided.

Employee Beware! Employment Agreements And What The Technology Related Employee Should Know And Understand Before Signing That Agreement: A Practical Guide, Louis J. Papa

Touro Law Review

No abstract provided.

The Conflict Between Forum-Selection Clauses And State Consumer Protection Laws: Why Illinois Got It Right In Jane Doe V. Match.Com, Marty Gould

Chicago-Kent Law Review

To what extent can companies “contract out” of state consumer protection statutes through the use of choice of law and forum selection clauses in standard form adhesion contracts? The only court in Illinois to rule on the issue, a state court case dealing with Match.com, held that the Illinois Dating Referral Services Act (IDRSA) voids forum-selection clauses contrary to stated Illinois public policy, as declared by Illinois statutes. Outside of Illinois, however, federal courts have held that the exact same Match.com forum-selection clause was valid and enforceable despite being in direct conflict with similar statutes in other states. These cases …

A Tax Audible: Coaches And Buyouts, Jeffrey H. Kahn

Scholarly Publications

No abstract provided.

John Souza, Order On Plaintiff’S Motion For Temporary Restraining Order, Elizabeth E. Long

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

No abstract provided.

Indiana And Doux Commerce, Nathan B. Oman

Popular Media

No abstract provided.

Governing Law On Forum-Selection Agreements, Kevin M. Clermont

Cornell Law Faculty Publications

The task of determining which law governs a contractual choice-of-forum clause is an enigma to courts. The key to its solution lies at the very heart of the subject, where one encounters its most celebrated riddle: Which law governs when the parties have also agreed to a choice-of-law clause-that is, does a court first test the forum-selection clause under the law of the seised forum, or does one first look at the parties' choice of law to apply the chosen law to the forum-selection clause?

This chicken-or-egg mystery throws courts into contortions. Prior commentators have opted for the chosen law. …

Duress As Rent-Seeking, Mark Seidenfeld, Murat C. Mungan

Faculty Scholarship

The doctrine of duress allows a party to avoid its contractual obligations when that party was induced to enter the contract by a wrongful threat while in a dire position that left it no choice but to enter the contract. Although threats of criminal or tortious conduct clearly are wrongful, under the doctrine of “economic duress” courts have held that other threats can be wrongful and hence the basis of a duress defense. Courts, however, have not developed a coherent understanding of what makes such non-criminal and non-tortious threats wrongful.

This Article proposes that a threat should be wrongful when …

Franchise And Contract Asymmetry: A Common Trans-Atlantic Agenda?, Tibor Tajti

Loyola of Los Angeles International and Comparative Law Review

Normative legal theories, no matter whether pluralist or monist, tend to formulate what the law should be. Based on what values, either on a purely theoretical plane, or based on a single or a few paradigm contracts – the contours of which seem to be most solidified according to common opinion – like sales contracts. They fail, however, to answer the query about what happens in cases of newer-generation contracts, such as franchise contracts, one of the quintessential features of which is information and strategic asymmetry. The basic premise of this article is that given the European popularity of business …

Chevron For Juries, William Ortman

Cardozo Law Review

Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc. rests on two now-familiar premises. First, for some statutes, the traditional tools of statutory interpretation more readily yield a range of plausible meanings than a single correct reading. Second, judges are not always the officials best positioned to select one interpretation of a statute from among the plausible options. Chevron relied on these premises to decide that when a court finds ambiguity in a statute administered by an agency, it must defer to the agency's interpretation of the statute, so long as it is reasonable. But while administrative law provided a …

Crowdfunding Human Capital Contracts, Max Vogel

Cardozo Law Review

No abstract provided.

Too Clever By Half: Reflections On Perception, Legitimacy, And Choice Of Law Under Revised Article 1 Of The Uniform Commercial Code, Mark Edwin Burge

Faculty Scholarship

The overwhelmingly successful 2001 rewrite of Article 1 of the Uniform Commercial Code was accompanied by an overwhelming failure: proposed section 1-301 on contractual choice of law. As originally sent to the states, section 1-301 would have allowed non-consumer parties to a contract to select a governing law that bore no relation to their transaction. Proponents justifiably contended that such autonomy was consistent with emerging international norms and with the nature of contracts creating voluntary private obligations. Despite such arguments, the original version of section 1-301 was resoundingly rejected, gaining zero adoptions by the states before its withdrawal in 2008. …

The Need For A Law Of Church And Market, Nathan B. Oman

Faculty Publications

This Essay uses Helfand and Richman’s fine article to raise the question of the law of church and market. In Part I, I argue that the question of religion’s proper relationship to the market is more than simply another aspect of the church-state debates. Rather, it is a topic deserving explicit reflection in its own right. In Part II, I argue that Helfand and Richman demonstrate the danger of creating the law of church and market by accident. Courts and legislators do this when they resolve questions religious commerce poses by applying legal theories developed without any thought for the …

Rudy Blake Frazier Et Al., Order On Defendant's Emergency Motion For Sanctions, Elizabeth E. Long

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

No abstract provided.

La Famiglia Trust, Final Order And Judgment, John J. Goger

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

No abstract provided.

Michael D. Sullivan, Order On Directed Verdict In Favor Of Defendant Marc Cello And The Cello Law Group And Order Transferring Case To The Superior Court Of Cherokee County, Elizabeth E. Long

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

No abstract provided.

Negotiating And Drafting The International Sales Contract And Related Agreements, John Gornall

Georgia Journal of International & Comparative Law

No abstract provided.

Licensing Of Intellectual Property Rights, Mark Joelson

Georgia Journal of International & Comparative Law

No abstract provided.

Foreign Sovereign Immunities Act - Immunity Exception Provisions Of § 1330(A) - Harris Corp. V. National Iranian Radio & Television, Melanie Howell

Georgia Journal of International & Comparative Law

No abstract provided.

Annual Survey Of Developments In International Trade Law: 1983, Georgia Journal Of International And Comparative Law

Georgia Journal of International & Comparative Law

No abstract provided.

Product Liability Law In Japan: An Introduction To A Developing Area Of Law, Younghee Jin Ottley, Bruce L. Ottley

Georgia Journal of International & Comparative Law

No abstract provided.