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Articles 1 - 6 of 6
Full-Text Articles in Law and Economics
The “Ensuing Loss” Clause In Insurance Policies: The Forgotten And Misunderstood Antidote To Anti-Concurrent Causation Exclusions, Chris French
Journal Articles
As a result of the 1906 earthquake and fire in San Francisco which destroyed the city, a clause known as the “ensuing loss” clause was created to address concurrent causation situations in which a loss follows both a covered peril and an excluded peril. Ensuing loss clauses appear in the exclusions section of such policies and in essence they provide that coverage for a loss caused by an excluded peril is nonetheless covered if the loss “ensues” from a covered peril. Today, ensuing loss clauses are found in “all risk” property and homeowners policies, which cover all losses except for …
The “Non-Cumulation Clause”: An “Other Insurance” Clause By Another Name, Chris French
The “Non-Cumulation Clause”: An “Other Insurance” Clause By Another Name, Chris French
Journal Articles
How long-tail liability claims such as asbestos bodily injury claims and environmental property damage claims are allocated among multiple triggered policy years can result in the shifting of tens or hundreds of millions of dollars from one party to another. In recent years, insurers have argued that clauses commonly titled, “Prior Insurance and Non-Cumulation of Liability” (referred to herein as “Non-Cumulation Clauses”), which are found in commercial liability policies, should be applied to reduce or eliminate their coverage responsibilities for long-tail liability claims by shifting their coverage responsibilities to insurers that issued policies in earlier policy years. The insurers’ argument …
Comment: On Contractual Defaults And Experimental Law And Economics, Avishalom Tor
Comment: On Contractual Defaults And Experimental Law And Economics, Avishalom Tor
Journal Articles
It is possible that contract default rules, whose relevance is contingent upon parties' agreement to contract, differ from other default states. Parties therefore might not perceive contingent contractual defaults as relevant reference points. Ironically, however, Sloof, Oosterbeek and Sonnemans' (SOS) "default contract" applied inevitably whenever proposed and whenever Respondents rejected a non-default proposal, bearing greater resemblance to a legal right than to a contractual default. Thus, the contingency of typical contractual defaults cannot account for the No Bias Finding. Other aspects of the SOS experimental design, on the other hand, may explain the No Bias Finding.
Penalty Defaults In Family Law: The Case Of Child Custody, Margaret F. Brinig
Penalty Defaults In Family Law: The Case Of Child Custody, Margaret F. Brinig
Journal Articles
This paper considers whether an amendment to state divorce laws that strengthens its joint custody preference operates as a traditional default rule, specifying what most divorcing couples would choose or as a penalty default rule the parties will attempt to contract around.
While the Oregon statutes that frame our discussion here, like most state laws, do not state an explicit preference for joint custody, shared custody is certainly encouraged by Section 107.179, which refers cases in which the parties cannot agree on joint custody to mediation and by Section 107.105, which requires the court to consider awarding custody jointly. In …
"Money Can't Buy Me Love": A Contrast Between Damages In Family Law And Contract, Margaret F. Brinig
"Money Can't Buy Me Love": A Contrast Between Damages In Family Law And Contract, Margaret F. Brinig
Journal Articles
As my contribution to this symposium in David's honor, I submit the law and economics section of the damages chapter of our joint enterprise, Understanding Contracts. Because of David's failing health, my own involvement with the publisher never reached contract stage. The chapter concludes with a problem that illustrates some of the intricacies of mixing family law and contract. David and I grappled for some time with the answer to the problem, coming at it from our different points of view. On one occasion, David, with a twinkle, told me there was only one place where I was "absolutely wrong." …
Co-Operative Marketing--Statutes Providing Penalty Against Third Persons Who Induce Breach Of Marketing Contracts, Thomas F. Broden
Co-Operative Marketing--Statutes Providing Penalty Against Third Persons Who Induce Breach Of Marketing Contracts, Thomas F. Broden
Journal Articles
Capitalism is most prudent in accepting into its legal system measures of governmental regulation which apply to economic relations generally and contract relations particularly. Efforts of the executive, legislative or judicial branches of either British or American governments to directly control phases of contractual relationships have generally met staunch and rigid opposition. The spirit of the sacredness and inviolability of the contract relation was a logical outgrowth of the capitalistic system in its inception. At that time freedom was a passion, self-sufficiency a goal. From an era thus shrouded and bedecked with individualism, it is little wonder that measures affecting, …