Legal Remedies Commons^™

Pricing Lives For Corporate Risk Decisions, W. Kip Viscusi

Vanderbilt Law Review

The 2014 GM ignition-switch recall highlighted the inadequacies of the company's safety culture and the shortcomings of regulatory sanctions. The company's inattention to systematic thinking about product safety can be traced to the hostile treatment of corporate risk analyses by the courts. This Article proposes that companies should place a greater value on lives at risk than they have in previous risk analyses and that they should receive legal protections for product risk analyses. Companies' valuations of fatality risks and regulatory penalties have priced lives too low. The guidance provided by the value of a statistical life, which is currently …

Constitutional Limitations On Punitive Damages: Ambiguous Effects And Inconsistent Justifications, Benjamin J. Mcmichael

Vanderbilt Law Review

Punitive damages occupy a special place in the U.S. legal system. Courts award them in very few cases, yet they have been the center of tort reform efforts because of their controversial nature.' This controversy centers around the purposes for which punitive damages are awarded-to punish reprehensible conduct and to deter future bad acts. While compensatory damages exist to redress specific harms and to compensate a victim for a particular harm suffered, punitive damages exist to further the much broader social goals of retribution and deterrence.

Because punitive damages must be calibrated to achieve these broad social goals, they necessarily …

Punitive Damages: A Relic That Has Outlived Its Origins, James B. Sales, Kenneth B. Cole, Jr.

Vanderbilt Law Review

The doctrine of punitive damages truly is an ancient legal concept that inexplicably has evaded commitment to the archives of history. Irrespective of the questionable validity of the doctrine at early common law, the simple fact remains that none of the historical justifications supports the punitive damage theory in today's tort reparations system. The quest to bestow increasing compensation no longer can justify punitive damage awards because actual damages currently recoverable compensate plaintiffs more than adequately for every conceivable element of physical, emotional, or imagined injury. The desire to inflict punishment, likewise, represents an insupportable basis for awarding quasi-criminal fines …

Equity--1959 Tennessee Survey, T. A. Smedley

Vanderbilt Law Review

The amazing versatility of the chancery courts in Tennessee has been demonstrated again in two decisions handed down during the past year; but on the other hand, two cases decided in this interval disclosed evidence of the regrettable "decadence of equity" which Dean Pound deplored more than half a century ago.' In most of the other decisions which may be classified under the ambiguous heading of "Equity," only normal application of established principles to routine situations seems to have been involved.