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Full-Text Articles in Legal Remedies
Punitive Surcharges Against Disloyal Fiduciaries--Is Rothko Right?, Richard V. Wellman
Punitive Surcharges Against Disloyal Fiduciaries--Is Rothko Right?, Richard V. Wellman
Michigan Law Review
This Article criticizes the award of a penalty surcharge in the name of appreciation damages. Contrary to the statements in the Rothko opinions, neither precedent nor treatises offers clear support for the shocking awards made against Rothko's disloyal executors. Furthermore, even if appreciation damages were to be viewed, against the thesis here advanced, as an appropriate remedy for some kinds of fiduciary breach, the measure is inappropriate for cases which, like Rothko, involve hidden conflicts of interest. This is so because the threat of severe penalties in hidden-conflict cases adds unacceptable legal costs to honest administrations-costs that cannot be …
A Perspective On The Michigan Law Of Damages, John W. Reed
A Perspective On The Michigan Law Of Damages, John W. Reed
Book Chapters
So also the subject of damages. There are some general principles, but damages is not a coherent body of law. It is small wonder that no one is writing books about it and that law schools do not provide courses in it. The standard, most widely cited text is McCormick on Damages, yet that book was published in 1935. There is no more recent book of consequence bearing that title. Professor Dan Dobbs's 1973 volume entitled Remedies contains, as one part of the book, an excellent analysis of recent damages developments; but McCormick continues to be the benchmark. As a …