Contracts Commons^™

A House Divided Against Itself Cannot Stand: The Need To Federalize Surrogacy Contracts As A Result Of A Fragmented State System, 49 J. Marshall L. Rev. 1155 (2016), Brett Thomaston

UIC Law Review

This comment will explain the necessity for federal regulation of surrogacy contracts by analyzing the current state of surrogacy laws across the United States. This will be accomplished by examining the fragmented state system and how this largely ignored area of the law has been a feeding ground for widespread forum shopping and inconsistent results. This comment will then address the public policy reasons in support of enforcing these contracts. Next, this comment will examine the avenues of congressional power for regulating these types of contracts. Lastly, this comment will propose that the federal government implement legislation containing key language …

Lack Of Marketability And Minority Discounts In Valuing Close Corporation Stock: Elusiveness And Judicial Synchrony In Pursuit Of Equitable Consensus, Stephen J. Leacock

Faculty Scholarship

No abstract provided.

Closing A Parol Evidence Rule Loophole: The Consideration Exception And The Preexisting Duty Rule, Daniel P. O'Gorman

Faculty Scholarship

No abstract provided.

When Lightning Strikes: Hadley V. Baxendale's Probability Standard Applied To Long-Shot Contracts, Daniel P. O'Gorman

Faculty Scholarship

No abstract provided.

Reasonable Standards For Contract Interpretations Under The Cisg, Donald J. Smythe

Faculty Scholarship

The United Nations ("UN") Convention on Contracts for the International Sale of Good ("CISG") offers the promise of harmonizing international sales law and facilitating international trade and global commerce. But there is a "homeward trend bias" that may encourage domestic courts to construe the gaps in the CISG broadly and fill them with non-uniform domestic legal rules. Questions about contract interpretation under the CISG raise the same concerns about a homeward trend bias as questions about the interpretation of express CISG provisions. The CISG has express provisions governing contract interpretation but their application may not provide an unambiguous interpretation. This …

Student-Athletes Vs. Ncaa: Preserving Amateurism In College Sports Amidst The Fight For Player Compensation, Audrey C. Sheetz

Brooklyn Law Review

While student-athletes are the backbone of the $11 billion college sports industry, they do not currently receive any of this revenue derived from the use of their names, images, and likenesses. The National College Athletic Association’s mission is to maintain the amateur status of student-athletes. In doing so, it precludes student-athletes from receiving any type of compensation outside of the actual cost of tuition. Amateurism, as a concept, promotes the distinction between professional and student athletes, and is the crux of the NCAA’s argument for prohibiting the compensation of student-athletes. Recently, however, the controversy surrounding the amateur status of college …

Waive Goodbye To Appellate Review Of Plea Bargaining: Specific Performance Of Appellate Waiver Provisions Should Be Limited To Extraordinary Circumstances, Holly P. Pratesi

Brooklyn Law Review

In the federal criminal justice system, plea bargaining remains the predominant method for disposing of cases. An important provision in most plea agreements consists of the waiver of the defendant’s right to appeal the conviction or sentence. This note explores the constitutional, contractual, and policy implications of a recent Third Circuit decision that would allow specific performance as a remedy where a defendant’s only breach of the plea agreement consists of filing an appeal arguably precluded by an appellate waiver provision. This note argues that the approach taken by the Third Circuit in United States v. Erwin could effectively preclude …

Liberalism’S Fine Print: Boilerplate’S Allusion To Human Nature, Kenneth K. Ching

Marquette Law Review

None

Poached Eggs: The Misclassification Of Egg Donors As Independent Contractors And How Egg Donors Can Contribute To The Argument For A New Category Of Worker-The Dependent Contractor, Carol L. Williamson

Georgia Law Review

As the growth in demand for egg donors is met with an
increasing number of women willing to supply their eggs,
changes need to be made to the way egg donors, and other
similarly situated workers, are classified in the
employment context. Most donor contracts are employer-
created forms that designate the donors as independent
contractors and thus spare the clinic the duty of providing
employment benefits. Unlike other on-demand service
providers, such as Uber-drivers, that have recently sought
re-classification as employees, women who donate eggs are
subject to physically invasive procedures and long-term
health risks that particularly obviate the …

Remedy Realities In Business-To-Consumer Contracting, Amy J. Schmitz

Faculty Publications

Professor Jean Braucher greatly contributed to the exploration of consumer and contract law by questioning how the law operates in the real world and highlighting the importance of “law in action.” In recognition of that contribution, this Article focuses on law in action with respect to consumers’ quest to obtain remedies regarding their business-to-consumers (“B2C”) contracts. Currently, consumers often have no practical recourse with respect to B2C purchase problems due to the complexity, cost, and inconvenience of the processes for obtaining remedies. Accordingly, stated legal rights become meaningless for individuals living in the real world. This Article, therefore, explores access …

Contracts (Supplementary Cases): 2016-17, Robert E. Forbes

Osgoode Course Casebooks

Course Number 1010

A Study On The Legality Of Royalty Collection Clauses After Expiration Of Patent Rights, 15 J. Marshall Rev. Intell. Prop. L. 213 (2016), Wei-Lin Wang

UIC Review of Intellectual Property Law

Whether a contract clause may permit a patent owner to continuously collect royalty payments from a licensee after the expiration of its patent rights is a highly controversial issue in practice. Some believe that because patent rights are a kind of monopoly granted by the government, it shall not be extended after expiration; otherwise, it shall be regarded as patent misuse and/or unfair competition as the case may be. Nonetheless, others believe that this kind of clause is actually beneficial to a licensee because the licensee is allowed to make royalty payments throughout the whole patent term and even after …

Using The West Key Number System As A Data Collection And Coding Device For Empirical Legal Scholarship: Demonstrating The Method Via A Study Of Contract Interpretation, Joshua M. Silverstein

Law Faculty Scholarship

Empirical research is an increasingly important type of legal scholarship. Such research generally requires the collection and coding of large quantities of data. These tasks pose critical challenges for legal scholars. Most crucially, they are often resource-intensive. The primary purpose of this article is to explain how researchers can use the West Key Number System to dramatically streamline the process of data collection and coding. The article accomplishes this, in part, through a demonstration: it employs the Key Number System to conduct an empirical study of contract interpretation.

Contract interpretation is one of the most significant areas of commercial law. …

Online Contracting, Nancy Kim

Faculty Scholarship

No abstract provided.

College Football Coaches’ Pay And Contracts: Are They Overpaid And Unfairly Treated?􀀃, Randall Thomas, Lawrence Van Horn

Indiana Law Journal

College football coaches’ employment contracts and compensation garner public attention and scrutiny in much the same way as those of corporate CEOs. In both cases, the public perception is that they must be overpaid and pampered. Economic theory claims that for coaches and CEOs to be overpaid, they must be receiving compensation in excess of the value they create for their organizations. However, both receive pay-for-performance compensation, which structurally aligns their compensation with value creation. This means we need to examine the underlying structure of the contract that gives rise to the observed compensation to determine whether they are appropriately …

Mind The Gap, Charles H. Ii Brower

Law Faculty Research Publications

No abstract provided.

For Richer, Not Poorer: Premarital Waivers Of Spousal Support In California, J. Nicholas Marfori

Loyola of Los Angeles Law Review

California law is fairly straightforward with respect to premarital agreements that seek to alter community property rights in the event of a divorce. But it is unclear and unsettled with respect to those agreements that seek to limit or waive spousal support. Although California prohibits courts from enforcing premarital waivers of spousal support if it would be unconscionable to do so at the time of enforcements, courts have not articulated a clear standard for what that means. California made its first attempt to do so in In re Marriage of Facter. This Article considers that decision in illustrating how current …

Defining Agency And Its Scope (Ii), Deborah A. Demott

Faculty Scholarship

Fiduciary law necessarily raises issues of delineation and demarcation, which this paper demonstrates through examples involving common-law agents. Serving as an agent, and thus as a fiduciary, does not necessarily mean that agency law prescribes all duties that the agent owes the principal. The agent may have rights external to the relationship that the agent may exercise, distinct from the duty of loyalty owed the principal. When an agent acts outside the bounds of an agency relationship, the principal’s consent is not requisite to conduct that would constitute disloyalty within the bounds of the agency relationship. The paper illustrates the …

Pricing Contract Terms In A Crisis: Venezuelan Bonds In 2016, Elena Carletti, Paolo Colla, Mitu Gulati, Steven Ongena

Faculty Scholarship

As of this writing in June 2016, the markets are predicting Venezuela to be on the brink of default. On June 1, 2016, the 6 month CDS contract traded at about 7000bps which translates into a likelihood of default of over 90%. Our interest in the Venezuelan crisis is that its outstanding sovereign bonds have a unique set of contractual features that, in combination with its near-default status, have created a natural experiment. This experiment has the potential to shed light on one of the long standing questions that sits at the intersection of the fields of law and finance, …

The Pricing Of Non-Price Terms In Sovereign Bonds: The Case Of The Greek Guarantees, Stephen J. Choi, Mitu Gulati

Faculty Scholarship

In March 2012, Greece conducted one of the biggest and most brutal sovereign debt restructurings ever, asking holders of Greek government bonds to take net present value haircuts of near 80 percent. Greece forced acquiescence to its terms from a large number of its bonds by using a variety of legal strong-arm tactics. With the vast majority of Greek bonds, the tactics worked. There were, however, thirty-six bonds guaranteed by the Greek state, which, because of the weakness of the underlying companies, were effectively obligations of the Greek state. Yet, on these thirty six bonds, even though Greece desperately needed …