Contracts Commons^™

Text And Context: Contract Interpretation As Contract Design, Ronald J. Gilson, Charles F. Sabel, Robert E. Scott

Faculty Scholarship

Contract interpretation remains the most important source of commercial litigation and the most contentious area of contemporary contract doctrine and scholarship. Two polar positions have competed for dominance in contract interpretation. In a textualist regime, generalist courts cannot consider context; in a contextualist regime, they must. Underlying this dispute are contrary assumptions about the prototypical contract each interpretive style addresses. For modern textualists, contracts are bespoke, between legally sophisticated parties who embed as much or as little of the contractual context as they wish in an integrated writing and prefer to protect their choices against judicial interference by an interpretive …

State Contract Law And Debt Contracts, Colleen Honigsberg, Sharon Katz, Gil Sadka

Ira M. Millstein Center for Global Markets and Corporate Ownership

This paper examines the relationship between debt contracts and state contract law. We first develop an index to evaluate whether each state’s law is favorable or unfavorable to lenders. We then analyze how the contract terms, the frequency of covenant violations, and the repercussions of covenant violations vary across states. We find that cash collateral is most likely to be used when the contract is governed by law that is favorable to debtors and that out-of-state borrowers who use favorable law pay higher yield spreads. In addition, when the law is favorable to lenders, there are significantly fewer covenant violations, …

A Wrong Turn In History: Re-Understanding The Exclusionary Rule Against Prior Negotiations In Contractual Interpretation, Yihan Goh

Research Collection Yong Pung How School Of Law

A reason justifying the exclusionary rule against prior negotiations in the interpretation of contracts is its longevity. Yet, the authorities commonly cited in support of the exclusionary rule are mostly traceable to Lord Wilberforce’s speech in the relatively recent case of Prenn v Simmonds. This article suggests that the law took a wrong turn in that case and caused later courts to support the exclusionary rule by recourse to policy-oriented justifications, instead of principle-based ones. The emphasis on policy-oriented justifications, and the recantation of Prenn v Simmonds as reason enough for the exclusionary rule, support an independent rule against prior …

The Anomaly Of Entrapment, Jessica A. Roth

Articles

Now in our second decade after 9/11, we are firmly in the prevention era of law enforcement. Faced with the unacceptable consequences of identifying threats too late, government agents are moving aggressively to identify potential terrorists before they strike. Undercover agents and confidential informants necessarily play a large role in such efforts. As a result of such operations, we have seen a number of cases brought to trial in the federal courts in which defendants have asserted the entrapment defense. To date, the defense has not succeeded. However, as a consequence of these cases, the United States Supreme Court may …

Contract Theory – Who Needs It?, Avery W. Katz

Faculty Scholarship

Philosophy is perfectly right in saying that life must be understood backward. But then one forgets the other clause – that it must be lived forward.
Soren Kierkegaard

Both law students and law teachers have traditionally been drawn to conceptual projects that attempt to systematize the field of contract law. The reasons for this are easy to see: the field is doctrinally complex, few beginning students have any substantial experience with the kinds of fact patterns that arise in the cases, and the law is a locus of contestation over fundamental issues of economic liberalism that go to the heart …

The Contractualization Of Family Law In The United States, Fernanda Nicola, Adrienne Hunter Jules

Scholarly Articles in Law Reviews & Journals

No abstract provided.

Order On Defendant's Motion To Dismiss (Mary Ann Digan Et Al.), Elizabeth E. Long

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

No abstract provided.

Order On Defendants' Motion For Partial Summary Judgment (North Star Jefferson, Llc Et Al.), Elizabeth E. Long

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

No abstract provided.

Order On Georgia-Pacific's Motion And Memorandum To Exclude Damages (Ezgreen Assoc. Llc), John J. Goger

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

No abstract provided.

Unilateral Reordering In The Reel World, Jake Linford

Scholarly Publications

No abstract provided.

Private Copyright Reform, Kristelia A. García

Michigan Telecommunications & Technology Law Review

The government is not the only player in copyright reform, and perhaps not even the most important. Left to free market negotiation, risk averse licensors and licensees are contracting around the statutory license for certain types of copyright-protected content, and achieving greater efficiency via private ordering. This emerging phenomenon, herein termed “private copyright reform,” presents both adverse selection and distributive justice concerns: first, circumvention of the statutory license goes against legislative intent by allowing for the reduction, and even elimination, of statutorily mandated royalties owed to non-parties. In addition, when presented without full term disclosure, privately determined royalty rates can …

Contract Texts, Contract Teaching, Contract Law: Comment On Lawrence Cunningham, Contracts In The Real World, Brian H. Bix

Washington Law Review

Lawrence Cunningham’s Contracts in the Real World offers a good starting place for necessary conversations about how contract law should be taught, and, more generally, for when and how cases—in summary form or in longer excerpts—are useful in teaching the law. This Article tries to offer some reasons for thinking that their prevalence may reflect important truths about contract law in particular and law and legal education in general.

Unilateral Reordering In The Reel World, Jake Linford

Washington Law Review

Professor Larry Cunningham’s new book, Contracts in the Real World, demonstrates that there is much to learn about contract law from a few well-chosen stories. The goal of this Essay is to provide a similar service, relying on stories gleaned from movies and television—contracts in the “reel world,” so to speak—to illustrate and then undermine the traditional stories told about contract formation and modification. We can learn much from the scenes discussed herein about how consumers might be led to think contracts are formed, and perhaps misled about the certainty contracts provide.

Reflections On Contracts In The Real World: History, Currency, Context, And Other Values, Lawrence A. Cunningham

Washington Law Review

It is gratifying to read that this symposium issue of the Washington Law Review was stimulated by Contracts in the Real World. Thanks to the editors for the opportunity to ruminate on the place of the book’s approach—stressing context through stories—in the tradition of contracts pedagogy. To that end, Part I first pinpoints relevant historical milestones in the field of contracts casebooks. Building on that historical grounding, Part II then highlights the values of currency and context that the stories approach epitomizes. Turning more speculative, Part III considers the value of this approach from the perspective of the purpose …

Mandatory Rules And Default Rules In Insurance Contracts, Tom Baker, Kyle D. Logue

Law & Economics Working Papers

The economic analysis of contract law can organized around two general questions: (1) what are the efficient or welfare-maximizing substantive rules of contract law; and (2) once those rules have been identified, when if ever should they be made mandatory and when should they be merely “default rules” that the parties can contract around if they wish? Much of contract theory over the past twenty years has been devoted to developing answers to those two questions. The same two questions can be posed with respect to the rules of insurance law. Although previous scholars have examined particular substantive doctrines of …

The Perspective Of Law On Contract, Aditi Bagchi

Washington Law Review

What is the perspective of law on contract? This Article will consider two dimensions of the perspective we offer students. Part I will consider how we present the nature of contract law. That is, it will explore the extent to which traditional methods of teaching unduly underplay indeterminacy and disagreement. In that Part I distinguish between inductive and deductive legal reasoning and suggest we may give short shrift to the former in teaching. Part II will consider the attitude of the law toward contract as a social practice. Here I distinguish between internal and external perspectives on law and suggest …

Cases And Controversies: Some Things To Do With Contracts Cases, Charles L. Knapp

Washington Law Review

As a co-author of one of the two dozen or more currently-in-print Contracts casebooks, I obviously have both a point of view about, and a personal stake in, the survival of this particular method of instruction. Whether the legal casebook—or any other book, in the form of bound sheets of paper—will remain a part of our academic culture much longer is clearly up for grabs, however. Electronic records have so many advantages over the printed page that, at least for many purposes, they will surely become the dominant form of preserving, retrieving, and transmitting information, if indeed they are not …

Visual Clarity In Contract Drafting, Karin Mika

Law Faculty Articles and Essays

No abstract provided.

Contract Stories: Importance Of The Contextual Approach To Law, Larry A. Dimatteo

Washington Law Review

How law is taught is at the center of the debate over the need to change legal education to better prepare students for a difficult and changing marketplace for legal services. This Article analyzes the benefits of using “stories” to teach law. The stories to be discussed relate to contract law: this Article asks whether they can be used to improve the method and content of teaching law. The ruminations offered on teaching contract law, however, are also relevant to teaching other core, first-year law courses.

Unpopular Contracts And Why They Matter: Burying Langdell And Enlivening Students, Jennifer S. Taub

Washington Law Review

Thus, the purpose of this piece is to provide an alternative: a transformation of how Contracts is taught in law schools so that we meet a variety of educational objectives. This is less of a prescription than it is a resolution made in the public sphere: a promise to shake things up in my own classroom and thus hopefully do better by students in the long run. It is also the beginning of a search to benchmark against the practices of others, and to seek input from those who have already begun to transform their Contracts teaching materials and methods. …