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Corporate & Securities Law

ContractsProf Blog

Contract law resources, information, and news for the academic community.

Post Frequency: 8.1/day

Last Entry: April 01, 2011 at 16:53:52

Is Miss California in Breach of Contract?

Posted on May 12, 2009
Miss California - Carrie Prejean - has been getting a lot of press play lately. Just recently, at the Miss USA pageant, she got into a little bit of a jam when responding to Perez Hilton's question about same-sex marriage....

After a Home Short Sale, Lender May Still Seek the Difference

Posted on May 08, 2009
For underwater homeowners who opt for the short sale, this WSJ article suggests that they still might have to tread water. In a short sale, a seller facing foreclosure can work out a deal with the lender to sell the...

Now in Print

Posted on May 02, 2009
Paula D. Baron, Confused in Words: Unconscionability and the Doctrine of Penalties, 34 Monash U.L. Rev. 285 (2008). Omri Ben-Shahar, A Bargaining Power Theory of Default Rules, 109 Colum. L. Rev. 396 (2009). Curtis Bridgeman, Contracts as Plans, 2009 U...

Happy Law Day!

Posted on May 01, 2009
Happy Law Day! [Meredith R. Miller]

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Another Benefit of Contract-Based Warranties: Class Certification?

Posted on April 28, 2009
This blog's illustrious editor, Prof. Snyder, recently pointed out that tort law provides much better remedies than contracts-based breach of warranty claims, but students nevertheless need to know about contracts-based remedies because of the longer statute of limitations...

Man claims campground had contract duty to protect him from water balloon

Posted on April 28, 2009
A New Hampshire man who suffered injuries when he was hit by a water balloon fired by a slingshot is suing his campground, claiming that the facility owed a duty to protect him from being attacked. Things apparently get rowdly...

Your Public Interest Auction Donations

Posted on April 28, 2009
Over at PrawfsBlawg, Rose Cuison Villazor asks: what do you donate to your law school's public interest auction? Here's my answer. Each original print is signed by the undersigned, and they are pictured in the home of the 2008 auction...

When promisors' intent to perform is conditional

Posted on April 26, 2009
When a contracting party makes a promise, does it intend to keep that promise, "no matter what"? Gregory Klass of Georgetown says no. Every promise, he says, is conditional -- that is, the promisor intends to perform under what it...

Today in history: April 25

Posted on April 26, 2009
On this date in 1938, the United States Supreme Court shocked just about everyone with the release of Erie Railroad v. Tompkins, a decision that wiped nearly 100 years of federal common law off the books and became a permanent...

Contract law: the last resort of the tardy

Posted on April 26, 2009
Teaching contract remedies for breach of warranty, whether common law or UCC, often seems like a waste of time, since in many cirucmstances tort law provides superior remedies for defective products or services that cause injuries. But, as we often...

The case of the wry-faced llama

Posted on April 26, 2009
Karl Llewellyn liked to make fun of 19th century contract law as being based on the arms' length horse trade between two strangers. But two centuries later animal cases still come up with some frequency. Like this Georgia case, in...

Today in history: April 26

Posted on April 26, 2009
On this date in 1607, English employees of the privately held Virginia Company of London (left: the company seal) land at Cape Henry, Virginia, with the intent of founding a gold-mining operation. A month later they will found the first...

"Payday lender" squeezing defenseless . . . banks?

Posted on April 24, 2009
Guess who's feeling what it's like being in the clutches of a predatory lender? Yep, Americas's banks, who are suddenly discovering what a lot of consumers have discovered over the years: the peril of fine print in loan agreements. Here...

US News First: No law school sees ranking decline

Posted on April 24, 2009
The recent U.S. News rankings are out, and apparently every law school either rose in rankings or stayed the same, according to a survey of news releases by the schools. Announcing their highers rankings were, among others, William & Mary,...

Today in history: April 24

Posted on April 24, 2009
On this date in 1957, the Suez Canal reopens for business after its extended closure during the Suez Crisis. Egyptian President Gamal Nasser had responded to an Anglo-French seizure of the canal by sinking all 40 ships in it. The...

Speaking of TARP

Posted on April 23, 2009
The Government's Troubled Assets Relief Program has now grown to about $3 trillion--about the size of last year's entire federal budget, according to the quarterly report to Congress made by its Special Inspector General (SIGTARP). Other highlights of the report:...

Government endorses pre-dispute employee waivers . . . at least sometimes

Posted on April 23, 2009
Contract law types are aware that employers are more and more using the idea of contractual waivers as a way of getting employees to surrender rights, often in advance of any accrual of the actual right. Well, what's good for...

Today in history: April 23

Posted on April 23, 2009
On this date in 1791, lawyer and politician James Buchanan was born in a log cabin in Mercersburg, Pennsylvania. Buchanan went on to become one of the most experienced men ever to hold the office of President of the United...

Consumer exploitation, nonprofit division

Posted on April 22, 2009
You may have missed a New York Times story a couple of days ago about one of the most oppressed classes of debtors in the country: students who borrowed for their educations. While TV and radio commercials offering to help...

Today in history: April 22

Posted on April 22, 2009
On this date in 1864, the United States Congress passes the Coinage Act. It authorizes the creation of a new 2-cent coin (left), on which Secretary of the Treasury Salmon P. Chase decides to put the words "In God We...

Signs of the [New York] Times

Posted on April 22, 2009
The latest group of money-grubbing executives clinging to their perks while laying off employees and asking union workers for concessions turns out to be the top dogs at the New York Times. CEO Janet Robinson earned $5,578,451, a nice 35...

Business Associations Limerick of the Week: Paramount Communications v. QVC Network, Inc.

Posted on April 21, 2009
Paramount v. QVC is a lot like Paramount v. Time, and the decisions are entirely consistent: Paramount always loses. Beyond that, it is hard to say what principles are operative here. In this case, Paramount was trying to protect a...

Father offers to sell child star of Slumlord Millionaire?

Posted on April 21, 2009
The father of Rubina Ali, child star of Slumdog Millionaire, allegedly put his daughter up for sale, offering to allow her to be adopted for about �200,000. Dad Rafiq Qureshi, who lives in one of Mumbai's worst slums and says...

How a CDS has more than one role in a bankruptcy . . .

Posted on April 21, 2009
We're all learning a good deal about credit derivative swaps (CDSs) these days. The point of the CDS, of course, is to protect parties from defaults on bonds. Turns out that this protection can have a significant effect on the...

Today in history: April 21

Posted on April 21, 2009
On this date in 753 B.C., twin brothers Romulus and Remus found a new town on Italy's Tiber which, after a fight in which Romulus kills his brother, is called "Rome." Remus had apparently preferred "Reme" as the town's name....

Today in history: April 20

Posted on April 20, 2009
On this date in 1871, Congress passes the Civil Rights Act of 1871 at the urging of President U.S. Grant. The measure, originally aimed at suppressing the Ku Klux Klan in the South, will eventually come to be codified as...

Weekly Top Ten

Posted on April 20, 2009
Most of the top papers stay the same this week, with only one new paper cracking our Top 10. Following are the ten most-downloaded new papers from the SSRN Journal of Contract and Commercial Law for the 60 days ending...

Auction house reneges on sale guarantee after market drops

Posted on April 20, 2009
Christie?s is being sued by the consignor of a painting (left) by Francis Bacon (the other Francis Bacon, not the English lawyer who was Sir Edward Coke's rival in love and politics) after the international auction house allegedly reneged on...

Rescinding offers of at-will employment

Posted on April 20, 2009
Over at the Volokh Conspiracy, David Post wonders whether law firms who renege on their at-will employment agreements with new associates are nevertheless liable for damages: X offers (in September, 2008) to hire me beginning in September 2009, and I...

Banks struggle to get away from "TARP-baby"

Posted on April 20, 2009
Banks who want to pay back their TARP loans won?t be allowed to do so unless it?s in the "national interest," reports the Financial Times. Solvent banks want to repay the TARP funds pressed on them during the Bush Administration...

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