Category Archives: Remedies

Daniel Kelly, ‘Remedies for Breach of Trust’

Abstract: Private and charitable trusts hold trillions of dollars in assets. Trustees manage, invest, and distribute these assets, subject to fiduciary duties, such as the duty of loyalty and prudence. But remedies for breach of trust, and their justifications, are convoluted. The conventional view, especially in law and economics, is to characterize most fiduciary relationships, […]

James Spindler, ‘Vicarious Liability for Managerial Myopia’

Abstract: This paper shows that fines on the firm (vicarious liability) can optimally deter misreporting by the firm’s manager. In a principal-agent model, shareholders choose whether to award equity compensation to a myopic (short-termist) manager. Equity induces effort and misreporting. The wedge between managerial and shareholders’ time horizons provides a measure of agency costs; more-myopic […]

‘In Search of the Missing Plaintiff’

David M Engel, The Myth of the Litigious Society: Why We Don’t Sue (2016). David Engel’s recent book, The Myth of the Litigious Society, has its roots in a piece published over two decades ago, by UCLA’s Richard Abel. In that piece, Abel challenged conventional wisdom by declaring that the ‘real tort crisis’ is an […]

Carter, Courtney and Tolhurst, ‘An Assimilated Approach To Discharge For Breach Of Contract By Delay’

Abstract: The conflict between common law and equity on the question of when time should be regarded as being ‘of the essence’ for the performance of a contract has often been debated, as has the impact of its resolution by the Judicature reforms in favour of equity’s more relaxed approach. Even so, it is tolerably […]

‘Empowering Consumers Through Global Redress Systems’

“Consumers continually make small-dollar purchases through business-to-consumer (‘B2C’) Internet contracts, often across borders and usually without incident. Occasionally, however, the goods and services that consumers purchase do not arrive or fulfill their expectations. When this happens, consumers often lack information about their rights and do not know where to turn for assistance regarding their purchase […]

John Rappaport, ‘How Private Insurers Regulate Public Police’

Abstract: A string of deadly police-citizen encounters, made public on an unprecedented scale, has thrust American policing into the crucible of political conflict. New social movements have taken to the streets, while legislators have introduced a wide array of reform proposals. Optimism is elusive, however, as the police are notoriously resistant to change. Yet one […]

‘Calculating Damages in an Uncertain World’

Tun-Jen Chiang, The Information-Forcing Dilemma in Damages Law (Washington University in St Louis Legal Studies Research Paper No 16-08-03, 2016), available at SSRN. There is a rule in the world of remedies that has always struck me as unfair. The rule, generally speaking, is that damages are not available unless they can be proven with […]

Just Published: Degeling and Varuhas (eds), Equitable Compensation and Disgorgement of Profit

This collection of essays interrogates significant issues at the forefront of scholarship and legal practice in the field of money remedies in equity. Chapters address the contentious and developing field of equitable compensation, including: the nature of equitable compensation; the relevant causation inquiry for equitable compensation; whether notions of contribution apply to multiple agents; accessorial […]

‘Erie and Equity’

Michael T Morley, The Federal Equity Power (March 1, 2017), available at SSRN. Michael Morley has many skills we admire in a scholar: he is doggedly productive; he has an easy command of the established authorities; and he typically identifies sources that shed new light on the problem he has chosen to tackle. Perhaps best […]

Scott Harrington, ‘Economic Perspectives on the Restatement of the Law on Liability Insurance Project’

Abstract: This paper provides perspectives on the Restatement of the Law, Liability Insurance (RLLI) project in view of theory and evidence on the economics of liability insurance and the operation and regulation of liability insurance markets. The RLLI project reflects prodigious effort by the Reporters over six years, and many revisions in response to feedback […]