Benjamin Cardozo's 1928 opinion in Meinhard v. Salmon that co-venturers owe each other "the punctilio of an honor the most sensitive" remains, 80 years later, a defining point for framing the discussion of fiduciary duty, still the most important issue in the law of business associations. This...

The defining issue of corporate law is the intensity of judicial review of director actions. Over the last four decades, Delaware has developed an elaborate array of judicial standards and defined (and then rearranged) the process by which such litigation plays out. This piece explores that...

This paper studies three scandals that embroiled U.S. financial markets during the past decade, including the Nasdaq market-makers' use only of odd-eighths quotes, the abuse of specialist power on the New York Stock Exchange, and the mutual fund scandal. We attempt to attribute the resolution of...