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and deters parties from settling disputes out of court. In contrast, the law is certain ex post: litigation fosters the … of a legal system (kept under control by litigation) and its litigation rate (sustained by uncertainty). We describe such … equilibrium rates in a model of tort litigation, study how they are affected by different policies, and compare the costs and …
Persistent link: https://www.econbiz.de/10011349216
The appellate review system is intended to serve as an efficient remedy for imperfect judicial decision making. However, it can fulfill this task only when appeals are filed solely due to bad verdicts and are ex-ante unpredictable based on factors that are exogenous to the judge. Using data from...
Persistent link: https://www.econbiz.de/10010489300
We may sharpen our understanding of legislation by juxtaposing it with other types of legal act. John Gardner attempts … to differentiate legislation from legal rulings - an unusual juxtaposition in itself - and his claims about the … distinction, and in so doing seek to clarify what legislation is by what it is not …
Persistent link: https://www.econbiz.de/10013289185
Legislative drafting mistakes can upset statutory schemes. The Affordable Care Act was nearly undone by such mistakes. The recent Tax Cuts and Jobs Act is rife with them. Traditional legal scholarship has examined whether courts should help resolve Congress's mistakes. But courts have remained...
Persistent link: https://www.econbiz.de/10012863512
confine their legislation to the narrowest limits in the closest of cases. To the extent that my argument is successful in … diminishing the judicial legislation position, it would tend to serve to corroborate Dworkin’s rights thesis …
Persistent link: https://www.econbiz.de/10014189173
This article questions the nature and character of the amendments the Lisbon Treaty makes to the EU's legislative procedures. Do these changes make for real legislature? If we want to know that, the first question to be addressed is: what actually make for a real legislature? What are the...
Persistent link: https://www.econbiz.de/10014210320
A general principle of legal ethics is that a law firm may not represent a client suing someone who is also a client of the law firm (1) even though the two matters are unrelated, (2) a different law firm represents the client in that law suit, and (3) there is no risk that the lawyer would...
Persistent link: https://www.econbiz.de/10013128795
Before Caperton v. A.T. Massey Coal Co., 129 S. Ct. 2252, 2266 (2009). due process mandated judicial disqualification in two basic situations: first, when the judge had a direct, personal, and substantial pecuniary interest in the case, or second, when the judge acted as judge, jury, prosecutor,...
Persistent link: https://www.econbiz.de/10013131236
transactions. Serving as a case study is the Lehman/Perpetual Trustee litigation …
Persistent link: https://www.econbiz.de/10013138277
Since the global financial crisis of 2007, regulators and economists have analysed the moral hazards inherent in institutional arrangements which encouraged economic actors to act irresponsibly. The process of institutional reform must extend to review of legal rules which allow transacting...
Persistent link: https://www.econbiz.de/10013138363