Tort and contract, although both descended from a common ancestor in the forms of action at common law, are generally regarded as distinct species of civil liability. A tort is an act or omission that is marked by fault - either intention or negligence. There are also a few strict liability...

In June 2001, Nevada changed its state corporate law by substantially reducing the legal liability of directors and officers for breaching fiduciary duties owed to the corporation. We examine the impact of the reduced litigation risk caused by this legislative change on Nevada-incorporated...

This preliminary study examines whether the presence or absence of certain terms in a company's form contracts can reveal its level of litigation risk. First, I estimate the risk of independent contractor misclassification litigation for service-based “sharing economy” businesses by...

Long-term minimum return guarantees sold by European life insurers increasingly become binding as interest rates decline. While participating contracts embedding these guarantees are designed to share market risk across investor cohorts when guarantees are not binding, we study how binding...