Businesses and sophisticated parties have long used “contract exchanges,” like the Chicago Board of Trade, to obtain a fair price and protect themselves from market volatility. These contract exchanges have greatly benefitted both their participants and the public at large, but participation...

Juries attract both stiff criticism and unqualified praise. Here, we examine how the American juries actually behave in tort cases, based on archival research, post-trial interviews with jurors, experiments with real and simulated juries, observations of real jury deliberations, and surveys of...

The purpose of this Essay is to analyze the treatment and the types of tort and strict liability claims that courts are likely to redirect toward the Code's Article 2 remedies. This Essay examines the typical application of the economic loss doctrine, including the bargain policy underlying the...

This Article observes that there is not a clear consensus among courts in how to describe the scope and nature of a breach of the peace when a lender elects self-help repossession and things go awry. That does not mean that courts have not deduced some guideposts that parties can use in deciding...

This article argues that punitive, nominal, contemptuous, vindicatory, and disgorgement damages (commonly referred to as non-compensatory damages) can be collectively analysed as public interest damages because all these awards are justified by violations of public interests in addition to...

This note critically comments on the Court of Appeal's decision in OMV Petrom SA v Glencore International AG. By introducing a penal element to the enhanced interest rate pursuant to CPR Pt 36, the Court of Appeal has extended the justificatory reasons for those awards beyond compensation. This...

In liability lawsuits (e.g. patent infringement) a plaintiff demands compensation from a defendant and the parties often negotiate a settlement to avoid a costly trial. Liability insurance creates bargaining leverage for the defendant in this settlement negotiation. We study the characteristics...

Congress could mitigate the problem of lesbian, gay, bisexual, and transgender (LGBT) student bullying by requiring that teachers and school officials report all bullying incidents to their school district administrators. Many school districts are not aware of the prevalence of LGBT bullying and...

Commonwealth jurisdictions face a unique risk when English authorities are misunderstood or misapplied by local courts: erroneous legal rules can quickly become entrenched in the local laws, which are difficult to undo. The Malaysian jurisprudence in relation to the liability of third parties...

This Article provides a financial economic analysis of punitive damages. The core problem, as the Supreme Court acknowledged in Exxon Shipping Co. v. Baker, is not the systemic amount of punitive damages in the tort system; rather, it is the risk of outlier outcomes. Low frequency, high severity...