The rapid rise of cryptocurrencies over the last twenty years has interjected havoc into the staid field of commercial law, one long regulated by the Uniform Commercial Code (“U.C.C.” or “UCC”). Naturally, many individuals and organizations started to count their stash of...

Economic analysis suggests that the hesitation to contractualize marriage creates a number of inefficiencies. This paper discusses these inefficiencies and then proposes an economic reconceptualization of Continental marriage law. By bringing in more contract into the statutes regulating...

We study jury trial waivers in a data set of 2,816 contracts contained as exhibits in Form 8-K filings by reporting corporations during 2002. Because these contracts are associated with events deemed material to the financial condition of SEC-reporting firms, they likely are carefully negotiated...

Can a payment in satisfaction of an antecedent debt be both a preference under section 239 of the UK Insolvency Act 1986 and therefore a transaction at an undervalue pursuant to section 238 of the UK Insolvency Act 1986?Describing it as an interesting question of law on which there was no direct...

The court in Re Ballast [2006] EWHC 3189 (Ch) rejected the proposition that an insurer via subrogation has a proprietary interest in the insured's cause of action, but its reasoning is strewn with confusion and fails to appreciate the impact of insolvency set-off on the principle of...

This article is part of a symposium on the work of Gordon Tullock, to be held in connection with the presentation to Tullock of the Lifetime Achievement Award of the Fund for the Study of Spontaneous Orders at the Atlas Research Foundation, for his contributions to the study of spontaneous...

An offeror initiates negotiations to acquire a target company. The parties sign an exclusivity agreement, restricting them from dealing with third parties for a specified period of time. They execute a term sheet, laying out the principle terms of the contemplated definitive agreement, yet...

A debt subordination may in general take two forms, viz., contractual subordination and turnover subordination. A contractual subordination occurs where, by agreement between a debtor and a creditor, debts owed to the creditor are to rank below other debts of the debtor. A turnover subordination...