An article from McGill Law Journal / Revue de droit de McGill, on Érudit.
The Fiduciary Obligation
ROBERT FLANNIGAN; The Fiduciary Obligation, Oxford Journal of Legal Studies, Volume 9, Issue 3, 1 October 1989, Pages 285–322, https://doi.org/10.1093/ojls
The Critical Resource Theory of Fiduciary Duty
This Article proposes a new theory to unify the law of fiduciary duty. The prevailing view holds that fiduciary law is atomistic, arising for varied reasons in
Chapter Eight—Technology and the Law: The Automobile · University of Wisconsin Law School Digital Repository · University of Wisconsin Law School Digital Repository
University of Wisconsin Law School Law Library 975 Bascom Mall Madison, WI 53706 608-262-3394
Adequate indigent defense should be a top priority
This past weekend, I published a story for The Commonwealth assessing Mississippi’s 23 circuit court districts’ indigent defense plans — that is how each of those courts provides lawyers to indigent, or poor, criminal defendants charged with a felony who can’t afford their own counsel.
Consumption, Debt, and Portfolio Choice: Testing the Effects of Bankruptcy Law
In the United States, consumer bankruptcy (Chapter 7 and Chapter 13) is designed to provide debtors a fresh start. Broadly speaking, after a household successfully files a bankruptcy petition, its unsecured debts are erased, but it must forfeit any assets above an exemption level determined by law. Laws regulating bankruptcy are a complex mix of state and federal rules. While the specific legal details are beyond the scope of this essay, in general, state laws set the exemption levels above which households forfeit assets; these range from exemptions as low as $75 to more than $100,000 (or, indeed, potentially unlimited levels).1
Reconsidering Baron and Kenny: Myths and Truths about Mediation Analysis
Abstract. Baron and Kenny’s procedure for determining if an independent variable affects a dependent variable through some mediator is so well known that i
Meet the Author: Alicia Solow-Niederman
Alicia Solow-NiedermanAssociate Professor of LawGeorge Washington University Law School
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Public Benefit Limited Liability Company: The New Entity on the Block
A public benefit LLC has additional requirements to be transparent, accountable and uphold its public benefit purpose while maintaining fiduciary duties.
When Does Worker Ownership Work? ESOPs, Law Firms, Codetermination, and Economic Democracy
Price and Sovereignty Harvard Law Review
[W]e must not overlook the actual fact that dominion over things is also imperium over our fellow human beings. — Professor Morris R. Cohen,...
Tax and the Law of Market Cycles
<p>The signature development in financial regulation over the past two decades has been the macroprudential turn: the recognition that healthy financial conditi
Radical Skepticism About Information Fiduciaries
Khan and Pozen are right to note the fundamental conflict between “information fiduciary” duties and shareholder interests. I only wish to add two further points in service of a radical skepticism towards the information fiduciary concept.
Role Integration Increases the Fungibility of Mentally Accounted Funds
Bridging the gap between the mental accounting and identities/roles literatures, the present research examines how the extent to which an individual's life roles (e.g., “employee,” “spouse”) are integrated (i.e., have more flexible and permeable psychological boundaries between them) moderates the fungibility of mentally accounted funds. Specifically, individuals with more integrated roles are more able to circumvent the constraints typically imposed by mental budgeting and earmarking; therefore, they are more likely to use funds that are allocated or budgeted for the purposes of one role to service the needs/wants of another role. This holds regardless of whether funds have been (1) allocated to a broader role-specific mental account for future expenditures or (2) earmarked for a specific purchase. The authors find evidence that the effect of role integration arises because those with more integrated roles believe that making purchases for one role using funds allocated or budgeted for the other role is more justifiable.
The Effects of Prior Spending on Future Spending Decisions: The Role of Acquisition Liabilities and Payments
Research in mental accounting shows that prior spending influences a consumer's decision to make a new spending decision (Heath and Soll 1996, Soman 2001). In particular, greater spending in a particular category reduces the likelihood of further spending in that category. In the present research, we decompose “spending” into two distinct episodes—the acquisition liability episode during which a purchase is made accompanied by a commitment to pay (e.g., using a credit card) and the payment episode during which the consumer's wealth actually gets depleted (e.g., paying the credit card bill). Using a controlled laboratory experiment and real world data from a group of consumers, we replicate earlier findings that prior spending influences a pending spending decision, but also show that the location of both the acquisition liability episode and the payment episode play a role. Our results contribute to an understanding of the dynamic mental accounting of acquisition liability and actual outflows.
