A company is valuable to stockholders for the same reason that a bond is valuable to bondholders: the theory of investment are expected to generate cash for years into the future. Purists would say that a company is worth the present value of its future free cash flows rather than its earnings.
Consequentialist doctrines have often been criticized for their excessive demandingness, in that they require the thorough instrumentalization of each person’s life as a vehicle for the production of good consequences. In turn, the proponents of such doctrines have often objected to what they perceive as the irrationality of the demandingness of deontological duties. This chapter, written for the forthcoming monograph A History of Intellectual Property in 50 Objects, discusses the scientific, technological, and social context of Samuel F. Morse’s invention of the telegraph in the 1830s in New York City.
Kemp closed the door on social science’s ability to meaningfully contribute to equal protection deliberations. From the Panama Papers to the Paradise Papers, massive document leaks in recent years have exposed trillions of dollars hidden in small offshore jurisdictions. Attracting foreign capital with low tax rates and environments of secrecy, a growing number of offshore jurisdictions have emerged as major financial havens hosting thousands of hedge funds, trusts, banks, and insurance companies. Article uncovers how offshore jurisdictions enable corporations to evade domestic regulatory law.
Supreme Court cases restricting the geographic scope of federal statutes have created a space for commercial actors to circumvent regulation by incorporating in offshore jurisdictions. Professor Cassidy examines the criminal justice reform movement in the United States through the lens of Catholic social thought. In particular, he focuses on God’s gift of redemption and the Gospels’ directives that we love one another and show mercy toward the poor, the oppressed and the imprisoned. When the majority of modern contract and consumer protection laws were written in the 1950s, 60s, and 70s, consumers almost always acted as buyers, and businesses almost always acted as sellers. As a result, these laws reflect a model of strong sellers and weak buyers. Advances in technology and constraints on consumers’ financial lives have pushed consumers into new roles. This Chapter uses corporate law as a case study to evaluate the content of the fiduciary duty of good faith.
Tracing its development from Van Gorkom through to the present, the Chapter shows how good faith, though part of the duty of loyalty, has become a gap-filler, policing the space between generally-exculpated breaches of care and the more obvious breaches of loyalty. Keynote Address by Professor Henry Smith, Harvard Law School. The Private Law Junior Scholars Conference is a collaboration between the law faculties of the University of Toronto and Tel Aviv University. This year’s Private Law Junior Scholars Conference will assess the possible public aspects of private law. Is there a strict divide between private law and public law, and if so where should the line be drawn? Could the contours of private law be delineated separately from other fields of law?