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The $900 Million Back Office Error - Credit Slips


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posted by Mitu Gulati
I love this story a bank erroneously sends money to a bunch of lenders who are angry with the bank and the debtor for other reasons. The bank discovers the computer error and asks for its money back. The angry lenders refuse to give back what was clearly an erroneous deposit. There is litigation. And the court says to the lenders who received the erroneous deposit: You can keep the money.  
I remember telling my students in Contracts about it when the news was first reported, and the matter had not been to court yet. I told them that this was an easy case and that the lenders would have to give the money back.  If memory serves, I told them something along the lines of: If a bank erroneously deposits money in your account, you don t get to keep it. You have to give back what is not yours. Finders are not automatically keepers. I was wrong, to put it mildly. ....

United States , Jesse Furman , Capital Markets Law Journal , Judge Furman , Cash America , ஒன்றுபட்டது மாநிலங்களில் , ஜெஸ்ஸி ஃபர்மேன் , மூலதனம் சந்தைகள் சட்டம் இதழ் , நீதிபதி ஃபர்மேன் , பணம் அமெரிக்கா ,

The New Thing in Contract Research - The Contract Production Process


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posted by Mitu Gulati
Cathy Hwang and Matt Jennejohn, two of the brightest young stars of the contract world, just put up a paper summarizing their view of one of the exciting new directions that contract research is taking. They describe it as the study of contractual complexity ( The New Research on Contractual Complexity , is their title). But I don t like the term contractual complexity at all, since I simply cannot take seriously the idea that anything that lawyers do is all that complex.  Convoluted, confused and obscure, yes.  But complex? Hell no.  What I see their wonderful paper as being about is the new research on the production of contracts.  As they point out, it all starts from the foundations laid in a set of important papers by the brilliant Barak Richman.  Barak has long been puzzled as to why contrac ....

Michelle Boardman , Dave Hoffman , Mark Weidemaier , Jeff Manns , Rob Anderson , Julian Nyarko , Matt Jennejohn , Anna Gelpern , Tess Wilkinson Ryan , Cathy Hwang , Adam Badawi , John Coyle , Barak Richman , Research On Contractual Complexity , New Research , Elisabeth De Fontenay , Capital Markets Law Journal , மைக்கேல் போர்டுமேன் , டேவ் ஹாஃப்மேன் , ஜெஃப் மன்னஸ் , கொள்ளை ஆண்டர்சன் , ஜூலியன் ஞற்கோ , டெஸ் வில்கின்சன் ரியான் , கேத்தி ஹ்வ்யாஂக் , ஆடம் ப்யாடாவி , ஜான் கோய்ல் ,