Property devaluation caused by fear of electromagnetic fields: using damages to encourage utilities to act efficiently

Article Abstract:

Requiring electric utilities to compensate homeowners for devaluation caused by the uncertain health risks posed by electromagnetic fields emitted by power lines does not encourage the utilities to resolve the uncertainty. Since utilities are subject to rate regulation, the additional compensation attributable to public fear and uncertainty is simply passed on to consumers in rate increases. State utility commissions need to resolve this uncertainty themselves or deny rate increases to utilities to encourage them to determine the most cost-effective means of resolving the uncertainty.

Cases, Electric utilities, Remedies, Electromagnetic fields, Rate regulation, Eminent domain (Law)

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Unlocking lock-in: limited liability companies and the key to underutilization of close corporation statutes

Article Abstract:

Most closely held corporations operate under the same laws that govern publicly held corporations despite inefficiencies that result, but the rise of the limited liability company form may offer a solution to the lock-in problem. Close corporation statutes have lured few qualifying corporations away from general corporate laws, which may require shareholder protections unnecessary in the close context. The tax incentives of limited liability company status may provide the impetus that can overcome the inertia that has resulted in overuse of public corporation law.

Interpretation and construction, Laws, regulations and rules, Limited liability companies, Corporation law, Close corporations, Closely held corporations, Delaware

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Property rules and liability rules: the cathedral in another light

Article Abstract:

Law and economics scholars have developed theories regarding tort damages based on economic principles, but the theoretical level of such scholarship calls into question its relevance in the actual exercise of the law. The work of Ronald Coase on transaction costs has been the basis for much thought on property rules and liability rules. Most judicial decision-making and much academic work that has attempted to use these theories has failed to demonstrate an adequate understanding of the implications of economics for law.

United States, Analysis, Real estate, Criticism and interpretation, Real property, Damages, Damages (Law), Liability (Law), Legal liability, Law and economics, Law and economics (Jurisprudence), Coase theorem

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