Courts, contracts, and the appropriate discount rate: a quick fix for the legal lottery

Article Abstract:

Courts should replace the discretionary rule for determining the discount rate that is applied to lost future profits awards in breach-of-contract cases with a fixed-rate rule that uses a rate such as the medium grade corporate bond rate. Individualized discount rate inquiries result in uncertainty for business litigants. Cost-benefit analysis suggests that the savings provided by reduced uncertainty, expert testimony and legal fees will far outweigh any possible costs incurred by using a fixed-market rate.

Remedies, Contracts, Discount rates, Lost profits damages

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Legal regulation of employment reference practices

Article Abstract:

A market analysis of problems involving lack of employer disclosure in references reveals that legislative reform is not likely to solve these problems. Lack of information from former employers creates mismatching, churning, and scarring in employee selection, but neither the imposing of a duty to disclose or subsidies/penalties will eliminate these problems. Current defamation law and market corrective mechanisms continue to work best to resolve employment reference difficulties.

Libel and slander, Employment references

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The market for lawyers

Article Abstract:

There are not too many lawyers for the demand of the market. The supply is elastic, and a star hierarchy develops wherein a minority earn great wealth while the rest do well enough. A demographic study of lawyers from Current Population Surveys from 1967 to 1987 allows comparison of income to other occupations, income distribution within the field of law and the labor market.

Supply and demand, Attorneys, Lawyers, Employment

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