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  • Contract Hazards

    Lawyers and Their Landmines

    In today's global markets, commercial contracts are the backbone of complex financial and corporate transactions. Yet despite their centrality, these documents are often riddled with flaws-ambiguous terms, outdated provisions, and strategic traps-that persist across deals and markets. Legal theory tends to overlook these imperfections, assuming contracts are coherent, intentional, and complete. ... Read more

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  • The Three and a Half Minute Transaction

    Boilerplate and the Limits of Contract Design

    Series series Chicago Series in Law and Society
    Boilerplate language in contracts tends to stick around long after its origins and purpose have been forgotten. Usually there are no serious repercussions, but sometimes it can cause unexpected problems. Such was the case with the obscure pari passu clause in cross-border sovereign debt contracts, until a novel judicial interpretation rattled international finance by forcing a defaulting sovereign ... Read more

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  • Acting White?

    Rethinking Race in "Post-Racial" America

    What does it mean to "act black" or "act white"? Is race merely a matter of phenotype, or does it come from the inflection of a person's speech, the clothes in her closet, how she chooses to spend her time and with whom she chooses to spend it? What does it mean to be "really" black, and who gets to make that judgment? In Acting White?, leading scholars of race and the law Devon Carbado and Mitu ... Read more

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