The European Union is exploring a move toward harmonization in the form of a common commercial code (CESL), with some mandatory provisions especially with respect to consumer law, but alsoincorporating a large dose of business-to-business law that would be optional at the enterprise, rather than jurisdictional, level.
The bad news about our stalled economy is distressing on two fronts. The unemployment rate recently crept back up to 8.1 percent and the stock market lost all its gain for 2012. The second reason concerns the long-term soundness of our institutions.
This discussion between Professor of Law M. Todd Henderson and Richard L. Sandor, (CEO, Environmental Financial Products, LLC, and Lecturer in Law at the University of Chicago Law School) was sponsored by the Law School and Chicago Booth School of Business and was recorded on April 17, 2012.
A popular type of consumer transaction is called "No Contract." Businesses lure consumers with the "no contract" assurance - a promise that consumer can walk away anytime, without any commitment. This scheme is increasingly common in cable and phone services, health clubs, security services, and other transactions that used to require minimum duration. What is a “No Contract” contract?
As the economies of both the United States and the European Union sputter along, political leaders continue to put forward the false choice between austerity and growth, without attending to the serious structural issues that have long plagued both of these major economies.