1

THE BUSINESS &

SOCIETY

PROGRAM

LAW, BUSINESS & SOCIETY

SOIM-UB.006

Sections 01 and 02

Fall 2018

Professor Jeanne Calderon

jcaldero@stern.nyu.edu

KMC Room 7-94

Office Hours: Monday 12:45 pm to 3:00 pm; and

Wednesday 12:45 pm to 1:30 pm

COURSE INFORMATION

Meeting Times & Location – both sections meet on Monday and Wednesday in

UC15

Sect. 01 – 9:30 am to 10:45 am

Sect. 02 – 11:00 am to 12:15 pm

Teaching Assistants – NYU Law students

Arden Ham arden.ham@nyu.edu

Mike Rusie mr3766@nyu.edu

TA office hours will be posted on NYU Classes

Administrative Assistants

Skye Weis sweis@stern.nyu.edu

Meghan White mwhite@stern.nyu.edu

COURSE DESCRIPTION

Every professional business individual must be aware of how legal systems work and

affect the interaction of business, society and individuals.

Learning objectives:

To promote and engage in a dialogue about the relationship between law, business

and society

To consider how laws may reflect societal norms, promote well-being and express

economic conditions and assumptions

To examine legal situations and dilemmas from the perspective of multiple

stakeholders, and to understand the ambiguity in predicting how the law will

apply

These themes are developed through a special set of readings specifically drafted for this

course by NYU Stern faculty. Course readings draw upon judicial decisions, statutes,

scholarly works and multimedia. Students are expected to come to class having read the

assigned reading and reflected upon their meaning. Preparation for class and participation

in class are critical components of this course.

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Class sessions will include a variety of participatory activities that will foster analytical

thinking and discussion, as well as oral and written presentation skills. These activities

are designed to promote a reflective dialogue about course themes.

ACADEMIC INTEGRITY

Integrity is critical to the learning process and to all that we do here at NYU Stern. As

members of our community, all students agree to abide by the NYU Stern Code of

Conduct, which includes a commitment to

Exercise integrity in all aspects of one's academic work including, but not limited

to, the preparation and completion of exams, papers and all other course

requirements.

Clearly acknowledge the work and efforts of others when submitting written work

as one’s own. Ideas, data, direct quotations (should be designated with quotation

marks), paraphrasing, creative expression, or any other incorporation of the work

of others should be fully referenced.

The full NYU Stern Code of Conduct is set forth in this link:

http://www.stern.nyu.edu/cons/groups/content/documents/webasset/con_039512.pdf

TURNITIN

All students are required to submit their papers using the Assignments tab on NYU

Classes. Integrated within NYU Classes is Turnitin, a plagiarism detection software

program that enables faculty to compare the content of submitted assignments to data on

the Internet, commercial databases, and previous student papers submitted to the system –

including papers submitted by your Stern peers.

NYU STERN GRADING POLICIES: STERN CORE COURSES At NYU Stern, we strive to create courses that challenge students intellectually and that

meet the Stern standards of academic excellence. To ensure fairness and clarity of

grading the Stern faculty have adopted a grading guideline for core courses with

enrollments of more than 25 students in which approximately 35% of students will

receive an “A” or “A-“grade. In core classes of less than 25 students, the instructor may

give whatever grades they think students deserve, while maintaining rigorous academic

standards.

http://www.stern.nyu.edu/portal-partners/current-students/undergraduate/resources-

policies/academic-policies/index.htm

GRADING & EVALUATION

Class Participation & Homework Assignments 20%

2 Individual Papers 40% (20% each)

US Supreme Court Debate 20%

Final Examination 20%

Individual Papers

Students will complete two papers (each approximately 5 pages long), analyzing legal

issues that relate to the intersection of law, business and society; and requiring critical

thinking about those issues.

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Group Work Assignment: U.S. Supreme Court Debate

Students will work in pre-assigned groups to debate legal issues currently pending before

the U.S. Supreme Court. Students will present their group’s legal position as either

petitioner or respondent. Debate preparation will take place towards the end of the

semester. The debates will be held during the last week of class. The group debate report

will be submitted several days after the debates are held in class.

Final Examination

The Final Exam will be based upon the legal cases and concepts that will be discussed in

class and contained in the course readings. The Final Exam will consist of multiple

choice, true/false and/or fill in the blank type questions. The Final Exam will be

cumulative. I will provide additional information about the Final Exam as the semester

progresses.

Homework and Class Participation

For most classes there will be a written homework assignment. Written homework

assignments will be “checked” in by your teaching assistant. If a significant number of

homework assignments are missed or poorly executed, then a student’s overall

homework/class participation grade will be lowered. The class participation criteria are

set forth below.

Written Homework Instructions

Each student will prepare a written “case brief” for each of the cases in the

assigned course module.

Post your “case brief” on NYU Classes as one Word file on or before the start

time of each class session (unless other instructions are provided).

Bring a hard copy to class for participation and note taking purposes. You do not

need to submit the hard copy to me (unless I request you to do so).

Use your own words in this case brief. Do not use quotes from the cases.

Case Brief Format: you should aim for a 1 page case brief

Name of the Case

Legal Question before the court

Reasoning of the court

Precedent created by the court ruling - do not just state “reversed lower court”,

etc. – instead, you should state the new rule of law that will be followed in future

similar cases

Dissenting or Concurring Opinion(s) – if provided – explain the main reasons

for the judge’s dissent or concurrence

In class, I will introduce you to the IRAC method of legal analysis to assist you when

reading judicial decisions and preparing the case briefs.

Classroom Participation Criteria

A/A- Student comes to class prepared; contributes readily to the conversation but does

not dominate it; makes thoughtful contributions based on the assigned readings; and

demonstrates an excellent understanding of the course readings.

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B+ Student comes to class prepared; makes thoughtful comments when called upon;

contributes occasionally without prompting; and demonstrates a very good understanding

of the course readings.

B Student comes to class prepared, but does not voluntarily contribute to discussions and

gives only minimal answers when called upon. Student shows interest in the discussion,

listening attentively and taking notes.

B- & below Student comes to class unprepared, frequently misses class sessions, and

demonstrates a lack of knowledge of the course readings when called upon in class.

Attendance

I will take attendance in every class session. I will use a seating chart that contains your

photos on it. This seating chart will be posted on NYU Classes for all of you to view.

A significant number of “unexcused” absences from class will lower a student’s overall

grade for the course.

NYU STERN IN-CLASS BEHAVIOR & EXPECTATIONS Students are expected to maintain and abide by the highest standards of professional

conduct and behavior.

Please familiarize yourself with Stern's Policy in Regard to In-Class Behavior &

Expectations

http://www.stern.nyu.edu/portal-partners/current-students/undergraduate/resources-

policies/academic-policies/index.htm

And NYU’s policy on Bullying, Threatening and Other Disruptive Behavior Guidelines

http://www.nyu.edu/about/policies-guidelines-compliance/policies-and-

guidelines/bullying--threatening--and-other-disruptive-behavior-guidelines.html

STUDENTS WITH DISABILITIES

Students whose class performance may be affected due to a disability should notify me

immediately so that arrangements can be made in consultation with the Henry and Lucy

Moses Center for Students with Disabilities. For more information please visit

http://www.nyu.edu/csd/.

COURSE POLICIES

As stated above, attendance is required and will be a factor in your final grade for the

course. Absences will be excused only in the case of documented serious illness, family

emergency, religious observance, or civic obligation. If you will miss class for any of

these reasons you must inform me in advance. Stern policy does not recognize recruiting

activities as acceptable reasons for absence from class.

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Students must arrive to class on time and stay to the end of the class period. Students may

enter class late or leave class early only if I have given permission, and if it can be done

without disrupting the class.

Late submission of assignments will either not be accepted or will incur a grade penalty

unless the lateness is due to a documented serious illness, family emergency, religious

observance or civic obligation. If the assignment cannot be completed by the due date,

arrangements for late submission should be made with me in advance of the due date.

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COURSE SCHEDULE & ASSIGNMENTS

All course materials are located on NYU Classes under Resources. Note that this Syllabus is

loosely based on the Syllabus used in most of the other LBS sections. I may change the

order of topics, choose additional or alternative readings for certain class sessions and

possibly make other changes. I will inform you of all schedule and/or assignment changes

in the classroom or in a posting on the NYU Classes course site and/or in an email message.

Thus you should not blindly rely on this course outline. I am providing it to you now to give

you some sense of the material we will cover in this course.

Also, note that we will NOT meet on Wednesday, September 19th. I will inform you when a

make-up class session will be held.

SEPTEMBER 5

MODULE #1: INTRODUCTION – WHY IS THE COURSE ENTITLED “LAW,”

“BUSINESS,” & “SOCIETY”?

- What is the purpose of law?

- How did laws arise?

- Is the law the same as justice?

- Can we think of business as collective action - cooperative activity between people

consisting of trade and exchange?

- Can we think of society as collective action – cooperation among people that improves

material well being? Other kinds of well being?

- How does law enable this collective action and cooperation?

READ/WATCH

Humans Why They Triumphed, Ridley, 2010

Institutions, Douglas North, 1991, pp. 97-102

WRITTEN Homework (HW) – One Case Brief – due 9/5 on Classes by or before the

start of class.

Riggs v. Palmer, 1889

- An example of how a court looks at whether the purpose of law is to deliver “justice”

- Is justice co-extensive with law?

PURPOSE, FRAMEWORK & SYSTEMS

GOAL: To introduce students to course themes and consider the purposes that laws

serve in our society, especially the business sector.

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SEPTEMBER 10 & 12

MODULE #2: RULE OF LAW AND LAW’S IMPACT ON US

- What do we mean by “rule of law”?

- Does law enhance material well-being? Whose well-being? Does law sometimes

enforce the existing power structures of society and create winners and losers?

- Can law be used for social change?

- Throughout the course, consider how law: reflects or creates social norms, can be used

to effect social change; creates restrictions on private conduct; enhances market

efficiency (information asymmetry, negative externalities); protects civil society and

institutions; establishes and protects public goods (inventions); creates negative rights;

establishes positive rights, etc.

READ

Economics in the Jungle, Economics and the Rule of Law, 2008

How the Rule of Law Is Measured, Lexis/Nexis (Browse site, how does it define “rule

of law”?)

WRITTEN HW – Two Case Briefs – DUE 9/10 on Classes by or before the start of

class.

The Rebecca, 1831

Norwich Company v. Wright, 1871

WRITTEN HW – Two Study Questions – DUE 9/10 on Classes by or before the

start of class.

Respond with a maximum of 250 words per question, double-spaced:

1. Provide a definition of rule of law; consider what is the rule of law in the nation

of which you are a citizen; and describe briefly how its existence or lack of

existence impacts business.

2. In the cases Rebecca and Norwich Company v. Wright, were conditions being

created to encourage business? Who were the stakeholders in the disputes?

Which stakeholders benefited from the decisions?

SEPTEMBER 17

MODULE #3: STATUTORY AND THE COMMON LAW

- Precedent and stare decisis

- Overview of the US legal process

- Every case tells a story

- Common law v. civil law systems

- Law is fact-based, predictive but also sometimes ambiguous

READ/WATCH

Outline: Sources of Law

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Common Law and Civil Law Traditions, UC Berkley School of Law

Watch: Justice Sotomayor speak about Stare Decisis

https://www.youtube.com/watch?v=VycHKuCEATA

WRITTEN HW – Two Case Briefs - DUE 9/17 on Classes by or before the start of

class.

McBoyle v. United States, 1931

- Meaning matters

- What did the Court look to?

Digital Realty Trust, Inc. v. Somers, 2018

- Text or legislative intent?

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SEPTEMBER 19 (As stated above, this class will be held on a different date/time.)

MODULE #4: THE US CONSTITUTION, FEDERAL/STATE POWER, CHECKS

& BALANCES

- Relevant portions of the US Constitution illustrate enumerated powers of the federal

government and police powers allocated to the states.

- Tensions between federal and state systems.

- Why did the framers set up federal and state powers in this manner? Were there any

business or economic drivers? If so, what were those drivers?

- Does the Constitution contribute to social well-being or simply protect the interests of

the powerful?

READ Outlines: US Constitution: Federal, State and Individual Rights; The Commerce

Clause The Constitution of the United States – A History, US National Archives

Civil Rights Act of 1964: Enduring and Revolutionary, Schwinn, ABA

WRITTEN HW – One Case Brief DUE 9/19 on Classes by or before the start of

class.

Heart of Atlanta Motel, Inc. v. U.S., 1964

WRITTEN HW – ONE Study Question – DUE 9/19 on Classes by or before the start

of class.

Respond with a maximum of 250 words per question, double-spaced:

1. What should be the extent of Congressional power to mandate to businesses

which customers they must serve?

Paper 1 Assignment will be posted on or before September 21st.

CORE PRINCIPLES OF U.S. LAW, INCLUDING THE STATE, ITS

FUNCTIONS, CHECKS & BALANCES

GOAL: Focus more specifically on the U.S. legal system by examining the balance of

powers between the state and federal government as well as core principles of our

system. Where applicable, economic and business ideas expressed in the Constitution

and our system, will be highlighted.

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SEPTEMBER 26

MODULE #5: CRIMINAL LAW

- Distinctive features of the US legal system

- How are crimes punished in other countries?

- Why do you think that criminal law is based on statutory law rather than common law?

- Prosecutorial discretion is very broad. What is the selective enforcement problem as to

who is prosecuted?

- Mens rea: criminal intent is required, but intent may be defined differently.

- If someone harms another person, how should the criminal be punished? What is the

appropriate standard of proof and how should intent be defined?

READ

Outlines: Criminal Law, Civil Law and Criminal Law Compared, Criminal

Procedure Overview

Reflections on Some Theories of Punishment, Meyer, 1969

Could Legalizing All Drugs Solve America’s Opioid Epidemic? Fortune, Miron, 2017

I Used To Support Legalizing All Drugs, Vox, Lopez 2017

Race and The Drug War – read and watch embedded video

McBoyle v. United States, 1931 – replay

-Why does it matter what the common person would understand?

WRITTEN HW – TWO Study Questions – DUE 9/26 on Classes by or before the

start of class.

Respond with a maximum of 250 words per question, double-spaced:

1. Is there any conduct that you think is defined as criminal and should not be, or

conduct that is not defined as criminal and you think it should be? Why?

2. Should drug abuse be dealt with through the criminal justice system or otherwise?

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OCTOBER 1

MODULE #6: RIGHTS

- The US constitutional system at the federal level protects “negative” rights: the right to

have the government not interfere with what a person does.

- Many state constitutions and constitutions of other countries often grant “positive”

rights to their citizens: such as the right to receive a public education, health care, etc.

- How does the US Constitution define a right?

-When might my exercise of my right negatively impact your liberties and interests?

- Also, be prepared to answer in class the following question:

What are the rights provided for in the EU Charter that are not contained in the

Bill of Rights? Or vice versa?

READ

US Bill of Rights (1st Ten Amendments, US Constitution),

Universal Declaration of Human Rights, UN, 1948

EU Charter of Fundamental Rights, 2009

How Conservatives Weaponized the First Amendment, NY Times, Liptak, 2018

WRITTEN HW – One Case Brief - DUE 10/1 due on CLASSES on or before the

start of class.

New York Times v. Sullivan, 1964

- Tension between free speech and state tort claim of defamation.

- When does free speech and free press run into the rights of other people as defined and

protected by state law?

- Who is a public figure? Why does it matter if a defendant is defined as a public figure?

OCTOBER 3 & OCTOBER 9

MODULE #7: DUE PROCESS/SECURING RIGHTS

- Does a right provide you with any benefit if it cannot be enforced?

- What does “due process” mean to you?

- Substantive due process developed as a tool for business before it became a tool for the

promotion of civil liberties.

- How has our concept of rights changed over time?

- How has the law been used as a tool to promote social change?

READ

Substantive Due Process & How it Grew, Patterson 2017

What’s Juneteenth? Dolly Chugh, 2018

America Started Over Once. Can We Do It Again? NY Times Editorial, 2018

INDIVIDUAL RIGHTS, PROTECTIONS AND DUE PROCESS

GOAL: Focusing now on the individual in society and how do personal rights and

interests come into play.

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WRITTEN HW - Three Case Briefs - DUE 10/3 on Classes by or before the start of

class. Planned Parenthood v. Casey, 1992 – read Majority, Dissenting and Concurring

Opinions

- Judicial disagreement as to which amendment(s) provide persons with the right to

privacy. Does the right to privacy even exist?

- Did all of the justices agree with Roe v. Wade?

Plessy v. Ferguson, 1896 – read Majority & Dissent

Brown v. Board of Education, 1954

- Law as a tool for social change, sometimes through long-term litigation strategies

- Consider how the US legal system has built in flexibility and responsiveness to

changing social norms

OCTOBER 10

MODULE #8: PROPERTY LAW: WHAT IS PROPERTY?

- Property defined as a bundle of rights -what is in that bundle?

- Why is protection of private property rights so important in the U.S?

READ

Outline: Property Outline

Property Law Overview, Calderon and Friedland

A Treatise of Human Nature, Hume, 1739 (excerpts)

Principles of the Civil Code, Bentham, 1843 (excerpts)

The Concept of Private Property, Ezra Bowen 1925

Possession as the Origin of Property, Rose, 1985

Tragedy of the Commons, Hardin, 1968

The Mystery of Capital, Hernando de Soto, 2000 (pp.1-7)

WRITTEN HW - One PowerPoint Slide - DUE 10/10 on Classes by or before the

start of class.

Perform individually or in groups of up to 4 students (1 slide per group)

One Powerpoint Slide (NO PDFs) showing an example from your home town or local

community of private property ownership and a one sentence description of whether

private property is good or bad for social and economic well-being. Would it be

preferable for property to be held in common or by the public?

PAPER #1 DUE THURSDAY NIGHT OCTOBER 11 by 11:55pm on NYU

Classes

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OCTOBER 15

MODULE #9: TAKINGS: EMINENT DOMAIN

- Eminent Domain – 5th Amendment – the “takings clause”

- Public needs v. private rights

- How is private use identified as economic development and hence public use?

LISTEN

Lucas v. South Carolina, 1992 Listen: click on Opinion, Announcement on Left

https://www.oyez.org/cases/1991/91-453

WRITTEN HW - Two Case Briefs - DUE 10/15 on Classes by or before the start of

class. Kelo v. City of New London, 2005

Kaur v. New York State Urban Development Corp., 2010

WRITTEN HW – One PowerPoint Slide – DUE 10/15 on Classes by or before the

start of class.

Perform individually or in groups of up to 4 students (1 slide per group)

One Powerpoint Slide (NO PDFs) showing an example of a “TAKING” and briefly

explain whether you think the taking accomplished an appropriate public purpose. Feel

free to use words, pictures, etc. – you are encouraged to be creative.

OCTOBER 17 - Paper #2 Assignment will be posted on or before this date.

MODULE #10: INTELLECTUAL PROPERTY

- Why did the framers of the US Constitution decide that Congress could create and

protect intellectual property?

- Is intellectual property similar to other kinds of property? Are your rights to your

intellectual property more limited? How did the concept of intellectual property rights

originate?

- If we want to incentivize people to create, then how should we share creative works?

- Should inventions – like music, books, movies, etc. – be deemed a “public good”?

- Is there a different treatment of intellectual property in other countries? Briefly describe.

READ

Outline: Intellectual Property

Intellectual Property Comparison Chart

WRITTEN HW - One Case Brief - DUE 10/17 on Classes by or before the start of

class. The Authors Guild v. Google, 2013

- How to balance the rights of copyright owners against the public interest

- How can one strike a balance with other types of intellectual property? Would a fair use

concept be useful? Preferable?

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OCTOBER 22

MODULE #11: ENFORCEABLE PROMISES

- Contracts = Promises enforceable by the state through the civil court system

- Contracts permeate our daily lives

- Most contracts are not written

- Contract law is governed mostly by common law rather than statutory law

- Generally no punitive damages are awarded in contract law. Why?

READ

Outline: Contracts

WRITTEN HW - One Case Brief - DUE 10/22 on Classes by or before the start of

class. Lucy v. Zehmer, 1954

- Objective theory of contract law

- Actions objectively judged by how they appear to a reasonable person

- Actions are not evaluated based upon subjective feelings or psychology of the parties

OCTOBER 24

MODULE #12: CONTRACT CREATION:

OFFER/ACCEPTANCE/CONSIDERATION

- Offer, acceptance and consideration explained

READ/WATCH

Outline: Agreement & Consideration

“Susan’s Problem” - for Module #s 12 and 13 - read and answer the questions posed

and be prepared to discuss them in class. Do not submit your responses online but

instead just bring your written responses to class.

Pepsi Commercial http://www.youtube.com/watch?v=ZdackF2H7Qc

WRITTEN HW - Three Case Briefs - DUE 10/24 on Classes by or before the start of

class.

Leonard v. Pepsico, 1999 - Offer

Hamer v. Sidway, 1891 - Consideration

J.L. v. J.L., 2015 - Consideration

PRIVATE ORDERING

GOAL: Understand how promises are created and enforced; how can individuals and

businesses best arrange their affairs with the assistance of the law.

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OCTOBER 29

MODULE #13: QUASI CONTRACT, PROMISSORY ESTOPPEL AND OTHER

EQUITABLE RELIEF

- What if a promise is enforced even if a contract does not exist?

- Does such enforcement impact the integrity of contracts?

READ

Outlines: Quasi-Contract & Other Equitable Relief

WRITTEN HW - Two Case Briefs - DUE 10/29 on Classes by or before the start of

class.

Hoffman v. Red Owl Stores, Inc., 1965 - Promissory Estoppel

135 East 57th Street v. Daffy's, 2011 - Equitable remedy

OCTOBER 31

MODULE #14: DEFENSES TO CONTRACT ENFORCEMENT, CONTRACT

PERFORMANCE AND CONTRACTUAL REMEDIES

- Enforcing a contract may be unfair and unjust: Riggs v. Palmer refrain

- Equity cries out for a remedy

- Common law provides some wiggle room

- Has common law made it too easy for judges to interfere with the way people and

businesses have ordered their affairs?

READ

Outlines: Defenses to Contract Enforcement, Contract Performance, Conditions

and Remedies

WRITTEN HW - Three Case Briefs - DUE 10/31 on Classes by or before the start of

class.

Strawn v. Canuso, 1995

- Does the seller have a duty to disclose? Should non disclosure be deemed to be

fraudulent misrepresentation?

Jones v. Star Credit Corp., 1969 - Unconscionability

Jacob & Youngs v. Kent, 1921 – Failure of condition vs breach of promise; Material vs

Minor breach of promise and Substantial Performance

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PAPER #2 DUE – FRIDAY NIGHT NOVEMBER 2 - by 11:55pm on NYU

Classes

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WRITTEN HW – TWO Study Questions – DUE 11/7 on Classes by or before the

start of class.

Respond with a maximum of 250 words per question, double-spaced:

1. In the Sullivan case do you agree with the majority opinion or the dissenting

opinion? Explain your reasoning.

2. Do you think the BDO decision promotes or hinders efficient employment

markets? Explain your reasoning.

NOVEMBER 12

PRACTICE DEBATES

NOVEMBER 14

MODULE #17: BUSINESS ENTITIES

Introduction to some of the major business entity forms: sole proprietorships, general

partnerships, limited partnerships, limited liability partnerships, corporations (different

types) and limited liability companies.

- Origins of the corporation – not referred to in the US Constitution or in federal statutory

law. The corporation is a creation of state law early in the country’s life.

- Corporation is an efficient means to organize capital

- Is a corporation defined as a person? If so, why and how?

- What is a public (publicly held) corporation vs a private (privately held) corporation?

- What is a for profit vs a non profit corporation?

- Also consider Benefit “B” Corporations and Corporate Cooperatives (agricultural,

utilities, residential etc.)

READ

Outlines: Business Entities

WRITTEN HW – ONE Case Brief - DUE 11/14 on Classes by or before the start of

class.

Trustees of Dartmouth College v. Woodward, 1819

NOVEMBER 19

MODULE #18: THE MODERN CORPORATION

- What is the significance of a corporation being defined as a person? What does it mean

to say that a corporation is a person?

- What are the responsibilities of the modern corporation and its management? To whom

are such responsibilities owed? What is the shareholder v. stakeholder approach.

- What role does and should the law play in empowering and limiting corporations?

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READ/LISTEN

Hillary The Movie trailer http://www.youtube.com/watch?v=BOYcM1z5fTs

WRITTEN HW - ONE Case Brief - DUE 11/19 on Classes by or before the start of

class

Citizens United v. Federal Election Commission, 2010 Majority and Dissenting

Opinions

- First Amendment free speech protections provided for corporations in elections

- How do the justices’ different opinions view the corporation?

- When corporations speak in elections, who is really speaking?

- And what is being said?

NOVEMBER 26

MODULE #19: FEDERAL SECURITIES LAWS’ REGULATION OF THE

CAPITAL MARKETS

- Should capital markets be regulated?

- What is insider trading?

- Will regulation solve the market inefficiency of asymmetric information?

- Will regulation solve any of the other market distortions?

READ

Outline: Securities Fraud

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NOVEMBER 28

MODULE #20: TORT LAW

- A private remedy that can be utilized in the absence of, or parallel with, a criminal

action

- Generally based on common law rather than statutory law.

- Sets forth a standard of behavior for interactions among people as well as between

people and their businesses

- But does tort liability promote litigation? Why or why not?

READ

Outline: Torts

The Right to Privacy, Justices Brandeis & Warren, 1890

NY Civil Rights Law Sec. 51

WRITTEN HOMEWORK - TWO Case Briefs - DUE 11/28 on Classes by or before

the start of class

Vanna White v. Samsung, 1992

Foster v. Svenson, 2015

- Focus on the intentional torts of invasion of privacy and right of publicity; what is the

distinction between them?

WRITTEN HW – ONE Study Question – DUE 11/28 on Classes by or before the

start of class.

Respond with a maximum of 250 words per question, double-spaced:

1. After reading the court’s opinion in the Foster case do you think that the New

York State legislature should amend Section 51 of the NYS Civil Rights Law to

provide families with privacy in similar situations? And, if so, how?

DECEMBER 3

MODULE #21: PRODUCT LIABILITY LAW

- Application of contract law (warranties) and tort law (intentional, negligent and strict

liability)

- Which defendants might be liable for plaintiff’s losses: designer, manufacturer,

wholesaler, retailer, etc.?

- Does what we choose to protect say something about our society?

- The allocation of economic losses between private parties: consumers vs business

- Negative externalities dealt with through the civil justice system

INJURIES & HARMS

GOAL: To understand how and why society and its members provide remedies for

private wrongs committed against persons and their property.

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READ

Outline: Product Liability

WRITTEN HOMEWORK - ONE Case Brief - DUE 12/3 on Classes by or before the

start of class

Make sure to include a discussion of the precedent cases leading to the court’s ruling

in the McPherson case

McPherson v. Buick Motor, 1916

- Why did Judge Cardozo hold manufacturers liable to persons/businesses other than the

direct purchasers?

- Do you think that Judge Cardozo’s decision incentivized businesses to take more care

when designing, manufacturing or selling products?

WRITTEN HOMEWORK – One PPT Slide – DUE 12/3 on Classes by or before the

start of class. Perform individually or in groups of up to 4 students (1 slide per

group)

Find ONE specific example of a harmful product. Put your example on ONE

PowerPoint slide – NO PDFs. Feel free to use words, pictures, etc. – be creative.

DECEMBER 5

MODULE #22: ENVIRONMENTAL LAW: MANAGING OUR ENVIRONMENT

- Who or what should be protected from harm?

- What are the tools for remedying or preventing environmental harm? Nuisance, federal

and/or state statutory and common law; federal and state regulation; enlightened

business?

- Minimizing harm to the environment may increase financial performance and contribute

to the collective good at national, state, federal and global levels

- But when does minimizing harm amount to taking private property? Lucas refrain

- Tragedy of the Commons refrain

READ

Environmentalism Was Once a Social-Justice Movement, The Atlantic, Purdy, 2016

Robert Bullard: The Father of Environmental Justice, Ensia, 2014

Hog Farm Nuisance materials

Sturges v. Bridgman, England 1879 – Nuisance

WRITTEN HW – ONE Study Question – DUE 12/5 on Classes by or before the start

of class

Respond with a maximum of 250 words per question, double-spaced:

1. Explain some of the differences between the noise problem faced by the plaintiff

doctor in Sturges v. Bridgman, NYC trying to reduce storm runoff, and a low

income community trying to avoid a new highway exit ramp (which will increase

vehicle exhaust and noise) from being built near the local elementary school.

Focus on who is causing the harm, who is injured, etc.

21

DECEMBER 10 and 12

US SUPREME COURT DEBATES

ALL US Supreme Court Debate Written Deliverables will be due on

Friday Night December 14 by 11:55pm on Classes – Submit ONE Debate Report

per group. However, each group member must submit his/her own Confidential

Evaluation Report by 11:55pm on December 14th.

Extra Credit Courthouse Visit Paper Assignment Must be Submitted on NYU

CLASSES by Friday Night December 7 by 11:55pm.

FINAL EXAM SCHEDULE

https://www.nyu.edu/registrar/pdf/Final_exam_schedule_Fall_2018.pdf

Section 01 (9:30am class) – Monday 12/17, 8:00am- 9:50am

Section 02 (11:00am class) – Monday 12/17, 10:00am – 11:50am

Note that I will not reschedule the date of the Final Exam even if you will be

taking 2 or more exams on that same day or you have purchased a non

refundable air plane ticket. Students should plan accordingly.