Legal Blogging (Commercial)
3/27/2009 7:06:14 PM EST
AIG Executive Bonus Scandal analyzed by Dr. John Murray, author of Corbin on Contracts and upcoming Corbin on Contracts Desk Edition.
The outrage over the millions in taxpayer dollars paid in bonuses to AIG employees induced an almost frantic search to discover ways in which this injustice could be cured. Lawyers and law professors proficient in contract law were pursued to produce theories that would allow the contract between AIG and the bonus-receiving employees to be broken. Leading contract authority and Corbin author, Dr. John Murray, examines several tenets of contract law including mistake, fraud, frustration of purpose and unconscionability that were vigorously applied to cure this injustice. Murray’s timely Emerging Issue Analysis, procured by the Commercial Content Development, urges that notwithstanding justifiable public outrage, legislators should understand the critical importance of the institution of contract.
To read an extract of Dr. Murray’s analysis please click here
Subscribers can access the complete commentary on lexis.com. Additional fees may be incurred.
Create an account or login to post comments.