Thursday, 27 September 2007

Ten things you should know about the Companies Act

Just a brief reference to a good summary of the new UK CA 2006 in The Times: see here

Sunday, 23 September 2007

The openness of the legal methodology

My paper on “legal originality” identified different ways of “being original” in legal research. The overall idea of this paper was to accept the openness of the legal methodology and thus to maintain an attitude of tolerance towards different approaches. For instance, I don’t see why one should not endorse both doctorial work and interdisciplinary approaches to the law. Surprisingly, this was now also expressed by Richard Posner. Despite his extensive interdisciplinary writings he just stated in the University of Chicago Law Review (also noted by “the Conglomerate”):

“The messy work product of the judges and legislators requires a good deal of tidying up, of synthesis, analysis, restatement, and critique. These are intellectually demanding tasks, requiring vast knowledge and the ability (not only brains and knowledge and judgment, but also Sitzfleisch) to organize dispersed, fragmentary, prolix, and rebarbative materials. These are tasks that lack the theoretical breadth or ambition of scholarship in more typically academic fields. Yet they are of inestimable importance to the legal system and of greater social value than much esoteric interdisciplinary legal scholarship”.

Tuesday, 18 September 2007

How not to react to potential bank failures!

Since last week the emergency loan of the Bank of England to Northern Rock and the subsequent withdrawal of money from the mortgage lender dominate the newspapers in the UK. Now, the Chancellor of the Exchequer, Alistair Darling, pledged the government would fully guarantee people’s savings and the Treasury said similar assurances would be available to customers of any other lender that ran into difficulty in the current turmoil. The aim of this pledge – protection of customers and prevention of a banking crisis – appears to be plausible. However, it is very doubtful whether this general pledge for all financial institutions (!) is sound. Customers should be vigilant about their banks. That’s why the Deposit-Guarantees Directive 94/19/EEC does not provide full protection but only prescribes that “deposit-guarantee schemes shall stipulate that the aggregate deposits of each depositor must be covered up to Euro 20000 in the event of deposits being unavailable.” This is elaborated by law & economics under the title “moral hazard”.

Monday, 10 September 2007

Times Good University Guide (UK)

And again a new ranking (see here):

The overall top ten are: (1) Oxford; (2) Cambridge; (3) Imperial College; (4) LSE; (5) St. Andrews; (6) UCL; (7) Warwick; (8) Bristol; (9) Durham; (10) King’s College London … [(13) Edinburgh]

The top ten in law are: (1) Cambridge; (2) UCL and Aberdeen; (4) LSE; (5) Oxford; (6) Durham; (7) Edinburgh; (8) Nottingham; (9) King’s College London; (10) Strathclyde