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14 results

  • 8 - Commentary on Meinhard v. Salmon

  • from Part IV - Fiduciary Duties in Corporate Governance
  • Edited by Anne M. Choike, Michigan State University, Usha R. Rodrigues, University of Georgia School of Law, Kelli Alces Williams, Florida State University
  • Book:
    Feminist Judgments: Corporate Law Rewritten
    Published online:
    15 January 2023
    Print publication:
    05 January 2023, pp 191-220

  • Summary

    Meinhard v. Salmon found a heightened duty of loyalty among joint adventurers: the duty of finest loyalty. Famously, Chief Judge (and later, Associate Justice of the United States Supreme Court) Cardozo wrote that trustees are held to “not honesty alone, but the punctilio of an honor the most sensitive.” Professor Christine Hurt comments on the missing history surrounding the relationship of Meinhard and Salmon and the condition of the United States at the time the underlying transactions took place. Professor Dalia Mitchell, rewriting the Meinhard opinion as Justice Mitchell, reaches the same conclusion but through vulnerability theory and the feminist widening the lens method. In doing so, she considered the history, context, and persons affected by the outcome in a way unique to the rewritten opinion. The original opinion is critiqued for essentially providing the utmost care or no duty whatsoever with nothing in between. Notably, the initial decision only takes the contractual relationship between Meinhard and Salmon into account. Under vulnerability theory, the opinion should consider the overall context of joint adventurers’ relationships to reach more equitable decisions.

  • Introduction

  • Edited by D. Gordon Smith, Brian Broughman, Vanderbilt University, Tennessee, Christine Hurt
  • Book:
    The Cambridge Handbook of Law and Entrepreneurship in the United States
    Published online:
    07 April 2022
    Print publication:
    14 April 2022, pp 1-9

  • Summary

    The conference that prompted the publication of this volume was motivated by a simple idea, that the core function of entrepreneurs is to challenge incumbency. The novelty inherent in entrepreneurial action implies uncertainty, and hence experimentation, learning, and selection. We invited conference participants to explore issues such as: the incentive effect of legal rules on startup activity; the role of private ordering in facilitating or impeding entrepreneurial action; the influence of legal rules and practices on the creation of entrepreneurial opportunities; the role of law in promoting or foreclosing market entry; or the effect of entrepreneurial action on legal doctrine. This volume is the result of that invitation.

The Cambridge Handbook of Law and Entrepreneurship in the United States
  • Edited by D. Gordon Smith, Brian Broughman, Christine Hurt
  • Published online:
    07 April 2022
    Print publication:
    14 April 2022
  • Law plays a key role in determining the level of entrepreneurial action in society. Legal rules seek to define property rights, facilitate private ordering, and impose liability for legal wrongs, thereby attempting to establish conditions under which individuals may act. These rules also channel the development of technology, regulate information flows, and determine parameters of competition. Depending on their structure and implementation, legal rules can also discourage individuals from acting. It is thus crucial to determine which legal rules and institutions best enable entrepreneurs, whose core function is to challenge incumbency. This volume assembles legal experts from diverse fields to examine the role of law in facilitating or impeding entrepreneurial action. Contributors explore issues arising in current policy debates, including the incentive effect of legal rules on startup activity; the role of law in promoting or foreclosing market entry; and the effect of entrepreneurial action on legal doctrine.

  • 2 - Extra Large Partnerships

  • from Part I - Identifying Fiduciaries and Their Duties
  • Edited by Arthur B. Laby, Jacob Hale Russell
  • Book:
    Fiduciary Obligations in Business
    Published online:
    20 August 2021
    Print publication:
    09 September 2021, pp 40-56

  • Summary

    This Chapter analyzes two of the most extreme examples of partnerships that have outgrown partnership law: limited liability partnerships (LLPs) and publicly-traded partnerships (PTPs), known in the investment community as master limited partnerships (MLPs). Both of these entities reflect the tension between traditional partnership law and legislatively-granted limited liability and contractual flexibility. Just as corporation statutes apply awkwardly to small, closely-held corporations, partnership and limited partnership acts apply even more awkwardly to extra large partnerships.

  • Perceptions of memory problems are more important in predicting distress in older adults with subjective memory complaints than coping strategies

  • Catherine S. Hurt, Alistair Burns, Christine Barrowclough
  • Journal:
    International Psychogeriatrics / Volume 23 / Issue 8 / October 2011
    Published online by Cambridge University Press:
    22 March 2011, pp. 1334-1343

  • Background: There is a high prevalence of subjective memory complaints (SMCs) amongst older adults, many of whom experience significant distress. It remains unclear why some older adults with SMCs experience more distress than others. The Common Sense Model of Illness Perceptions has been used to explain patients’ differential response to illness based on the beliefs they hold about their illness and subsequent selection of coping strategies. The present study aimed to examine the role of perceptions and coping styles in predicting anxiety and depression in older adults with SMCs.

    Methods: 98 participants with SMCs completed the Illness Perception Questionnaire for Memory Problems (IPQ-M), Ways of Coping Questionnaire (WCQ), Geriatric Depression Scale (GDS) and Beck Anxiety Inventory (BAI). Multiple regression analysis was used to determine the contribution of illness perceptions and coping to the explanation of variance in depression and anxiety.

    Results: Perceptions of SMCs were found to predict both depression and anxiety while coping strategies did not. Perceptions of serious consequences of SMCs and causal attributions predicted greater depression, while attribution of memory problems to lack of blood to the brain was the only predictor of increased anxiety.

    Conclusions: Illness perceptions predicted depression and anxiety in older adults with SMCs. Contrary to the Common-Sense Model coping style was not found to be an important determinant of psychological distress. The findings provide a basis for developing interventions to reduce psychological distress in older adults with subjective memory complaints. Targeting causal attributions and perceived consequences of SMCs may help to improve well-being.

  • Perceptions of subjective memory complaint in older adults: the Illness Perception Questionnaire – Memory (IPQ-M)

  • Catherine S. Hurt, Alistair Burns, Richard G. Brown, Christine Barrowclough
  • Journal:
    International Psychogeriatrics / Volume 22 / Issue 5 / August 2010
    Published online by Cambridge University Press:
    25 January 2010, pp. 750-760

  • Background: Subjective Memory Complaints (SMCs) are common among middle-aged and older adults and are often a source of distress and worry. However, rates of help-seeking are low. Investigating perceptions of SMCs may help us better to understand psychological reactions to SMCs and help-seeking behavior. The present study had two aims: (i) to investigate whether the dimensions drawn from the Common Sense Model of Illness Perception (Leventhal et al., 1984) provide a valid model of perceptions held by patients with SMCs; and (ii) to develop a questionnaire to measure these perceptions.

    Methods: Qualitative interviews to explore perceptions of SMCs were conducted with 32 participants recruited from a memory clinic and community groups. Information from these interviews was utilized to adapt the Illness Perception Questionnaire – Revised (IPQ-R) for use with patients with SMCs. Ninety-eight such patients then completed the adapted questionnaire along with measures of cognition, depression and subjective memory function.

    Results: The dimensions of illness perception measured by the IPQ-R were present in participant accounts of SMCs with the exception of Timeline Cyclical. The adapted measure (IPQ-M) showed good validity and reliability.

    Conclusions: The development of the IPQ-M provides opportunities for further investigation of illness perceptions and their relationship to psychological distress and help-seeking behavior in SMCs. Furthermore, investigation of these relationships may provide a basis from which to develop interventions to improve well-being and help-seeking in older adults with SMCs.