Indeterminacy and Balance: A Path to a Wholesome Corporate Law
Fenner L. Stewart
University of Calgary, Faculty of Law
September 20, 2012
Rutgers Business Law Review, Vol. 9, Fall 2012
Osgoode CLPE Research Paper No. 30/2012
This article argues that corporate legal scholarship needs to focus primarily upon the indeterminacy of essentialist theories about the corporation. This will result in greater pluralism, since no essentialist legal theory would become heavily privileged over any other. When such a balance is created between theories, a robust debate can occur where no ideas are raised to the status of being “undiscussable preferences” and no essentialist theory is off the table before the debate begins. This would lead to fewer consensuses but more complexity than presently exists within corporate legal discourse, helping to immunize the law from the sort of oversimplifications that might offer ease of comprehension at the risk of positive error.
Number of Pages in PDF File: 31
Keywords: Corporate Legal Theory, Corporate Law, Concession Theory, Entity Theory, Nexus-of-Contracts, Law and Economics
JEL Classification: B25, G30, K22
Date posted: September 21, 2012
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