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Indeterminacy and Balance: A Path to a Wholesome Corporate Law

Rutgers Business Law Review, Vol. 9, Fall 2012

Osgoode CLPE Research Paper No. 30/2012

31 Pages Posted: 21 Sep 2012  

Fenner L. Stewart

University of Calgary, Faculty of Law

Date Written: September 20, 2012

Abstract

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.

Keywords: Corporate Legal Theory, Corporate Law, Concession Theory, Entity Theory, Nexus-of-Contracts, Law and Economics

JEL Classification: B25, G30, K22

Suggested Citation

Stewart, Fenner L., Indeterminacy and Balance: A Path to a Wholesome Corporate Law (September 20, 2012). Rutgers Business Law Review, Vol. 9, Fall 2012; Osgoode CLPE Research Paper No. 30/2012. Available at SSRN: https://ssrn.com/abstract=2149817

Fenner L. Stewart (Contact Author)

University of Calgary, Faculty of Law ( email )

Murray Fraser Hall
2500 University Dr. N.W.
Calgary, Alberta T2N 1N4
Canada

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