The Lawyer Client Problem

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The Lawyer Client Problem

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IV. The Lawyer Client Problem V. Moore vs UCA VI. Kidney Shortage


Lecture number:
4
Pages:
1
Type:
Lecture Note
School:
Cornell University
Course:
Econ 4040 - Economics and the Law
Edition:
1

Unformatted text preview:

Econ 4040 1st Edition Lecture 4 Outline of Last Lecture I. History of Property II. Property Law III. United States vsCausby Outline of Current Lecture IV. The Lawyer Client Problem V. Moore vs UCA VI. Kidney Shortage Current Lecture The lawyer client problem: What is the marginal benefit for each hour spent for the client and the lawyer? What are the opportunity costs? Contingency fees are problematic given that they don’t include the opportunity costs of working for someone else Compensating the opportunity costs make the lawyer indifferent Moore vs UCA: Torte conversion and wrongful possession of another’s property, in this case diseased cells Moore’s claim: strict liability torte and restitution should be made Could negotiate a contract for profits and give a definite owner of the spleen once removed from Moore’s body Would be costly to society and considered an externality and loss if thrown away There is a kidney shortage in the USA Kidney failure leads to dialysis which is extremely costly and if kidneys could be exchanged for cash and could be subsidized via health care- would take care of the kidney shortage and would allow those who have a willingness to sell their kidneys a market These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.



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