“No brainer.” That phrase often was used when I was a baby lawyer. It’s an apt phrase regarding whether to read a new article from leaders of the Delaware court system. Francis Pileggi at his blog on Delaware law offers a different set of words to explain the situation (his post is where I learned about the new article). In an August 23, 2014 post, he explained:
“To paraphrase a former tag line for a former investment management firm, when Delaware Supreme Court Chief Justice Leo Strine, Jr. and Vice Chancellor J. Travis Laster of the Delaware Court of Chancery co-author an article on a cutting-edge topic of Delaware law, those lawyers who practice in the relevant field need to “pull up their socks”and take notice.”
Obviously Francis right. It’s a no-brainer. See his post for more specifics. The bottom line is that the new article focuses on whether its a good idea to have absolute freedom of contract for alternative entities. The article is online, and is titled: “The Siren Song of Unlimited Contractual Freedom“, available on SSRN.