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For decades, firms and individuals have utilized written documents to aid in the negotiation of, and completion of, business transactions. One such document is known as a "letter of intent." A letter of intent is often in the form of a letter that serves to evidence preliminary discussions and aid

For decades, firms and individuals have utilized written documents to aid in the negotiation of, and completion of, business transactions. One such document is known as a "letter of intent." A letter of intent is often in the form of a letter that serves to evidence preliminary discussions and aid in negotiations between parties. They are generally intended to be "non-binding," meaning neither party will be bound by terms or conditions set forth in the letter of intent unless formal documents are later prepared and executed by the parties. Letters of intent take myriad forms and names, such as "memorandum of understanding," "proposal letter," and "letter of interest." They have been used in many areas of business, including finance, real estate, and supply chain management. Parties often choose to use a letter of intent for varied benefits it may provide, memorializing preliminary discussions, establishing a timeline for negotiations, seeing whether there are any "deal breakers" among terms being proposed, confirming that a party is serious about a deal, or putting moral pressure on the other party to continue negotiations. However, letters of intent carry with them a significant level of risk, which raises the question of whether or not they should be used at all. Many of the risks associated with the use of a letter of intent stems from the potential for a court to find that a letter of intent constitutes a binding agreement, or creates a duty of the parties to continue negotiations in good faith. Parties to a letter of intent may later disagree as to whether they intended all of the terms, or a particular provision, to be legally binding and enforceable, resulting in legal action. Even if a court finds that a letter of intent does not constitute a binding contract, a party may be able to recover damages under a number of legal theories, such as breach of a duty to negotiate in good faith or promissory estoppel. The use of letters of intent is therefore risky, and ultimately, the risks may outweigh the benefits of utilizing letters of intent. This thesis studies the types, uses, benefits, and risks associated with the use of letters of intent, including an examination of statutes and cases that have been applied by courts in disputes surrounding their use. Ways to mitigate the risks of use are also examined including simple practices such as not signing a letter of intent and using a separate document for any terms which must be binding, such as a "no shop" clause. A proposed legislative solution is also discussed that would prevent letters of intent not explicitly intended to be binding and meeting statutory requirements from being enforced in court, thereby substantially reducing the risks associated with the use of letters of intent.
ContributorsGilman, Alexander James (Author) / Birnbaum, Gary (Thesis director) / Stein, Luke (Committee member) / Claus, Scot (Committee member) / Department of Finance (Contributor) / W. P. Carey School of Business (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
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This paper analyzes the economic, legal, and social aspects of the legal cannabis industry in the United States. These analyses include the history, current status, and future of all three components, all with an emphasis on reforming the existing systems in place in order to achieve the most beneficial cannabis

This paper analyzes the economic, legal, and social aspects of the legal cannabis industry in the United States. These analyses include the history, current status, and future of all three components, all with an emphasis on reforming the existing systems in place in order to achieve the most beneficial cannabis industry possible. Many reformative legal implications are made, stressing the importance of decriminalizing cannabis, releasing nonviolent and cannabis-related criminals from prison, and expunging their criminal records. The paper places a heavy emphasis on the importance of designing the legal system to be fair and equal across all racial and ethnic groups, given that people of color have been hit the hardest in terms of cannabis-related issues. Economic components such as tax design and access to proper financial institutions are also included, as well as the social implications that have both gone into and are a product of the long-standing war on drugs. While there is no comprehensive solution for how to fix every aspect of the industry, this paper highlights key aspects to be aware of in the design stages of potential federal legalization.

ContributorsCurtis, Capri Andriana (Author) / Reffett, Kevin (Thesis director) / Boyce-Jacino, Katherine (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Economics (Contributor) / Sanford School of Social and Family Dynamics (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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Music streaming services have affected the music industry from both a financial and legal standpoint. Their current business model affects stakeholders such as artists, users, and investors. These services have been scrutinized recently for their imperfect royalty distribution model. Covid-19 has made these discussions even more relevant as touring income

Music streaming services have affected the music industry from both a financial and legal standpoint. Their current business model affects stakeholders such as artists, users, and investors. These services have been scrutinized recently for their imperfect royalty distribution model. Covid-19 has made these discussions even more relevant as touring income has come to a halt for musicians and the live entertainment industry. <br/>Under the current per-stream model, it is becoming exceedingly hard for artists to make a living off of streams. This forces artists to tour heavily as well as cut corners to create what is essentially “disposable art”. Rapidly releasing multiple projects a year has become the norm for many modern artists. This paper will examine the licensing framework, royalty payout issues, and propose a solution.

ContributorsKoudssi, Zakaria Corley (Author) / Sadusky, Brian (Thesis director) / Koretz, Lora (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
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The threat of global climate change to the world’s water resources has jeopardized access to clean drinking water across the world and continues to devastate biodiversity and natural life globally. South Africa operates as a useful case study to understand and analyze the effectiveness of public policy responses to the

The threat of global climate change to the world’s water resources has jeopardized access to clean drinking water across the world and continues to devastate biodiversity and natural life globally. South Africa operates as a useful case study to understand and analyze the effectiveness of public policy responses to the perils of climate change on issues of water access and ecosystem preservation. After the new South African Constitution was enacted in 1997, protecting water resources and ensuring their equitable distribution across the nation’s population was a paramount goal of the young democratic government. The National Water Act was passed in 1998, nationalizing the country’s water infrastructure and putting in place programs seeking to ensure equitable distributive and environmental outcomes. Thus far, it has failed. Access to South Africa’s water resources is as stratified as access to its economy; its aquatic ecosystems remain in grave danger; and many of the same problems of South Africa’s Apartheid era still plague its efforts to create an equitable water system. Decision-making power continues to be concentrated in the hands of the wealthy, at the expense of historically marginalized groups, whose voices are still not adequately heard. Corporate actors still exert undue influence over legislative policy that favors economic growth over environmental sustainability. The looming threat of climate change is exponentially increasing the chances of disasters like Cape Town’s 2018 feared ‘Day Zero’. The National Water Act’s noble intentions were never actualized, and therefore the people of South Africa remain in serious danger of acute and chronic threats to their water supply.

ContributorsWakefield, Alex (Author) / Childers, Dan (Thesis director) / Larson, Rhett (Committee member) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
ContributorsFarmer, Bethany (Author) / Blanks, Zachary (Co-author) / Martin, Thomas (Thesis director) / Prosser, Eric (Committee member) / Irving, Tom (Committee member) / Barrett, The Honors College (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2023-05
ContributorsFarmer, Bethany (Author) / Blanks, Zachary (Co-author) / Martin, Thomas (Thesis director) / Prosser, Eric (Committee member) / Irving, Tom (Committee member) / Barrett, The Honors College (Contributor) / Dean, W.P. Carey School of Business (Contributor)
Created2023-05
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In this project I created a series of infographics as comprehensive resources for students to reference as educational guides. As a business law student I have been able to accumulate knowledge through all of my law courses to better understand our society and its laws, albeit this knowledge is not

In this project I created a series of infographics as comprehensive resources for students to reference as educational guides. As a business law student I have been able to accumulate knowledge through all of my law courses to better understand our society and its laws, albeit this knowledge is not yet complete. Other students are not always given this same opportunity to understand their rights and the laws that govern them and have clearly indicated to me through my survey that they would feel better prepared to become young adults in society if they were given additional resources. Therefore, my thesis consists of research based on the results of my survey regarding the areas of law that students indicated interest in along with a series of seven infographics with easy to understand information about the First Amendment, the Sixth Amendment, women’s rights, arbitration, legal offenses and consequences, Arizona State University’s legal and emergency resources, and the main constitutional amendments students should be aware of. Students should understand the laws they must abide by as members of society as well as the constitutional rights they are guaranteed if they are expected to fully obey and use both as incoming adults of the United States of America.

ContributorsSlawson, Morgan (Author) / Hoekstra, Valerie (Thesis director) / Forst, Bradley (Committee member) / Barrett, The Honors College (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Economics Program in CLAS (Contributor)
Created2022-05
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This paper looks at case studies, legal journals, and legal commentaries to examine the history of plea bargains and determine how such a practice slowly crept its way into the American judicial system. Next, I discern both the two specific benefits and three disadvantages of utilizing plea bargains in a

This paper looks at case studies, legal journals, and legal commentaries to examine the history of plea bargains and determine how such a practice slowly crept its way into the American judicial system. Next, I discern both the two specific benefits and three disadvantages of utilizing plea bargains in a system that was traditionally renowned for its unique form of adversarial / trial based justice. By analyzing case studies and legal texts, I find that the administrative advantages and cost benefits used to rationalize continued usage of plea deals does not outweigh its extremely negative effects on significant aspects of law and the American legal system. These significant negative effects as a product of the plea bargain are a definitive hindrance to justice and further characterize the system as no longer fair and certainly not equitable. Consequently, I assert that in order to maintain the ethics of the system, plea bargains should be removed. I also generally outline the Philadelphia Bench Trial as a prospective and viable alternative to plea bargains that could act as an intriguing substitute. The Philadelphia Bench Trial represents a highly viable alternative to the plea bargain and consequently preserves many of the advantages plea bargains offer the system without sacrificing the adversarial element necessary to receive correct and accurate verdicts.
ContributorsRimsza, Alex Gill (Author) / Stanford, Michael (Thesis director) / Forst, Brad (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of English (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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This paper explores the relationship between social and cultural capital and the experience of Asian Americans in law school and after graduating from law school. Bourdieu’s (1986) conceptualizations of institutional cultural capital, embodied cultural capital, and social capital guide this analysis. Two electronic surveys resulted in participation by fourteen Asian

This paper explores the relationship between social and cultural capital and the experience of Asian Americans in law school and after graduating from law school. Bourdieu’s (1986) conceptualizations of institutional cultural capital, embodied cultural capital, and social capital guide this analysis. Two electronic surveys resulted in participation by fourteen Asian American law students and nine Asian American law school graduates from American Bar Association-accredited law schools in the United States. The research design is qualitative, and a partial grounded theory approach based upon Charmaz’s (2006) work was utilized. Thematic coding, line-by-line coding, and focused coding were also used to analyze survey responses. Results demonstrate that there is a relationship between social and cultural capital and the experience of Asian Americans in law school and post-law school graduation. Institutional cultural capital, in the form of J.D. degrees, seems to influence the development of embodied cultural capital and social capital, particularly when considering membership in groups and forming personal and professional connections. When considering embodied cultural capital, family members appear to influence important personal characteristics that participants carry into law school and the workplace. These results may have implications for the larger trend of Asian Americans leaving large law firms; in addition, perceptions of embodied cultural capital may influence barriers to career advancement. Suggested areas for future research include the role of mentorship in Asian American career development, patterns within specific Asian American ethnic/cultural groups in the legal field, and the intersection of gender and Asian American identities in legal practice.
ContributorsSu, Yuhong (Author) / Nakagawa, Kathryn (Thesis director) / Broberg, Gregory (Committee member) / School of Social Transformation (Contributor, Contributor, Contributor) / Economics Program in CLAS (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-12
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After the landmark case, Gideon v Wainwright was heard by the United States Supreme Court in 1963, the 6th Amendment granted counsel to indigent defendants. However, since 1963 the United States population has skyrocketed and so have arrest rates leaving many public defenders underpaid and overworked. Knowing these facts Can

After the landmark case, Gideon v Wainwright was heard by the United States Supreme Court in 1963, the 6th Amendment granted counsel to indigent defendants. However, since 1963 the United States population has skyrocketed and so have arrest rates leaving many public defenders underpaid and overworked. Knowing these facts Can Justice be Bought uses interviews, real-life stories, and research to determine if the 6th Amendment is upheld in the way the system is currently working, and are indigent defendants given a fair chance at trial. After an overview of public defense in the United States as a whole, it becomes clear that in many states the way the system is operating gives them less than a fair chance at justice. This, however, is not from a lack of effort from public defenders, they are simply just so overworked by exorbitant caseloads that they cannot possibly give each of their cases the time it deserves. However, not all indigent defense systems were created equal, states like Maryland have a number of resources for their public defenders that set them up for success. In order to close the gap between private counsel and public defense in the United States, public defenders’ offices should begin to allocate more funding in order to lighten their defenders’ caseloads as well as to provide them with resources such as expert witnesses and social workers. Funding is not found overnight, so in the meantime, the implementation of “participatory defense” can also help close the gap. The advantage of wealth is not found only in the courtroom but through nearly every part of the criminal justice system. From bail to parole, wealthier defendants typically see higher rates of success and lower rates of recidivism due to their ability to pay for these programs.
ContributorsAyd, Olivia (Author) / Koretz, Lora (Thesis director) / Moore, James (Committee member) / Dean, W.P. Carey School of Business (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2020-05