Wasn't this the slogan as we Manifest Destiny'd? Hm. Maybe not.
Perhaps unintentionally, this rule encourages spurious litigation by requiring each party in a lawsuit to pay its own attorneys’ fees (as opposed to “English Rule,” which requires the losing party to pay both sides’ legal fees, increasing the downside of bringing, losing, a frivolous claim).
So if you, or someone who owes you a big favor, are a lawyer, consider suing a corporate giant like McDonald’s for negligence because they served you hot coffee that burned you. Odds are that Mickey D’s legal costs for a trial would outweigh yours and you may get a settlement for an amount somewhere in the middle of those two amounts. Win-win.
Related or Semi-related Video
Finance: What are Insider Trading And th...11 Views
Finance a la shmoop what is insider trading and the securities fraud
Enforcement Act of 1988? all right well the Securities and Exchange Act of 1934
aka the 34 Act made it formally illegal to use inside information in trading
stocks amazingly that used to not be illegal or at least not explicitly so [People gambling]
and it wasn't enforced investing was well a clubby white man's insiders gig
and the boys took care of the boys well since people could make a lot of
money with insider information and thought they wouldn't get caught like [Boy peeing at a urinal]
well who's gonna know that I overheard the CEO of big company talking about a
merger in a Denny's washroom you know some folks pretty much ignored
the law well the 1988 law was basically Congress saying you guys were really [Congressman discussing the 1988 law]
serious about this so this new legislation added some hefty penalties
if you get caught as an inside trader people still trade on insider
information though and they still get caught and they go to jail and they lose [Jail door closes on man]
everything they have so he's got to realize some of us were just born to be
bad...
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