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Review: Through Bankruptcy with the Creditors' Bargain Heuristic

Scott, Robert E.

I develop this thesis in Part I of the essay. A review of the basic creditors' bargain theme illustrates its extraordinary power as a method of understanding and justifying prominent features of bankruptcy law. Part II introduces an alternative heuristic which can be seen as either a complementary or a competing vision. This vision highlights the limits of any single heuristic and demonstrates the value of a richer conception of the bankruptcy process. Yet, such additional themes can be introduced successfully only if the student previously has been grounded in bankruptcy theory. Thus, I conclude that the Baird and Jackson conceptual framework is a significant advance in the teaching of the bankruptcy law even for those who do not share their unqualified commitment to the creditors' bargain heuristic.

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Also Published In

Title
The University of Chicago Law Review
DOI
https://doi.org/10.2307/1599654

More About This Work

Academic Units
Law
Publisher
University of Chicago Law Review
Published Here
January 28, 2016