Love It or Leave It: Property Rules, Liability Rules, and Exclusivity of Remedies in Partnership and Marriage
Levmore, Saul
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- 1997Virginia Vermiculite, Ltd. v. W.R. Grace & Co.-Conn. W.D. Va.
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Abstract
A claim for "final accounting" as a partner's exclusive remedy is a traditional rule in partnership law, but this rule can be unfair and inefficient. The evolution of the rules of partnership law away from the love-it-or-leave-it, or "exclusivity," tradition is discussed, and traditional partnership law is compared to domestic relations and to corporate law.