Richard Speidel, Long-term supply contracts, Court adjustment, Aluminum Co. of America v. Essex Group, Inc., ALCOA
Commercial Law | Contracts | Courts | Legal Remedies
In a symposium to honor Professor Richard Speidel, a giant in the field of contract and commercial law for over four decades, this contribution argues that Speidel may have been correct in asserting that, in limited circumstances, court adjustment of disrupted long-term contracts makes sense. I assert that nothing courts have decided or writers have analyzed since the ALCOA case proves that court adjustment is wrong-headed. But, as with so many policy issues, we may never identify the "best" judicial approach to disrupted long-term contracts because resolution depends on too many variables and unknowns.
Hillman, Robert A., "Maybe Dick Speidel Was Right about Court Adjustment" (2009). Cornell Law Faculty Publications. 539.
Published in: San Diego Law Review, vol. 46, no. 3 (August-September 2009).