Attorney Kenneth A. Adams writes that in terms of how efficiently they express the intent of the parties, contracts used in big-time mergers-and-acquisitions deals are dysfunctional, and it's time to think about fixing them. Adams reviews Chancellor William B. Chandler III's opinion in United Rentals Inc. v. RAM Holdings Inc., the case commonly known as "the Cerberus litigation," and suggests some changes in contract drafting that might help other parties avoid a lawsuit.
Are Law Firms Using Dysfunctional Contracts in M&A Deals?
New York Law Journal
February 21, 2008