The University of Chicago Undergraduate Law Review (UCULR) is a student-run publication dedicated to the discussion, analysis, interpretation, and evaluation of a variety of legal issues. It aims to provide a better understanding of the law in all of its ambiguities and contradictions in order to reveal how complex compilations of regulatory components can not only serve as reflections of social attitudes towards general ideas of order, agency, consent, power, and choice, but influence the most minute details of everyday life.
The UCULR’s second issue explores the complications, contradictions, and consequences that emerge from the intersection between science, technology, and the law. By uncovering the difficulties in providing legal protections for traditional knowledge in Kenya, analyzing the legal implications and policy effects of the Supreme Court decision in Mayo Collaborative v. Prometheus Laboratories, and examining the inherent danger the implementation of drone surveillance in Chicago presents to legal rights, this issue demonstrates the ways in which law and science converge and conflict on local, national, and international levels. Ultimately, while the arguments featured focus on specific interactions, taken together they produce a broad spectrum of ideas and analyses about the modern problems surrounding the legal codification of science.
With the emergence of extensive cases of fraud in the field of speculative securities markets at the beginning of the 20th century, the state of Ohio passed an act “to regulate the sale of bonds, stocks and other securities and of real estate not located in Ohio and to prevent fraud in such sale.” The law joined the rows of those already enacted all over the United States, known generally as Blue Sky laws. These laws aimed to protect people from buying fraudulent securities by means of imposing strict licensing rules over the dis- tribution and sale of those financial instruments. For instance, Ohio’s Blue Sky law, which was passed in 1913, prohibited individuals and corporations from distributing securities within the state without first receiving a license from the state Securities Commissioner. The process of acquiring the license included the payment of a fee and the disclosure of particular information about the activities of the company, including copies of all of its advertising. The term “securities”, as defined by Ohio’s Blue Sky law, included such financial instruments as stocks, stock certificates, bonds, debentures, and collateral trust certificates, among others. Then, amendments made to the law in 1914 allowed for, inter alia, the regulation of bonds, stocks, and other securities not located in Ohio. Several classes of securities, however, were exempt from the license requirement, including Ohio public bonds, standard listed stocks, mortgages on Ohio real estate, and other financial instruments already under state regulation. While aimed at protecting consumers from fraud, the law aroused much indignation from companies that had been working for decades, had established reputations, and now were required to pay extra, onerous fees every year.
FEATURED BLOG POST
The challenges of providing for the growing population of seniors and the need for greater domestic consumption are widely acknowledged in the literature about China. This post will show how these two seemingly independent issues can be linked in a simple way: by boosting the consumption power of current and future senior citizens. As long as China is making efforts to increase domestic consumption as a percentage of GDP, focusing on the elderly, who are growing as a segment of China’s population, is a reasonable approach. This solution combines two sources of great concern to China’s government and citizens.