Clayton’s Case: the 21st century impact of a 19th century bank failure

The rule in Clayton’s Case was enunciated just over 200 years ago and has met with both widespread acceptance and widespread criticism.

This article examines its fortunes over the last two centuries and its continuing impact today, looking at the unexpected consequences to which it can give rise, the steps which needto be taken to mitigate those consequences and the problems associated with itsapplication in factual contexts completely different from the situation which led to its formulation.

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Filed Under: JIBFL

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