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Volume 3 - 2014 - Issue 1 AMERICAN UNIVERSITY BUSINESS LAW REVIEW Volume 3 - 2014 - Issue 1 TABLE OF CONTENTS SYMPOSIUM ARTICLES: TRANSACTIONAL LAW PEDAGOGY GOING BEYOND THE FOUR CORNERS: REFLECTIONS ON TEACHING LETTERS OF CREDIT AS A SUBSET OF INTERNATIONAL BANKING LAW James E. Byrne....................................... ............. 1 DOING THE NUMBERS: THE NUMERATE LAWYER AND TRANSACTIONAL LAW Theresa A. Gabaldon ................................. ......... 63 DEAL DECONSTRUCTIONS, CASE STUDIES, AND CASE SIMULATIONS: TOWARD PRACTICE READINESS WITH NEW PEDAGOGIES IN TEACHING BUSINESS AND TRANSACTIONAL LAW Michelle M. Harner and Robert J. Rhee ............................. 81 M&A AS ONE COMPONENT OF A BUSINESS PLANNING COURSE Lyman Johnson and Sean Leuba............................99 SYMPosIUM ARTICLES: TRANSACTIONAL LAW PRACTICE THE STATE OF LAWYER KNOWLEDGE UNDER THE MODEL RULES OF PROFESSIONAL CONDUCT George M. Cohen ....................................................... 115 BUSINESS LAWYERING IN THE CROWDFUNDING ERA Joan MacLeod Heminway............ ............................ 149 NON-PARTY INTERESTS IN CLOSING OPINION LETTERS HeatherHughes ....................................... 183 COMMENT NUCLEAR INTENTIONS AND IMPLIED PREEMPTION: How ENTERGY NUCLEAR VERMONT YANKEE, LLC V. SHUMLIN GIVES INDIAN POINT A FIGHTING CHANCE TO STAY IN BUSINESS Zachary Mason .............................................197 NOTE PAY-TO-PLAY: THE IMPACT OF GROUP PURCHASING ORGANIZATIONS ON DRUG SHORTAGES ChristianDeRoo ................................................227 AAA IA1 AMERICAN UNIVERSITY BLR BUSINESS LAW REVIEW The AMERICAN UNIVERSITY BusINEss LAW REVIEW is published three times a year by students of the Washington College of Law, American University, 4801 Massachusetts Avenue, N.W., Suite 615A, Washington, D.C. 20016. Manuscripts should be sent to the Executive Editor at the above listed address or electronically at [email protected]. The opinions expressed in articles herein are those of the signed authors and do not reflect the views of the Washington College of Law or the American University Business Law Review. All authors are requested and expected to disclose any economic or professional interests or affiliations that may have influenced positions taken or advocated in their articles, notes, comments, or other materials submitted. That such disclosures have been made is impliedly represented by each author. Subscription rate per year: $45.00 domestic, $50.00 foreign, $30.00 alumni, $20.00 single issue. Periodicals postage paid at Washington, D.C., and additional mailing offices. Office of Publication: 4801 Massachusetts Avenue, N.W., Suite 615A, Washington, D.C. 20016. Printing Office: Joe Christensen, Inc., 1540 Adams Street, Lincoln, Nebraska 68521. POSTMASTER: Send address changes to the AMERICAN UNIVERSITY BUSINEsS LAW REVIEW, 4801 Massachusetts Avenue, N.W., Suite 615A, Washington, D.C. 20016. Subscriptions are renewed automatically on expiration unless cancellation is requested. It is our policy that unless a claim is made for nonreceipt of the AMERICAN UNIVERSITY BUSINESS LAW REVIEW issues within six months of the mailing date, the American University Business Law Review cannot be held responsible for supplying those issues without charge. Citations conform generally to The Bluebook: A Unform System of Citation (19th ed. 2010). To be cited as: 3 AM. U. Bus. L. REV. American University Business Law Review Print ISSN 2168-6890 Online ISSN 2168-6904 0 Copyright 2014 American University Business Law Review AMERICAN UNIVERSITY BUSINESS LAW REVIEW VOLUME 3 - 2014 - ISSUE 1 ELIZABETH GRANT Editor-in-Chief KATHLEEN Hsu DANIEL FULLERTON Managing Editor Executive Editor THOMAS AHMADIFAR Associate ManagingEditor STEFANIE JONES DIANE GHRIST ERNIE C. JOLLY Senior Articles Editor JENNIFER SIMILE Senior Note & Comment Business & Marketing Editor Editors ELIZABETH HARRIS Symposium Editor Articles Editors Note & Comment Editors JONATHAN BROWN CHRISTIAN DEROO ARA ADEDUGBE JAIMIE BUCHBINDER SARA FALK CATHERINE BOURQUE ZACHARY DAVIS EMILY HETU Associate Articles Editors MONIKA MASTELLONE HEBA TELLAWI EMILY ROBERTS MICHELLE WINTERS JULIA SVINTSOVA SHENG ZHOU CHANG ZHOU Technical Editor Senior Staff JORDAN CAFRITZ JOSEPH GOLINKER ASHTON SIMMONS DARSHAN CHULANI DAVID HAN JEFF SIVEK SHERYL COZART JUSTIN HEMMINGS JASON SOKEL NATASHA DHILLON ALEX HERD WILLIAM STANLEY JESSICA DIPIETRO CHARLES HUANG LAURA TARABAN DESTINY FULLWOOD ZACHARY MASON CORINNE WARREN WILLIAM GENSCHOW BROOKE OLAUSSEN DAVIS YOFFE COREY GERSON NIVEDITA SATHIAKUMAR AVIE XU ZHAO Junior Staff LAURA ABOULHOSN AMANDA GRAMLICH ADDISON PIERCE ROBERTO ALBA BUSTAMANTE KAINE HAMPTON MARC POLLAK JASON BAILEY VESNA HARASIC EDUARDO RIVERO DORIAN BAKOGIANNIS DANIELLE HARTL KATHERINE ROSENBLATT SASHA BOSHART BREANNE HOKE LARA SAMUELS KENDRA CLARK CALEB JONES IYANA SMITH ANNA CLOETER HARINI KIDAMBI ANDREW STRAUSS HUNTER DEELEY BRANDON KINNARD JUHI TARIQ ELAINE DING KRISTIN LOCKHART RONNY VALDES CHARLES FRANK DYLAN MOONEY RYAN VAN OLST CHRISTOPHER J. FRISINA CAILE MORRIS STEPHEN WEISS ERIC GLEYSTEEN CHRISTOPHER O'MAHONEY DENISE WENGERT RENATO PtREZ Law Review Coordinator SHARON E. WOLFE 4~ L Li 4Q\ i~ I ~ / U 'r I ~ AMERICAN UNIVERSITY WASHINGTON COLLEGE OF LAW FACULTY Administration Claudio M. Grossman, B.A., J.D., Doctor of Science of Law, Dean Anthony E. Varona, A.B., J.D., LL.M., Associate Dean of Faculty and Academic Affairs Mary L. Clark, A.B., J.D., LL.M., Associate Dean ofFaculty and Academic Affairs David B, Jaffe, B.A., J.D., Associate Dean of Student Affairs Ruth Swanson, B.M., Associate Dean ofDevelopment and Alumni Relations *Billie Jo Kaufman, B.S., M.S., J.D., Associate Dean ofLibrary and Information Resources Robert D. Dinerstein, A.B., J.D., Associate Dean ofExperientialEducation and DirectorofClinical Programs Stephen 1. Vladeck, B.A., J.D., Associate Dean ofScholarship Khalid R. 0. Khalid, BA., M.A., Assistant Dean ofFinance and Administration Rebecca T. Davis, B.S., M.A.T, AssistantDean ofAcademic Services and Registrar D. Akira Shiroma, B.A., J.D., Assistant Dean ofAdmissions and FinancialAid Traci Mundy Jenkins, B.A., J.D., Assistant Dean for Career and ProfessionalDevelopment Lia Epperson, B.A., J.D., Director of the SJ.D. Program David Hunter, B.A., J.D., Directorof the InternationalLegal Studies Program Jamin B. Raskin, B.A., J.D., Directorof the Law and Government Program David E. Aaronson, B.A., M.A., Ph.D., Director of the Trial Advocacy Program Teresa Godwin Phelps, B.A., M.A., M.S.L, Ph.D., Director of the Legal Rhetoric Program Ann Shalleck, A.B., J.D., Directorof the Women and the Law Program Full-Time Faculty David E. Aaronson, B.A., M.A., Ph.D., The George Washington University; LL.B., Harvard University; LL.M., Georgetown University. B. J. Tennery Professor ofLaw and Directorofthe Trial Advocacy Program Evelyn G. Abravanel, A.B., J.D., Case Western Reserve University. Professor ofLaw Padideh Ala'i, B.A., University of Oregon; J.D., Harvard University. Professor of Law Jonas Anderson, B.S., University of Utah; J.D., Harvard University. Assistant Professor ofLaw *Kenneth Anderson, B.A., University of California-Los Angeles; J.D., Harvard University. Professor ofLaw Jonathan B. Baker, A.B., J.D., Harvard University; M.A., Ph.D., Stanford University. Professorof Law Susan D. Bennett, B.A., M.A., Yale University; J.D., Columbia University. ProfessorofLaw and Director ofthe Community & Economic Development Clinic Daniel Bradlow, B.A., University of Witwatersrand, South Africa; J.D., Northeastern University; LL.M., Georgetown University. ProfessorofLaw Pamela Bridgewater, B.S., Florida Agricultural and Mechanical University; J.D., Florida State University; LL.M., University of Wisconsin. ProfessorofLaw Barlow Burke Jr., A.B., Harvard University; LL.B., MCP, University of Pennsylvania; LL.M., S.J.D., Yale University. ProfessorofLaw and John S. Myers and Alvina Reckman Myers Scholar Susan D. Carle, A.B., Bryn Mawr College; J.D., Yale University. ProfessorofLaw Michael W. Carroll, A.B., University of Chicago; J.D., Georgetown University. Professor ofLaw and Directorofthe Programon InformationJustice and Intellectual Property David F. Chavkin, B.S., Michigan State University; J.D., University of California, Berkeley. Professor ofLaw Janie Chuang, B.A., Yale University; J.D., Harvard University. Associate ProfessorofLaw Mary Clark, A.B., Bryn Mawr College; J.D., Harvard University, LL.M., Georgetown University. Professor of Law and Associate Dean of Faculty and Academic Affairs Llezlie G. Coleman, BA., Dartmouth College; J.D., Columbia University. Assistant ProfessorofLaw Jorge Contreras, B.S.EE, B.A., Rice University; J.D., Harvard University. Associate ProfessorofLaw John B. Corr, B.A., M.A., John Carroll University; Ph.D., Kent State University; J.D., Georgetown University. ProfessorofLaw Jennifer Daskal, B.A., Brown University; M.A., Cambridge University; J.D., Harvard University. Assistant Professor ofLaw Angela Jordan Davis, B.A., Howard University; J.D., Harvard University. ProfessorofLaw Robert D. Dinerstein, A.B., Cornell University; J.D., Yale University. Professorof Law, Associate Dean of Experiential Education, and Directorof Clinical Programs N. Jeremi Duru, B.A., Brown University; M.P.P., J.D., Harvard University, ProfessorofLaw *Walter A. Effross, A.B., Princeton University; J.D., Harvard University. Professor ofLaw and Directorofthe Program on Counseling Electronic Commerce Entrepreneurs Lia Epperson, B.A., Harvard University; J.D., Stanford University. Associate
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