Alumni Faculty

Article by Prof. Norman Silber and Alumnus Steven Stites ’13 Published in Virginia Law & Business Review

Norman I. Silber, Professor of Law

The article “Merchant Authorized Consumer Cash Substitutes,” written by Norman I. Silber, associate dean for research and faculty development and professor of law, and Hofstra Law alumnus Steven Stites ’13, attorney at Stites Law LLC, has been published in the Fall 2019 issue of the Virginia Law & Business Review (Vol. 14, No. 1).

Abstract
Merchant Authorized Consumer Cash Substitutes (MACCS) have existed in one form or another for hundreds of years although without a generic name. At nineteenth century American railroad construction sites far from established towns, companies paid employees with “scrip.” Coca Cola, beginning in 1887 issued “coupons” which entitled bearers to a glass of soda. About the same time the Standard Oil Company — a customer — demanded “rebates” from railroads who shipped its oil. Descendants of these merchant-created substitutes are the MACCS of today — phenomena including today’s “Penny-Saver Coupons,” “Groupons,” “Gift Cards,” “Disney Dollars,” “E-bates,” “Air Miles,” “Rewards Points,” and “cash-back offers.” There are countless tangible and virtual MACCS. The authors offer a functional definition in this initial approach to the subject. They explore the desirability for consumers and merchants of a unified and comprehensive treatment of this subject and recommend a new federal statute, or an Article of the Uniform Commercial Code which would address such matters as warranties, insolvency risks, deceptive and misleading practices, fungibility, frozen value, essential disclosures and privacy protection.

Latest Tweets

  • Watch Prof. @jamesjsample discuss articles of impeachment and the latest on the impeachment process with… https://t.co/dsiFA438ol
    about 13 hours ago
  • Prof. Fred Klein Presents to Nassau County District and County Court Judges on New Criminal Discovery Law in New Yo… https://t.co/0gnceVkLZQ
    about 1 day ago
  • Prof. Andrew Schepard Presents on Forensic Parenting Evaluations at 10th Judicial District 3rd Annual Matrimonial C… https://t.co/XEeEnJx6vh
    about 1 day ago
  • Prof. Norman Silber Presents on the ‘Revolt Against the Regulation of Philanthropy’ at 2019 ARNOVA Annual Conference https://t.co/eSw9yEQNHR
    about 1 day ago
  • Article by Prof. Norman Silber on Foreign Interference in National Elections Published in Northwestern University L… https://t.co/xh6W6WYZfP
    about 1 day ago
  • Watch Prof. @jamesjsample discuss the latest regarding the impeachment inquiry with @PIXScott on @PIX11News:… https://t.co/p3nyM9uoc1
    about 2 days ago

Archives