March 21, 2008

According to an article noted by the WSJ law blog, eight of ten top British law firms are now accepting outside investors' money to finance litigation, a practice punishable at common law as champerty until recent rules changes. The WSJ law blog talks to American legal ethics profs Monroe Freedman (Hofstra) and Deborah Rhode (Stanford), both of whom predictably applaud the development and hope it sets an example for the U.S. A contrasting piece of advice would be one I've heard attributed to Chesterton: don't tear down a fence until you're sure you understand why it was erected in the first place.