THURSDAY, AUGUST 16, 1984
+HOWEVER IN RECENT TIMES THERE HAVE BEEN A SPATE OF UNFORTUNATE COLLAPSES OF DEPOSIT TAKING COMPANIES AND OTHER CORPORATE FAILURES, SOME OF WHICH HAVE INVOLVED COMPLICATED COMMERCIAL CRIMES.
-PROSECUTIONS OF THESE CRIMES MAY REQUIRE INTRICATE UNDERSTANDING OF PARTICULAR COMMODITY MARKETS, BANKING, INSURANCE AND IN NEARLY ALL CASES DEALINGS BETWEEN MANY COMPANIES INVOLVING SHARES AND OTHER ASSETS. THESE ASSETS WILL OFTEN BE HIDDEN, OVER-VALUED OR UNDER-VALUED AND PRESENT A RIDDLE EVEN TO SKILLED ACCOUNTANTS. ON TOP OF ALL THIS,
ON TOP OF ALL THIS, THERE MAY BE ADDED ELEMENTS OF INTERNATIONAL DEALINGS WHICH COMPLICATE AN ALREADY COMPLEX STATE OF AFFAIRS.
+ORDINARY BUSINESS PRACTICES MAY PRESENT THE MAN IN THE STREET WITH TRANSACTIONS THAT ARE DIFFICULT TO FOLLOW AND TO UNDERSTAND. WHEN THESE PRACTICES HAVE BEEN EXPLOITED BY A DISHONEST BUSINESSMAN, HE WILL HIDE THEM BEHIND A SEEMINGLY RESPECTABLE FRONT IN ORDER TO DEFRAUD OTHER BUSINESSMEN AND THE IR ADVISERS. IN SUCH A CASE, THE ISSUES INVOLVED IN THE PROSECUTION OF THAT PERSON BECOME SO MUCH MORE HARD TO UNRAVEL AND SO MUCH MORE DIFFICULT FOR THE ORDINARY MAN IN THE STREET TO UNDERSTAND. IT WILL ALSO TAKE UP A LOT OF HIS TIME IF HE FINDS HIMSELF A MEMBER OF A JURY AT THE TRIAL OF A COMPLICATED FRAUD.
+THOSE WHO ADVOCATE THE USE OF JURIES IN SUCH CASES SAY THAT WITH CAREFUL HANDLING, THROUGH THE EXERCISE OF PROPER SKILL AND CARE BY COUNSEL AND THE JUDGE AND THE EXPLANATION BY EXPERT WITNESSES. THE MAN IN THE STREET WILL BE ABLE TO GRASP THE COMPLEXITIES AND FIND HIS WAY THROUGH A MAZE OF TRANSACTIONS. EVERYDAY EXPERIENCE CALLS THIS INTO QUESTION. APART FROM THE INHERENT DIFFICULTIES OF THE TASK OF JURIES, THERE IS SOME EVIDENCE THAT WHEN A PERSON DISCUSSES AN UNFAMILIAR TOPIC HIS CONCENTRATION SPAN IS LESS THAN AN HOUR. THE TRIALS I AM DESCRIBING WILL GO ON DAY AFTER DAY FOR SEVERAL MONTHS AFTER WHICH A JUROR IS EXPECTED TO REACH A REASONABLE VERDICT. MANY OF US THINK THAT IT IS TOO HEAVY A BURDEN TO PLACE UPON THE ORDINARY JUROR.
+FOR THESE REASONS, WHICH ARE ARGUED IN GREATER DETAIL IN THE PAPER, I HAVE DECIDED TO RELEASE A DISCUSSION DOCUMENT WHICH OUTLINES THE OPTIONS AS I SEE THEM. THE OPTIONS CONSIDERED IN THE PAPER ARE TO REPLACE THE JUDGE AND JURY TRIAL IN THIS SPECIAL LIMITED CATEGORY OF TRIALS WITH -
A) TRIAL BY A JUDGE SITTING ALONE; OR
B) TRIAL BY A JUDGE AND A JURY COMPOSED
OF BUSINESSMEN (A SPECIAL JURY); OR
C) TRIAL BY A JUDGE AND ADVISORY
ASSESSORS; OR
D) TRIAL BY A JUDGE AND COMMERCIAL
ADJUDICATORS.
/+THE PAPER
No comments yet.
Private notes are available after approval.