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Contracts, sales/commercial paper, legal philosophy, bankruptcy, secured transactions, commercial law (sales), jurisprudence

Steven D. Walt

Percy Brown, Jr., Professor of Law
Class of 1948 Professor of Scholarly Research in Law

J.D., Yale Law School, 1988
Ph.D., University of Chicago, 1984
M.A., University of Chicago, 1978
B.A., Kalamazoo College, 1976

Steven D. Walt joined the faculty after visiting for one year as a professor of law from the University of San Diego. He teaches contracts, sales/commercial paper, legal philosophy, bankruptcy and secured transactions.

A cum laude graduate of Kalamazoo College, Walt holds an M.A. and Ph.D. in philosophy from the University of Chicago. He earned his J.D. from Yale in 1988 and was an associate professor at the University of San Diego for three years. He has received several academic awards, including a Whiting National Fellowship in the Humanities. In addition, he has been a visiting research scholar at Nuffield College, Oxford University, and an Amoco Foundation Term Assistant Professor of Legal Studies at the Wharton School. He is a member of the American Society for Political and Legal Philosophy.

Scholarship Profile: Jurisprudence at the Level of Legal Rules (Virginia Journal 2012)

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Working Papers:

"Pensions and Property Rights in Municipal Bankruptcy" (with Rich Hynes).

"Liquidated Damages After Behavioral Law and Economics."


Sales Law: Domestic and International: Cases, Problems, and Materials (Foundation Press, 2014).

Commercial Law
(with William D. Warren) (Foundation Press, 9th ed. 2013).

Payments and Credits (with William D. Warren) (Foundation Press, 9th ed. 2013).

Secured Transactions in Personal Property (with William D. Warren) (Foundation Press, 9th ed. 2013).

The UN Convention on Contracts for the International Sale of Goods: Practice and Theory (with Clayton P. Gillette) (LexisNexis, 2013).

Commercial Law
(with William D. Warren) (Foundation Press, 8th ed. 2011).

Payments and Credits (with William D. Warren) (Foundation Press, 8th ed. 2011).

Secured Transactions in Personal Property
(with William D. Warren) (Foundation Press, 8th ed. 2011).

Commercial Law
(with William D. Warren) (Foundation Press, 7th ed. 2007).

Payments and Credits (with William D. Warren) (Foundation Press, 7th ed. 2007; 6th ed. 2004 ).

Secured Transactions in Personal Property (with William D. Warren) (Foundation Press, 7th ed. 2007; 6th ed. 2004; 5th ed. 2000 ).

Commercial Law: Selected Statutes (with William D. Warren) (Foundation Press, 2006).

Commercial Law (with Robert L. Jordan & William D. Warren) (Foundation Press, 5th ed. 2000; 6th ed. 2004).

Sales Law: Domestic and International (with Clayton Gillette) (Foundation Press, 2d ed. 2002).

The Jurisprudential Foundations of Corporate and Commercial Law (ed. with J. Kraus) (Cambridge University Press, 2000).

Negotiable Instruments, Payments and Credits (with Robert L. Jordan & William D. Warren) (Foundation Press, 5th ed. 2000).

Book Chapters:

“Penalty Clauses and Liquidated Damages,” in Gerrit De Geest, ed., Contract Law and Economics 178 (Edward Elgar, 2d ed. 2011).

In Defense of the Incorporation Strategy” (with J. Kraus), in Kraus & Walt, eds., The Jurisprudential Foundations of Corporate and Commercial Law (Cambridge University Press, 2000).
SSRN Abstract

“Corporate Criminal Liability and the Comparative Mix of Sanctions” (with William S. Laufer), in Kip Schlegel & David Weisburd, eds., White Collar Crime Reconsidered 309 (Northeastern University Press, 1992).

“The Law and Psychology of Precedent” (with William S. Laufer), in D.K. Kagehiro & W.S. Laufer, eds., Handbook of Psychology and Law 39 (Springer-Verlag, 1992).


"The Modest Role of Good Faith in the CISG," Virginia Public Law and Legal Theory Research Paper No. 2014-08.

"Morality, Ontology, and Corporate Rights," L. & Ethics of Human Rights (forthcoming 2016) (with Micah Schwartzman).

“Pensions and Property Rights in Municipal Bankruptcy” (with Richard M. Hynes), 33 Rev. Banking & Fin. L. 609 (2014).

Why Jurisprudence Doesn’t Matter for Customary International Law, 54
Wm. & Mary L. Rev. 1023 (2013).
SSRN | HeinOnline (PDF)

"Before the Jurisprudential Turn: Corbin and the Mid-Century Opposition to Erie," 2 Wash. U. Juris. Rev. 75 (2010).
HeinOnline (PDF)

"Why Banks are Not Allowed in Bankruptcy" (with Richard M. Hynes), 67
Wash. & Lee L. Rev. 985 (2010).
HeinOnline (PDF)

“After Article 9: Security Interests and Bank Setoffs in Consumer Deposit Accounts,” 125 Banking L.J. 224 (2008).

"Uniformity and Diversity in Payment Systems" (with Clayton P. Gillette), 83 Chi.-Kent L. Rev. 499 (2008).
HeinOnline (PDF)

“Underestimation Bias and the Regulation of Secured Consumer Debt,” 40 UCC L.J. 169 (2007).

“Article 9’s New Threat to Securitization,” 2 J. Payment Systems L. 418 (2006).

“Eliminating Corrective Justice,” 92
Va. L. Rev. 1311 (2006).
HeinOnline (PDF)

“The State of Debate Over the Incorporation Strategy in Contract Law,” 39 UCC L.J. 49 (2006).

“The CISG’s Expansion Bias: A Comment on Franco Ferrari,” 25 Int’l Rev. L. & Econ. 342 (2005).

"When Are Insurance Payments Recoverable Proceeds under Revised Article 9?," 38 U.C.C. L.J. 159 (2005).

“Liquidated Damages Aafter Behavioral Law and Economics,” 6 Va. J. 98 (2003).

“Implementing CISG’s Scope Provisions: Validity and Three-Party Cases,” 35 UCC L.J. 43 (2002).

"Introduction: Privatization and its Prospects," 41
Va. J. Int’l L. 517 (2001).
HeinOnline (PDF)

"Collective Inaction and Investment: The Political Economy of Delay in Bankruptcy Reform," 49 Emory L.J. 1211 (2000).
HeinOnline (PDF)

“Decision by Division: The Contractarian Structure of Commercial Arbitration,” 51 Rutgers L. Rev. 369 (1999).
HeinOnline (PDF)

“Generosity in Bankruptcy: The New Place of Charitable Contributions in Fraudulent Conveyance Law,” 32 Loy. L.A. L. Rev. 1029 (1999).
HeinOnline (PDF)

“Novelty and the Risks of Uniform Sales Law,” 39 Va. J. Int'l L. 671 (1999).
HeinOnline (PDF)

"Erie and the Irrelevance of Legal Positivism"(with Jack L. Goldsmith), 84 Va. L. Rev. 673 (1998).
SSRN Abstract | HeinOnline (PDF)

“Revisiting Neth’s ‘The First to File Priority in Article 9: Can You Sell Your Place in Line?’ and Shanker’s Response,” 31 UCC L.J. 217 (1998).

“The Risks of Uniform Sales Law,” 4 Int'l Cont. Adviser 36 (1998).

“Selling Priorities,” 31
UCC L. J. 217 (1998).

"The Case for Laundered Security Interests," 63
Tenn. L. Rev. 369 (1996).
HeinOnline (PDF)

"Hart and the Claims of Analytic Jurisprudence," 15 Law & Phil. 387 (1996).

"Practical Reason and the Ontology of Statutes," 15 Law & Phil. 227 (1996).

"Contribution Arguments in Commercial Law" (with Emily L. Sherwin), 42
Emory L. J. 897 (1993).
HeinOnline (PDF)

"The Relation Between Competition and Cooperation," 15 Harv. J. L.& Pub. Pol'y 733 (1992).
HeinOnline (PDF)

"Why Personhood Doesn't Matter: Corporate Criminal Liability and Sanctions" (with William S. Laufer), 18 Am. J. Crim. L. 263 (1991).
HeinOnline (PDF)

"For Specific Performance under the United Nations Sales Convention," 26 Tex. Int’l L. J. 211 (1991).
HeinOnline (PDF)

"Expectations, Loss Distribution and Commercial Impracticability," 24 Ind. L. Rev. 65 (1990).
HeinOnline (PDF)

“Hegel on War: Another Look,” 10 Hist. Pol. Thought 113 (1989).

“Historical Materialism, Dispositions, and Functional Explanation,” 97 Ethics 196 (1986).

“Rationality and Explanation,” 94 Ethics 680 (1984).

“Comment on Steiner’s Liberal Theory of Exploitation,” 94 Ethics 242 (1984).

“A Note on Mandelbaum’s ‘G. A. Cohen’s Defense of Functional Explanation’,” 13 Phil. Soc. Sci. 483 (1983).

Book Reviews:

Review of Anthony J. Sebok, Legal Positivism in American Jurisprudence (1998), 20 Phil. in Rev. 79 (2000).

Review of Richard A. Epstein, Simple Rules for a Complex World (1995), 109 Ethics 193 (1998).

“Some Problems of Pragmatic Jurisprudence,” 70 Tex. L. Rev. 317 (1991) (reviewing Richard A. Posner, The Problems of Jurisprudence (1990)).

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    • Bankruptcy
    • Contracts
    • International Sales
    • Jurisprudence
    • Sales
    • Secured Transactions

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