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Agency by analogy: a comment on odious debt.

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INTRODUCTION

This brief article focuses on how one might think about the phenomenon of odious debt from the standpoint of common-law agency. Though this analogy has its flaws, some useful insights can be gathered by examining the similarities and differences between the two doctrines, especially when contemplating the theory of liability in the sovereign context.

The odious debt phenomenon itself is well described in other literature. (1) Although aspects of agency doctrine appear to hold promise as solutions for odious debt incurred by a sovereign borrower, this promise may be offset by other agency doctrines. More generally, it is important to keep in mind ...

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