Restatement of the Law, the

Refers to a series of summaries of current United States’ law relating to various topics written by the American Law Institute (ALI.) The restatements are very influential with courts on the topics they cover, though they are not controlling. They are sometimes criticized for trying to influence the law rather than actually stating what settled law is and it is argued this reflects excessive influence by legal academics. As a result some US States will explicitly suggest that they follow an older version of a restatement rather than the current version. They will usually be referred to as “the Restatement of…” Restatements currently published by the ALI particularly relevant to international business and technology are the:

  • [Third] Restatement of the Law of Agency (2006)
  • [Second] Restatement of Conflict of Laws (1971)
  • [Second] Restatement of Contracts (1981)
  • [Second] Restatement of Judgments (1982)
  • [Third] Restatement of Restitution and Unjust Enrichment (2011)
  • [Third] Restatement of Suretyship and Guaranty (1996)
  • [Second] Restatement of Torts
  • [Third] Restatement of Torts, Apportionment of Liability (2000)
  • [Third] Restatement of Torts, Products Liability (1998)
  • [Third] Restatement of Trusts, Prudent Investor Rule (1992)
  • [Third] Restatement of Unfair Competition (1995)

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