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The Return Of Bargain: An Economic Theory Of How Standard-Form Contracts Enable Cooperative Negotiation Between Businesses And Consumers, Jason Scott Johnston
The Return Of Bargain: An Economic Theory Of How Standard-Form Contracts Enable Cooperative Negotiation Between Businesses And Consumers, Jason Scott Johnston
Michigan Law Review
Among attorneys, judges, and legal academics, there is virtual consensus that the widespread use by business firms of standard-form contracts in their dealings with consumers has completely eliminated bargaining in consumer contracts. I believe that this perception is false, that rather than precluding bargaining and negotiation, standard-form contracts in fact facilitate bargaining and are a crucial instrument in the establishment and maintenance of cooperative relationships between firms and their customers. On this view, which I elaborate below, firms use clear and unconditional standard form contract terms not because they will insist upon those terms, but because they have given their …
"Contracting" For Credit, Ronald J. Mann
"Contracting" For Credit, Ronald J. Mann
Michigan Law Review
On a recent day, I used my credit cards in connection with a number of minor transactions. I made eight purchases, and I paid two credit card bills. I also discarded (without opening) three solicitations for new cards, balance transfer programs, or other similar offers to extend credit via a credit card. Statistics suggest that I am not atypical. U.S. consumers last year used credit cards in about 100 purchasing transactions per capita, with an average value of about $70. At the end of the year, Americans owed nearly $500 billion dollars, in the range of $1,800 for every man, …
Improvident Extension Of Credit As An Extension Of Unconscionability: Discover Bank V. Owens And A Debtor's Rights Against Credit Card Companies , Terri Rebecca Daniel
Improvident Extension Of Credit As An Extension Of Unconscionability: Discover Bank V. Owens And A Debtor's Rights Against Credit Card Companies , Terri Rebecca Daniel
Cleveland State Law Review
This Note will examine improvident extension of credit as an extension of unconscionability in consumer credit card lending. Part II of this Note will discuss the history and foundation of unconscionability. Part III will discuss the history and foundation of improvident extension of credit, as well as the many failed attempts to create a solution to the problem of improvident extension of credit in the United States. Part IV of this Note will analyze the current role of improvident lending in consumer credit and why no solution was reached in the 1970s. Part V will examine the increased need for …