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Contracts

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Articles 1 - 30 of 2052

Full-Text Articles in Law

Contracting Away The First Amendment?: When Courts Should Intervene In Nondisclosure Agreements, Abigail Stephens May 2020

Contracting Away The First Amendment?: When Courts Should Intervene In Nondisclosure Agreements, Abigail Stephens

William & Mary Bill of Rights Journal

No abstract provided.


Non-Transparent Pbm Cash Flows: Balancing Market Forces Under A Reluctant Legislative Regime, John Mcguinness Feb 2020

Non-Transparent Pbm Cash Flows: Balancing Market Forces Under A Reluctant Legislative Regime, John Mcguinness

William & Mary Business Law Review

No abstract provided.


Justifying Bad Deals, Tess Wilkinson-Ryan Feb 2020

Justifying Bad Deals, Tess Wilkinson-Ryan

Faculty Scholarship at Penn Law

In the past decade, psychological and behavioral studies have found that individual commitment to contracts persists beyond personal relationships and traditional promises. Even take-it-or-leave it consumer contracts get substantial deference from consumers — even when the terms are unenforceable, even when the assent is procedurally compromised, and even when the drafter is an impersonal commercial actor. Indeed, there is mounting evidence that people import the morality of promise into situations that might otherwise be described as predatory, exploitative, or coercive. The purpose of this Article is to propose a framework for understanding what seems to be widespread acceptance of regulation via ...


Transactional Scripts In Contract Stacks, Shaanan Cohney, David A. Hoffman Jan 2020

Transactional Scripts In Contract Stacks, Shaanan Cohney, David A. Hoffman

Faculty Scholarship at Penn Law

Deals accomplished through software persistently residing on computer networks—sometimes called smart contracts, but better termed transactional scripts—embody a potentially revolutionary contracting innovation. Ours is the first precise account in the legal literature of how such scripts are created, and when they produce errors of legal significance.

Scripts’ most celebrated use case is for transactions operating exclusively on public, permissionless, blockchains: such exchanges eliminate the need for trusted intermediaries and seem to permit parties to commit ex ante to automated performance. But public transactional scripts are costly both to develop and execute, with significant fees imposed for data storage ...


Who Owns The Law? Why We Must Restore Public Ownership Of Legal Publishing, Leslie A. Street, David R. Hansen Jan 2020

Who Owns The Law? Why We Must Restore Public Ownership Of Legal Publishing, Leslie A. Street, David R. Hansen

Journal of Intellectual Property Law

Each state has its own method for officially publishing the law. This article looks at the history of legal publishing for the fifty states before looking at how legal publishing even in moving to electronic publishing may not ensure public access to the law. The article addresses barriers to free access to the law in electronic publishing including copyright, contract law, and potentially, the Computer Fraud and Abuse Act. The article concludes with prescriptions for how different actors, including state governments, publishers, libraries, and others can ensure robust public access to the law moving forward.


Liability Of The Structural Engineer: Establishing, Quantifying, And Managing Risks, Justin Thomas Ittmann Jan 2020

Liability Of The Structural Engineer: Establishing, Quantifying, And Managing Risks, Justin Thomas Ittmann

LSU Doctoral Dissertations

Liability is an important topic to all practicing professionals—including practicing engineers. However, the topic of liability does not receive the necessary attention required relative to other professions. Further, engineers that desire to learn more about liability in relation to their practice do not have many university options within an engineering curriculum or from outside materials available to a non-legally trained engineer. The goal of the study is to provide a comprehensive overview of liability directed towards an intelligent practicing engineer, while avoiding unnecessary over-simplification of the material. This study initially provides an in depth survey of the legal standard ...


Interpreting Contracts In A Regulatory State, Aditi Bagchi Jan 2020

Interpreting Contracts In A Regulatory State, Aditi Bagchi

Faculty Scholarship

Some scholars would limit courts to the text of written agreements when interpreting contracts on the theory that parties meant what they said, and said what they meant. Other scholars would have courts take into account the factual context surrounding contract formation. Both sides of this debate assume that contract interpretation is largely limited to reconstructing contracting parties’ intentions.

This assumption is mistaken. Since the overturning of Lochner v New York, contracting parties no longer have exclusive authority over contracts. State authority to regulate contract came at the expense of unbridled private authority. A more limited conception of contracting parties ...


Promise, Agreement, Contract, Gregory Klass Jan 2020

Promise, Agreement, Contract, Gregory Klass

Georgetown Law Faculty Publications and Other Works

It is natural to wonder about contract law’s relationship to the morality of promises and agreements. This Chapter distinguishes two ways to conceive of that relationship. First, parties’ agreement-based moral obligations might figure into the explanation of contract law—into an account of its functions or justifications. Contract law might serve to enforce parties’ first-order performance obligations, to enforce second-order remedial obligations, to support the culture of making and keeping agreements more generally, or at least to do no harm to that culture or to people’s ability to act morally. Second, contract can be understood as the legal ...


The Paradox Of Contracting In Markets, Robert E. Scott Jan 2020

The Paradox Of Contracting In Markets, Robert E. Scott

Faculty Scholarship

Contract design that motivates parties to invest and trade more efficiently occurs primarily in thin markets characterized by bespoke, bilateral agreements between commercial parties. In that environment, the cost of producing each contract is relatively high. Those costs are justified by offsetting design improvements in contractual incentives. In contrast, more efficient production of contract terms occurs in thick, multilateral markets where parties can realize the scale advantages of standardization. In this environment, the cost of producing individual contracts is relatively low but at the offsetting cost of undermining contractual incentives. These very different trade-offs are dictated by changes in the ...


Lying And Cheating, Or Self-Help And Civil-Disobedience?, Aditi Bagchi Jan 2020

Lying And Cheating, Or Self-Help And Civil-Disobedience?, Aditi Bagchi

Faculty Scholarship

May poor sellers lie to rich buyers? This Article argues that, under limited circumstances, sellers may indeed have a license to lie about their goods. Where sellers are losers under unjust background institutions and they reasonably believe that buyers have more than they would under just institutions, lies that result in de minimum transfers can be regarded as a kind of self-help. More generally, what we owe each other in our interpersonal interactions depends on the institutional backdrop. Consumer contract law, including its enforcement regimes, should recognize the social and political contingency of sellers’ obligations to buyers. In other contexts ...


Contractual Communication, Lawrence B. Solum Nov 2019

Contractual Communication, Lawrence B. Solum

Georgetown Law Faculty Publications and Other Works

In this Response, I will investigate the foundations of both shared and unshared meaning in legal communication. Part I takes a step back from contractual communication and offers a preliminary sketch of a general model of legal communication; the sketch draws on speech act theory and the work of Paul Grice, extending and modifying many of the insights developed by Kar and Radin. Part II turns to contractual communication, differentiating distinct “situations of contractual communication” and interrogating Kar and Radin’s Shared Meaning Analysis. Part III interrogates Kar and Radin’s distinction between “contract” and “pseudo-contract.” The conclusion of the ...


One-Legged Contracting, Ian Ayres, Gregory Klass Nov 2019

One-Legged Contracting, Ian Ayres, Gregory Klass

Georgetown Law Faculty Publications and Other Works

This response to Robin Bradley Kar & Margaret Jane Radin, Pseudo-Contract and Shared Meaning Analysis, 132 Harv. L. Rev. 1135 (2019), makes three broad points. It criticizes as arbitrary and essentializing Kar and Radin’s insistence of shared meaning as the core of contracting. It argues that even if shared meaning were the sine qua non of contracting, their proposal fails to achieve it because it does not assure that the terms would be cooperatively communicated. And it argues that their proposed enforcement standard would in practice severely limit freedom of contract and likely reduce consumer welfare. There is a good ...


The Internet Of Bodies, Andrea M. Matwyshyn Oct 2019

The Internet Of Bodies, Andrea M. Matwyshyn

William & Mary Law Review

This Article introduces the ongoing progression of the Internet of Things (IoT) into the Internet of Bodies (IoB)—a network of human bodies whose integrity and functionality rely at least in part on the Internet and related technologies, such as artificial intelligence. IoB devices will evidence the same categories of legacy security flaws that have plagued IoT devices. However, unlike most IoT, IoB technologies will directly, physically harm human bodies—a set of harms courts, legislators, and regulators will deem worthy of legal redress. As such, IoB will herald the arrival of (some forms of) corporate software liability and a ...


Arbitration And The Federal Balance, Alyssa King Oct 2019

Arbitration And The Federal Balance, Alyssa King

Indiana Law Journal

Mandatory arbitration of statutory rights in contracts between parties of unequal bargaining power has drawn political attention at both the federal and state level. The importance of such reforms has only been heightened by the Supreme Court’s expansion of preemption under the FAA and of arbitral authority. This case law creates incentives for courts at all levels to prefer expansive readings of an arbitration clause. As attempts at federal regulation have stalled, state legislatures and regulatory agencies can expect to be subject to renewed focus. If state legislatures cannot easily limit arbitrability, an alternative is to try reforms that ...


Bitcoin: Order Without Law In The Digital Age, John O. Mcginnis, Kyle Roche Oct 2019

Bitcoin: Order Without Law In The Digital Age, John O. Mcginnis, Kyle Roche

Indiana Law Journal

Modern law makes currency a creature of the state and ultimately the value of its currency depends on the public’s trust in that state. While some nations are more capable than others at instilling public trust in the stability of their monetary institutions, it is nonetheless impossible for any legal system to make the pre-commitments necessary to completely isolate the governance of its money supply from political pressure. This proposition is true not only today, where nearly all government institutions manage their money supply in the form of central banking, but also true of past private banking regimes circulating ...


Reconsidering Contractual Consent: Why We Shouldn't Worry Too Much About Boilerplate And Other Puzzles, Nathan B. Oman Sep 2019

Reconsidering Contractual Consent: Why We Shouldn't Worry Too Much About Boilerplate And Other Puzzles, Nathan B. Oman

Nathan B. Oman

Our theoretical approaches to contract law have dramatically over-estimated the importance of voluntary consent. The central thesis of this article is that voluntary consent plays at best a secondary role in the normative justification of contract law. Rather, contract law should be seen as part of an evolutionary process of finding solutions to problems of social organization in markets. Like natural evolution, this process depends on variation and feedback. Unlike natural evolution, both the variation and the feedback mechanisms are products of human invention. On this theory, consent serves two roles in contract law. First, consent makes freedom of contract ...


Promise And Private Law, Nathan B. Oman Sep 2019

Promise And Private Law, Nathan B. Oman

Nathan B. Oman

This essay was part of a symposium on the thirtieth anniversary of the publication of Charles Fried's Contract as Promise and revisits Fried's theory in light of two developments in the private-law scholarship: the rise of corrective justice and civil-recourse theories. The structural features that motivate these theories-the bilateralism of damages and the private standing of plaintiffs-are both elements of the law of contracts that Contract as Promise sets out to explain. I begin with the issue of bilateralism. Remedies--in particular the defense of expectation damages--occupy much of Fried's attention in Contract as Promise, and he insists ...


Unity And Pluralism In Contract Law, Nathan B. Oman Sep 2019

Unity And Pluralism In Contract Law, Nathan B. Oman

Nathan B. Oman

No abstract provided.


The Need For A Law Of Church And Market, Nathan B. Oman Sep 2019

The Need For A Law Of Church And Market, Nathan B. Oman

Nathan B. Oman

This Essay uses Helfand and Richman’s fine article to raise the question of the law of church and market. In Part I, I argue that the question of religion’s proper relationship to the market is more than simply another aspect of the church-state debates. Rather, it is a topic deserving explicit reflection in its own right. In Part II, I argue that Helfand and Richman demonstrate the danger of creating the law of church and market by accident. Courts and legislators do this when they resolve questions religious commerce poses by applying legal theories developed without any thought ...


The Failure Of Economic Interpretations Of The Law Of Contact Damages, Nathan B. Oman Sep 2019

The Failure Of Economic Interpretations Of The Law Of Contact Damages, Nathan B. Oman

Nathan B. Oman

The law of contracts is complex but remarkably stable. What we lack is a widely accepted interpretation of that law as embodying a coherent set of normative choices. Some scholars have suggested that either economic efficiency or personal autonomy provide unifying principles of contract law. These two approaches, however, seem incommensurable, which suggests that we must reject at least one of them in order to have a coherent theory. This Article dissents from this view and has a simple thesis: Economic accounts of the current doctrine governing contract damages have failed, but efficiency arguments remain key to any adequate theory ...


Markets As A Moral Foundation For Contract Law, Nathan B. Oman Sep 2019

Markets As A Moral Foundation For Contract Law, Nathan B. Oman

Nathan B. Oman

No abstract provided.


Introductory Remarks: Contract Law And Morality, Nathan B. Oman Sep 2019

Introductory Remarks: Contract Law And Morality, Nathan B. Oman

Nathan B. Oman

No abstract provided.


Indiana And Doux Commerce, Nathan B. Oman Sep 2019

Indiana And Doux Commerce, Nathan B. Oman

Nathan B. Oman

No abstract provided.


Corporations And Autonomy Theories Of Contract: A Critique Of The New Lex Mercatoria, Nathan B. Oman Sep 2019

Corporations And Autonomy Theories Of Contract: A Critique Of The New Lex Mercatoria, Nathan B. Oman

Nathan B. Oman

One of the central problems of contracts jurisprudence is the conflict between autonomy theories of contract and efficiency theories of contract. One approach to solving this conflict is to argue that in the realm of contracts between corporations, autonomy theories have nothing to say because corporations are not real people with whose autonomy we need to be concerned. While apparently powerful, this argument ultimately fails because it implicitly assumes theories of the corporation at odds with economic theories of law. Economics, in turn, offers a vision of the firm that is quite hospitable to autonomy theories of contract. The failure ...


A Pragmatic Defense Of Contract Law, Nathan B. Oman Sep 2019

A Pragmatic Defense Of Contract Law, Nathan B. Oman

Nathan B. Oman

No abstract provided.


Is It Time For The Restatement Of Contracts, Fourth?, Peter A. Alces, Christopher Byrne Sep 2019

Is It Time For The Restatement Of Contracts, Fourth?, Peter A. Alces, Christopher Byrne

Christopher Byrne

No abstract provided.


Unintelligent Design In Contract, Peter A. Alces Sep 2019

Unintelligent Design In Contract, Peter A. Alces

Peter A. Alces

Scholars have expended considerable energy in the effort to "discover" a normative theory of Contract. This Article surveys that effort and concludes that something fundamental about Contract has been missed and has frustrated the search from the outset. Succinctly, Contract doctrine resists the neat formulation theory requires. Theorists' perspectives on Contract may be generalized as attempts to impute either deontology or consequentialism to the Contract law. Focusing largely on deontological constructions of Contract, this Article demonstrates the inconsistencies among the extant heuristics-promise, reliance, and transfer-and more importantly, the failure of any of those constructions to provide a coherent explanation of ...


They Can Do What!? Limitations On The Use Of Change-Of-Terms Clauses, Peter A. Alces, Michael M. Greenfield Sep 2019

They Can Do What!? Limitations On The Use Of Change-Of-Terms Clauses, Peter A. Alces, Michael M. Greenfield

Peter A. Alces

No abstract provided.


The Moral Impossibility Of Contract, Peter A. Alces Sep 2019

The Moral Impossibility Of Contract, Peter A. Alces

Peter A. Alces

No abstract provided.


Reinventing The Wheel, Marion W. Benfield Jr., Peter A. Alces Sep 2019

Reinventing The Wheel, Marion W. Benfield Jr., Peter A. Alces

Peter A. Alces

No abstract provided.