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Articles 1 - 12 of 12
Full-Text Articles in Legal Writing and Research
Consumer Preferences For Performance Defaults, Franklin G. Snyder, Ann M. Mirabito
Consumer Preferences For Performance Defaults, Franklin G. Snyder, Ann M. Mirabito
Michigan Business & Entrepreneurial Law Review
Commercial law in the United States is designed to facilitate private transactions, and thus to enforce the presumed intent of the parties, who generally are free to negotiate the terms they choose. But these contracts inevitably have gaps, both because the parties cannot anticipate every situation that might arise from their relationship, and because negotiation is not costless. When courts are faced with these gaps in a litigation context, they supply default terms to fill them. These defaults usually are set to reflect what courts believe similar parties would have agreed to if they had addressed the issue. These “majoritarian” …
Do Liquidated Damages Encourage Breach? A Psychological Experiment, Tess Wilkinson-Ryan
Do Liquidated Damages Encourage Breach? A Psychological Experiment, Tess Wilkinson-Ryan
Michigan Law Review
This Article offers experimental evidence that parties are more willing to exploit efficient-breach opportunities when the contract in question includes a liquidated-damages clause. Economists claim that the theory of efficient breach allows us to predict when parties will choose to breach a contract if the legal remedy for breach is expectation damages. However, the economic assumption of rational wealth-maximizing actors fails to capture important, shared, nonmonetary values and incentives that shape behavior in predictable ways. When interpersonal obligations are informal or underspecified, people act in accordance with shared community norms, like the moral norm of keeping promises. However, when sanctions …
Contract As Statute, Stephen J. Choi, G. Mitu Gulati
Contract As Statute, Stephen J. Choi, G. Mitu Gulati
Michigan Law Review
The traditional model of contract interpretation focuses on the "meeting of the minds." Parties agree on how to structure their respective obligations and rights and then specify their agreement in a written document. Gaps and ambiguities are inevitable. But where contract language exists for the point in contention and a dispute arises as to the meaning of this language, courts attempt to divine what the parties intended. Among the justifications for deferring to the intent of the parties is the assumption that parties know what is best for themselves. Deference also arguably furthers autonomy values. Not all contracts and contract …
Boilerplate Today: The Rise Of Modularity And The Waning Of Consent, Margaret Jane Radin
Boilerplate Today: The Rise Of Modularity And The Waning Of Consent, Margaret Jane Radin
Michigan Law Review
Thanks to the vision of Omri Ben-Shahar and the excellence of the scholars contributing to this symposium, students of the law of commercial exchange transactions will now understand how important and interesting, and indeed exciting, boilerplate really is. The various presentations are so rich that my assigned task of commentary cannot approach an adequate summation. Instead of attempting such a task, therefore, I will take up a slightly different one. My commentary will relate some of the ideas presented in the symposium to two themes that I think are significant for the groundwork of contract today: the growing modularity of …
Law And Regret, Eric A. Posner
Law And Regret, Eric A. Posner
Michigan Law Review
Professor Farnsworth's1 topic is what he calls the "law of regretted decisions," those laws "that apply when you change your mind and reverse a decision" (p. ix). One finds such laws across many doctrinal divisions. Contract law influences the decision to change one's mind about keeping a promise. Tort law influences the decision to change one's mind after starting to rescue another person. The law of wills influences the decision to change one's mind about the distribution of one's assets among heirs. Farnsworth believes there are general principles that underlie the law of regretted decisions. Although there are some "anomalies," …
The Richness Of Contract Theory, Randy E. Barnett
The Richness Of Contract Theory, Randy E. Barnett
Michigan Law Review
When I teach the doctrine of good faith performance, I assign an exchange between two distinguished contracts scholars, Robert Summers and Steven Burton, that has come to be known as the "Summers-Burton" debate. This debate is interesting not only for the contrasting views of its protagonists concerning the doctrine of good faith, but also because of the generational shift in modes of scholarship it represents. In the 1950s and 1960s, contracts scholars, like so many others, rejected so-called "conceptualist" or "formalist" approaches that attempted to dictate the outcome of cases with general concepts and rules. Contracts scholarship was dominated by …
Williston: A Treatise On The Law Of Contracts, Collins J. Seitz
Williston: A Treatise On The Law Of Contracts, Collins J. Seitz
Michigan Law Review
A Review of A Treatise on the Law of Contracts. By Samuel Williston.
Lawson: A Common Lawyer Looks At The Civil Law, F. S. C. Northrop
Lawson: A Common Lawyer Looks At The Civil Law, F. S. C. Northrop
Michigan Law Review
A Review of A Common Lawyer Looks at the Civil Law. By F. H. Lawson.
Jacobs: Law Writers And The Courts, Richard. A. Edwards
Jacobs: Law Writers And The Courts, Richard. A. Edwards
Michigan Law Review
A Review of Law Writers and the Courts. By Clyde E. Jacobs
Book Reviews, Burke Shartel, Grover C. Grismore, S C. Ho, S M. Ho, Evans Holbrook, Henry M. Bates
Book Reviews, Burke Shartel, Grover C. Grismore, S C. Ho, S M. Ho, Evans Holbrook, Henry M. Bates
Michigan Law Review
History of the San Francisco Committee of Vigilance of 1851. By Mary Floyd Williams. University of California Publications in History, Volume XII. "Berkeley: The University of California Press. 192I. Pp. xii, 543.
Some Greek Legal Papyri From The Michigan Collection, A Er Boak
Some Greek Legal Papyri From The Michigan Collection, A Er Boak
Michigan Law Review
The documents which form the subject of this paper are part of the Michigan Collection of Papyri recently acquired by Professor F. W. Kelsey in Egypt and secured for the University by the generosity of the Regents and certain friends and alumni, among the latter Mr. J. W. Anderson, of the Law Class of 189o. A large proportion of these documents are of a legal nature, and from these I have selected for translation four, which may be regarded as typical specimens of their respective classes.
Recent Important Decisions; Book Reviews, Edwin C. Goddard, John R. Rood
Recent Important Decisions; Book Reviews, Edwin C. Goddard, John R. Rood
Michigan Law Review
A collection of recent important court decisions and book reviews.