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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
Book Review. When All Else Fails: Government As The Ultimate Risk Manager By David A. Moss, Ajay K. Mehrotra
Book Review. When All Else Fails: Government As The Ultimate Risk Manager By David A. Moss, Ajay K. Mehrotra
Articles by Maurer Faculty
No abstract provided.
Commodification And Contract Formation: Placing The Consideration Doctrine On Stronger Foundations, David Gamage, Allon Kedem
Commodification And Contract Formation: Placing The Consideration Doctrine On Stronger Foundations, David Gamage, Allon Kedem
Articles by Maurer Faculty
Under the traditional consideration doctrine, a promise is only legally enforceable if it is made in exchange for something of value. This doctrine lies at the heart of contract law, yet it lacks a sound theoretical justification a fact that has confounded generations of scholars and created a mess of case law.
This article argues that the failure of traditional justifications for the doctrine comes from two mistaken assumptions. First, previous scholars have assumed that anyone can back a promise with nominal consideration if they wish to do so. We show how social norms against commodification limit the availability of …