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Full-Text Articles in Law
Commodification And Contract Formation: Placing The Consideration Doctrine On Stronger Foundations
Commodification And Contract Formation: Placing The Consideration Doctrine On Stronger Foundations
David Gamage
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 paper 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 …
Contract Law And Modern Economic Theory, Daniel A. Farber
Contract Law And Modern Economic Theory, Daniel A. Farber
Daniel A Farber
No abstract provided.
The Promise Principle And Contract Interpretation, Juliet P. Kostritsky
The Promise Principle And Contract Interpretation, Juliet P. Kostritsky
Juliet P Kostritsky
The promise principle and its roots in a certain type of morality of individual obligation, which play the central role in Charles Fried’s vision of Contract law, have importantly contributed to rescuing Contract law from absorption into Tort law and from the imposition of externally imposed standards that are collective in origin. It makes a mammoth contribution to alerting us to the tyranny of interference with individual self-determination. However, this essay questions whether a promise centered system derived from a moral philosophy of promising (without an observable and testable foundation in reality) and geared to internal individual obligation and duty …
Equipping The Garage Guys In Law, Gillian K. Hadfield
Equipping The Garage Guys In Law, Gillian K. Hadfield
Gillian K Hadfield
The twin structural changes of the last few decades—globalization and the emergence of a web-based platform for economic activity--have transformed the economic demand for law. The market for law, however, has struggled to keep up with these changes, showing few signs of the kind of innovation that we see in many other sectors of the new economy. Even our most sophisticated and innovative corporations report difficulty in finding lawyers with the kinds of risk-attuned and creative problem-solving skills that they need (Hadfield 2011). Some large corporate clients have gone so far as to refuse to hire new law firm associates, …
Cooperation Before Contract: The Law And Policy Of Expenses Incurred During Negotiations In Comparative Perspective, Luigi Russi
Cooperation Before Contract: The Law And Policy Of Expenses Incurred During Negotiations In Comparative Perspective, Luigi Russi
Luigi Russi
Pending negotiations for a contract, one party may begin to incur expenses in fulfilment of the proposed economic operation in anticipation of the finalisation of a formal contract, which is a common practice in many settings, from building and lease contracts to contracts for services in general. This book, therefore, focuses on controversies that may arise when an expected contract collapses after one party withdraws from negotiations, with an ensuing attempt to determine what liability, if any, the withdrawing party should face regarding expenses incurred by the other. The laws of England and Italy, along with several non-legislative codifications – …
Substance Or Mere Technique? A Precis On Good Faith Performance In England, France And Germany, Luigi Russi
Substance Or Mere Technique? A Precis On Good Faith Performance In England, France And Germany, Luigi Russi
Luigi Russi
This paper attempts to offer a concise discussion of good faith performance and other functionally equivalent doctrines in the laws of England, Germany and France. The study’s goal is that of appraising the consistency of existing differences. More specifically, of whether they relate merely to technique - not being paralleled by diverging final outcomes - or whether the rift is deeper and goes to the very substance of the approach to the solution of similar practical problems. For this purpose, the work first shows the close connection between good faith performance (of contractual obligations) and good faith enforcement (of contractual …
Fairness In Contractual Relations: An Economic-Oriented Understanding Of Good Faith Performance, Luigi Russi
Fairness In Contractual Relations: An Economic-Oriented Understanding Of Good Faith Performance, Luigi Russi
Luigi Russi
This is a derivative version of 'Can Good Faith Performance Be Unfair? An Economic Framework for Understanding the Problem', which appeared in the Whittier Law Review, vol. 29, 2008. In comparison to the version therein published, I have eliminated the mathematical appendix, and attempted to outline my reasoning exclusively in words, for it to be accessible to a wider readership.