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The Role Of Remedies In The Relational Theory Of Contract: A Preliminary Inquiry, Dr. Yehuda Adar, Dr. Moshe Gelbard

Yehuda Adar Dr.

One of the leading contemporary theories of contract law is the relational theory. Notwithstanding its remarkable development since the foundational works of Macaulay and Macneil it would seem reasonably fair to maintain that this body of literature has generally neglected the discussion of legal remedies. Scholarly literature pertaining to the relational theory has typically focused on extra-legal or informal devices for the regulation of long-term contractual relations, such as: consensual adjustment of primary contractual arrangements in light of changing circumstances, informal incentives for performance and cooperation, the tendency to abstain from relying on formal rights and duties, and the frequent …