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Full-Text Articles in Law
Contesting Disclaimer-Of-Reliance Clauses By Efficiency, Free Will, And Conscience: Staving Off Caveat Emptor, Shelby D. Green
Contesting Disclaimer-Of-Reliance Clauses By Efficiency, Free Will, And Conscience: Staving Off Caveat Emptor, Shelby D. Green
Elisabeth Haub School of Law Faculty Publications
This Article hopes to make evident two trends seemingly in conflict. The first trend is toward raising the standards of probity and veridicality in contractual relations toward greater accountability and liability on market actors operating outside traditional bounds. The first is expressed by new rules that: require good faith and fair dealing between parties; ensure sellers are obligated to disclose material facts about a property otherwise unavailable to buyers; and make wrongdoing parties liable to non-parties who foreseeably relied on the wrongdoers' contractual undertakings. This trend promises to avert injury, achieve efficiency, and seems to accord with society's evolving notions …
Contract Law, Party Sophistication And The New Formalism, Meredith R. Miller
Contract Law, Party Sophistication And The New Formalism, Meredith R. Miller
Scholarly Works
With increasing frequency, courts are mentioning party sophistication as relevant to whether a contract has been formed, whether a contract is enforceable, how the contract should be interpreted, and even, in some instances, the determination of an appropriate remedy. Sophisticated parties are held to a different set of rules, grounded in freedom of contract. It is presumed that a sophisticated party was aware of what to bargain for and read (or should have read) and understood (or should have understood) the terms of a written agreement.
But, just what do courts mean when they call a contracting party “sophisticated”?
“Sophistication” …
Consumer Harm Acts? An Economic Analysis Of Private Actions Under State Consumer Protection Acts, Henry N. Butler, Jason S. Johnston
Consumer Harm Acts? An Economic Analysis Of Private Actions Under State Consumer Protection Acts, Henry N. Butler, Jason S. Johnston
Faculty Working Papers
State Consumer Protection Acts (CPAs) were adopted in the 1960s and 1970s to protect consumers from unfair and deceptive practices that would not be redressed but for the existence of the acts. In this sense, CPAs were designed to fill existing gaps in market, legal and regulatory protections of consumers. CPAs were designed to solve two simple economic problems: 1) individual consumers often do not have the incentive or means to pursue individual claims against mass marketers who engage in unfair and deceptive practices; and, 2) because of the difficulty of establishing elements of either common law fraud or breach …
Express Warranty As Contractual - The Need For A Clear Approach, Sidney Kwestel
Express Warranty As Contractual - The Need For A Clear Approach, Sidney Kwestel
Scholarly Works
No abstract provided.
Precontractual Reliance, Lucian A. Bebchuk, Omri Ben-Shahar
Precontractual Reliance, Lucian A. Bebchuk, Omri Ben-Shahar
Articles
During contractual negotiations, parties often make reliance expenditures that would increase the surplus should a contract be made. This paper analyzes decisions to invest in precontractual reliance under alternative legal regimes. Investments in reliance will be socially suboptimal in the absence of any precontractual liability-and will be socially excessive under strict liability for all reliance expenditures. Given the results for these polar cases, we focus on exploring how "intermediate"-liability rules could be best designed to induce efficient reliance decisions. One of our results indicates that the case for liability is shown to be stronger when a party retracts from terms …
Reconsidering The Reliance Interest, Christopher W. Frost
Reconsidering The Reliance Interest, Christopher W. Frost
Law Faculty Scholarly Articles
This essay discusses the place of Fuller and Perdue's The Reliance Interest in Contract Damages in the contracts classroom. After first describing my use of The Reliance Interest, I will set out what I consider to be the pedagogical benefits of beginning the course with remedies and the attractiveness of Fuller and Perdue's analytical model in conveying an understanding of the remedial structure. Next, I will discuss the views of critics Craswell, Kelly and Barnes. Finally, I will revisit the place of Fuller and Perdue's work in the contracts course in light of these criticisms.
Freedom From Reliance: A Contract Approach To Express Warranty, Sidney Kwestel
Freedom From Reliance: A Contract Approach To Express Warranty, Sidney Kwestel
Scholarly Works
No abstract provided.
Article Two Warranties In Commercial Transactions: An Update, Kathryn L. Moore, Debra L. Goetz, Douglas E. Perry, David S. Rabb
Article Two Warranties In Commercial Transactions: An Update, Kathryn L. Moore, Debra L. Goetz, Douglas E. Perry, David S. Rabb
Law Faculty Scholarly Articles
In 1978 the Cornell Law Review published a Special Project devoted to Article Two commercial warranties. Nine years have since elapsed, and we have decided to update and reassess this important area of the law. We have discovered that although judicial treatment of many aspects of Article Two warranty law has remained stable, in some instances the courts' treatment has progressed and in other instances it has become unclear. This Special Project is our attempt to assemble these changes, interpret the progress, and suggest new lines of analysis to clarify areas of conflict.