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Articles 1 - 4 of 4
Full-Text Articles in Law
Protecting Reliance, Victor P. Goldberg
Protecting Reliance, Victor P. Goldberg
Faculty Scholarship
Reliance plays a central role in contract law and scholarship. One party relies on the other's promised performance, its statements, or its anticipated entry into a formal agreement. Saying that reliance is important, however, says nothing about what we should do about it. The focus of this Essay is on the many ways that parties choose to protect reliance. The relationship between what parties do and what contract doctrine cares about is tenuous at best. Contract performance takes place over time, and the nature of the parties 'future obligations can be deferred to take into account changing circumstances. Reliance matters …
Text And Context: Contract Interpretation As Contract Design, Ronald J. Gilson, Charles F. Sabel, Robert E. Scott
Text And Context: Contract Interpretation As Contract Design, Ronald J. Gilson, Charles F. Sabel, Robert E. Scott
Faculty Scholarship
Contract interpretation remains the most important source of commercial litigation and the most contentious area of contemporary contract doctrine and scholarship. Two polar positions have competed for dominance in contract interpretation. In a textualist regime, generalist courts cannot consider context; in a contextualist regime, they must. Underlying this dispute are contrary assumptions about the prototypical contract each interpretive style addresses. For modern textualists, contracts are bespoke, between legally sophisticated parties who embed as much or as little of the contractual context as they wish in an integrated writing and prefer to protect their choices against judicial interference by an interpretive …
The Future Of Many Contracts, Victor P. Goldberg
The Future Of Many Contracts, Victor P. Goldberg
Faculty Scholarship
Forty years ago, my former colleague, the late Ian Macneil, published an article entitled The Many Futures of Contracts. When I was asked to contribute to this symposium on what contract law might look like in 2025, the play on words was too good to resist. Professor Macneil developed the notion of "relational contracts," emphasizing the limits of classical contract law in dealing with long-term contractual relations. His work had a strong influence on scholarship, including my work. The notion that many contractual relationships are long-lived and require some form of adaptation as circumstances change and new information becomes available …
Contract Theory – Who Needs It?, Avery W. Katz
Contract Theory – Who Needs It?, Avery W. Katz
Faculty Scholarship
Philosophy is perfectly right in saying that life must be understood backward. But then one forgets the other clause – that it must be lived forward.
Soren Kierkegaard
Both law students and law teachers have traditionally been drawn to conceptual projects that attempt to systematize the field of contract law. The reasons for this are easy to see: the field is doctrinally complex, few beginning students have any substantial experience with the kinds of fact patterns that arise in the cases, and the law is a locus of contestation over fundamental issues of economic liberalism that go to the heart …