Contracts Commons^™

Epstein And Levmore: Objections From The Right?, Emily Sherwin, Maimon Schwarzschild

Cornell Law Faculty Publications

No abstract provided.

Contribution Arguments In Commercial Law, Steven Walt, Emily Sherwin

Cornell Law Faculty Publications

No abstract provided.

A Coasean Experiment On Contract Presumptions, Stewart J. Schwab

Cornell Law Faculty Publications

Despite the theoretical importance of the Coase Theorem, scholars have given surprisingly little attention to verifying its predictions empirically. Supporters often accept the theorem as dogma, while armchair critics assail its assumptions. In an exciting series of recent articles, however, Elizabeth Hoffman and Matthew Spitzer have presented experimental evidence, as have others, that largely supports the Coasean prediction that bargainers will negotiate around inefficient property rights to reach a Pareto-optimal solution. The methodology has even gained sufficient attention to have its detractors.

The existing experiments analyze the results of bargains when one side has the power to impose unilaterally one …

The Case Of The Unwary Home Buyer: The Housing Merchant Did It, E. F. Roberts

Cornell Law Faculty Publications

The author points up the decline of caveat emptor as a viable doctrine governing the sale of new homes and analyzes the emergence of implied warranty as a remedy for both structural deficiencies and personal injuries. He argues that the concept of implied warranty tends to obfuscate real distinctions between the builder-vendor’s responsibility for the material integrity of a new home and for personal injuries occasioned by defects therein, concluding that legislation is needed to reestablish a system of order in the law.