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Articles 1 - 18 of 18
Full-Text Articles in Law and Economics
An Ex-Ante View Of The Battle Of The Forms: Inducing Parties To Draft Reasonable Terms, Omri Ben-Shahar
An Ex-Ante View Of The Battle Of The Forms: Inducing Parties To Draft Reasonable Terms, Omri Ben-Shahar
Law & Economics Working Papers Archive: 2003-2009
This paper focuses on one type of ex-ante effect of the battle of the forms: the incentive to draft reasonable boilerplate terms. It argues that the experience with the battle-of-the-forms rule under the CISG reinforces what we already know, that existing legal solutions do not provide any incentive for the parties to draft reasonable forms. The paper suggests that the goal of inducing parties to draft reasonable terms can be significantly promoted by a third rule, a variant of the “best-shot” rule proposed by Victor Goldberg. Under the version labeled the “reasonable-shot” rule, the court would resolve the battle of …
Small Business And The False Dichotomies Of Contract Law, Larry Garvin
Small Business And The False Dichotomies Of Contract Law, Larry Garvin
The Ohio State University Moritz College of Law Working Paper Series
The article explores the classic consumer- merchant dichotomy from the vantage of small businesses. Using empirical data and the psychology, economics, and management literature, it shows that small businesses, treated like large businesses throughout most of contract and commercial law, in fact behave more like consumers. Small businesses lack the financial strength of large businesses. They generally lack the information gathering ability of large businesses. Finally, they generally are more prey to cognitive errors than are large businesses. As a result, small businesses lose in two ways. When they deal with consumers, they are presumed to have the power, information, …
Good Faith In The Cisg: Interpretation Problems In Article 7, Benedict C. Sheehy
Good Faith In The Cisg: Interpretation Problems In Article 7, Benedict C. Sheehy
ExpressO
ABSTRACT: This article examines the dispute concerning the meaning of Good Faith in the CISG. Although there are good reasons for arguing a more limited interpretation or more limited application of Good Faith, there are also good reasons for a broader approach. Regardless of the correct interpretation, however, practitioners and academics need to have a sense of where the actual jurisprudence is going. This article reviews every published case on Article 7 since its inception and concludes that while there is little to suggest a strong pattern is developing, a guided pattern while incorrect doctrinally is preferable to the current …
Credible Coercion, Oren Bar-Gill, Omri Ben-Shahar
Credible Coercion, Oren Bar-Gill, Omri Ben-Shahar
Law & Economics Working Papers Archive: 2003-2009
The ideal of individual liberty and autonomy requires that society provide relief against coercion. In the law, this requirement is often translated into rules that operate “post-coercion” to undo the legal consequences of acts and promises extracted under duress. This Article argues that these ex-post anti-duress measures, rather than helping the coerced party, might in fact hurt her. When coercion is credible—when a credible threat to inflict an even worse outcome underlies the surrender of the coerced party—ex post relief will only induce the strong party to execute the threatened outcome, to the detriment of the coerced party. Anti-duress relief …
Bargaining Or Biology? The History And Future Of Paternity Law And Parental Status, Katharine K. Baker
Bargaining Or Biology? The History And Future Of Paternity Law And Parental Status, Katharine K. Baker
Katharine K. Baker
In practice, paternity rulings are remarkably unimportant. With the exception of state welfare authorities pursuing mostly impoverished biological fathers, few paternity actions are brought, few mothers want to bring them and (even with state-sponsored pursuit) very few dollars get transferred to children as a result of them. In theory, however, paternity judgments are very and perniciously important because they keep alive the biological fatherhood ideal, an ideal that has never been reflected in law or fact and that is inconsistent with the emerging law of parental rights and responsibilities. This article challenges the biological fatherhood ideal and suggests that contract, …
"Agreeing To Disagree": Filling Gaps In Deliberately Incomplete Contracts, Omri Ben-Shahar
"Agreeing To Disagree": Filling Gaps In Deliberately Incomplete Contracts, Omri Ben-Shahar
Law & Economics Working Papers Archive: 2003-2009
This Article develops a new standard for gap filling in incomplete contracts. It focuses on an important class of situations in which parties leave their agreement deliberately incomplete, with the intent to further negotiate and resolve the remaining issues. In these situations, neither the traditional no-enforcement result nor the usual gap filling approaches accord with the parties’ partial consent. Instead, the Article develops the concept of pro-defendant gap-fillers, under which each party is granted an option to enforce the transaction supplemented with terms most favorable (within reason) to the other party. A deliberately incomplete contract with pro-defendant gap fillers transforms …
A Preliminary Analysis Of The Amendments To The Japanese Secured Transaction Law, Wei Zhang
A Preliminary Analysis Of The Amendments To The Japanese Secured Transaction Law, Wei Zhang
Wei Zhang
The collapse of the Japanese asset price bubble in the 90's left a record amount of non-performing loans in the nation's financial system. To tackle this unprecedented crisis, both legal scholars and practitioners in Japan advocated for a series of amendments to its secured transaction law to facilitate the enforcement of mortgages by banks. In this paper, based on the state of the post-bubble real estate finance market, I discussed the major drawbacks of the existing Japanese secured transaction system as it was applied in the real estate arena. I commented on the proposed material amendments to the Japanese secured …
On The Effectiveness Of The Restrictions Governing Life In A Common Interest Community: A Comparative Study Between American And Japanese Law (Japanese Version), Wei Zhang
Wei Zhang
No abstract provided.
On The Effectiveness Of The Restrictions Governing Life In A Common Interest Community: A Comparative Study Between American And Japanese Law (Chinese Version), Wei Zhang
Wei Zhang
In this article, I made a comparative study on the laws regulating the restrictions established by developers or among property owners in common interest communities in the U.S. and Japan, as well as the cultural and social backgrounds against which they are created. It appears that similar rules exist in both countries to combat excessive restrictions on life in common interest communities, although the American law treats the ex ante restrictions somewhat differently from the ex post ones. Using a law and economics perspective, I argue that such disparate treatments make good sense given the feasibility of internalizing the effects …
Algunas Consideraciones Sobre El Objeto Social Y La Resolución General 9/2004 De La Inspección General De Justicia, Martin Paolantonio
Algunas Consideraciones Sobre El Objeto Social Y La Resolución General 9/2004 De La Inspección General De Justicia, Martin Paolantonio
Martin Paolantonio
Crítica de la normativa de la autoridad de registro y su interpretación acerca del carácter preciso y determinado del objeto social y su vinculación con el capital de la sociedad
La Necesidad De Acotar El "Activismo" De La Inspección General De Justicia: El Caso "Jasler S.A.", Martin Paolantonio
La Necesidad De Acotar El "Activismo" De La Inspección General De Justicia: El Caso "Jasler S.A.", Martin Paolantonio
Martin Paolantonio
Aproximación crítica al rol del ente de registro de las sociedades y su pretensión de reglamentar las disposiciones de la ley de sociedades comerciales en exceso de sus atribuciones
La Restitución Del Bien Dado En Leasing En El Concurso Preventivo, Martin Paolantonio
La Restitución Del Bien Dado En Leasing En El Concurso Preventivo, Martin Paolantonio
Martin Paolantonio
Nota a un fallo vinculado con el secuestro y restitución de un bien dado en leasing cuando el tomador prestaba un servicio público
Las Garantías De Consistencia Patrimonial En La Compraventa De Acciones, Martin Paolantonio
Las Garantías De Consistencia Patrimonial En La Compraventa De Acciones, Martin Paolantonio
Martin Paolantonio
Análisis de las funciones y efectos de las cláusulas de garantía patrimonial en la compraventa de acciones, incluyendo su incumplimiento
The Economics Of Form And Substance In Contract Interpretation, Avery W. Katz
The Economics Of Form And Substance In Contract Interpretation, Avery W. Katz
Faculty Scholarship
For over a century, legal commentators have debated the relative merits of formal and substantive approaches to the interpretation of contracts; in recent years, the debate has increasingly been conducted in the language of the economic approach to contract law. While this new wave of scholarship has been relatively successful in relating the traditional debates over formalism to specific transactional and institutional problems such as imperfect information, it has been less productive in terms of generating useful legal or policy recommendations. This Essay proposes a different approach: one that focuses on private rather than public legal decisionmakers as its primary …
Contract Formation In Imperfect Markets: Should We Use Mediators In Deals?, Scott R. Peppet
Contract Formation In Imperfect Markets: Should We Use Mediators In Deals?, Scott R. Peppet
Publications
This Article asks a simple question: Could third-party mediators be helpful in deals, just as they are in disputes? This Article makes a theoretical argument for such interventions, but also presents preliminary empirical evidence suggesting that transactional mediation may already be taking place.
Where Does Creativity Come From? And Other Stories Of Copyright, Michael J. Madison
Where Does Creativity Come From? And Other Stories Of Copyright, Michael J. Madison
Articles
This Commentary on Lydia Pallas Loren, Untangling the Web of Music Copyrights, 53 Case W. Res. L. Rev. 673 (2003), observes that debates over a variety of copyright law issues can be - and in fact, often are - structured in narrative terms, rather than in terms of doctrine, policy, or empirical inquiry. I suggest a series of such narratives, each framed by a theme drawn from a feature film. The Commentary suggests that we should recognize more clearly the role of narrative in intellectual property discourse, and that intellectual property narratives should be examined critically.
Economic Organization In The Construction Industry: A Case Study Of Collaborative Production Under High Uncertainty, William A. Klein, Mitu Gulati
Economic Organization In The Construction Industry: A Case Study Of Collaborative Production Under High Uncertainty, William A. Klein, Mitu Gulati
Faculty Scholarship
No abstract provided.
The Law Of Duress And The Economics Of Credible Threats, Oren Bar-Gill, Omri Ben-Shahar
The Law Of Duress And The Economics Of Credible Threats, Oren Bar-Gill, Omri Ben-Shahar
Articles
This paper argues that enforcement of an agreement, reached under a threat to refrain from dealing, should be conditioned solely on the threat's credibility. When a credible threat exists, enforcement promotes social welfare and the threatened party's interests. If agreements backed by credible threats were not enforceable, the threatening party would not extort them and would instead refrain from deaing-to the threatened party's detriment. The doctrine of duress, which invalidates such agreements, hurts the coerced party. By denying enforcement when a credible threat exists, the duress doctrine precludes the threatened party from making the commitment necessary to reach agreement. Paradoxically, …