Law and Economics Commons^™

How To Repair Unconscionable Contracts, Omri Ben-Shahar

Law & Economics Working Papers Archive: 2003-2009

Several doctrines of contract law allow courts to strike down excessively one-sided terms. A large literature explored which terms should be viewed as excessive, but a related question is often ignored—what provision should replace the vacated excessive term? This paper begins by suggesting that there are three competing criteria for a replacement provision: (1) the most reasonable term; (2) a punitive term, strongly unfavorable to the overreaching party; and (3) the maximally tolerable term. The paper explores in depth the third criterion—the maximally tolerable term—under which the excessive term is reduced merely to the highest level that the law considers …

Los Efectos De La Revocabilidad Del Negocio Jurídico Testamentario En El Sistema Jurídico Peruano, Renzo E. Saavedra Velazco

Renzo E. Saavedra Velazco

En el presente artículo se aborda explicitamente el debate en torno a los efectos de la revocabilidad del negocio jurídico testamentario. A partir de ello, así como de la estructura de la revocación y del testamento, se hace patente el carácter sui generis del negocio de última voluntad.

Bribes V. Bombs: A Study In Coasean Warfare, Gideon Parchomovsky, Peter Siegelman

All Faculty Scholarship

The use of bribes to co-opt an enemy’s forces can be a more effective way to wage war than the conventional use of force: Relative to bombs, bribes can save lives and resources, and preserve civic institutions. This essay evaluates the efficacy and normative desirability of selectively substituting bribes for bombs as a means of warfare. We show how inter-country disparities in wealth, differences in military strength, the organization of the bribing and recipient forces, uncertainty about the outcome of the conflict, and communications technology can contribute to the efficacy of bribes. We discuss methods for enforcing bargains struck between …

Distributive Injustice And Private Law, Aditi Bagchi

All Faculty Scholarship

Imperfect rights are not held against any single person, and when violated, they do not ground a claim for any particular quantum of redress. The right to an adequate income may be an imperfect right. Because imperfect rights have been asserted only as claims against the state, and because they do not lend themselves to constitutional adjudication, they have had little traction. In my paper, I will emphasize that any claim on the state is derivative from the right held as against other citizens. Even those who believe that individuals have perfect social rights against the state should concede an …

Los Negocios Jurídicos Mortis Causa En El Sistema Jurídico Peruano: Los Contratos Mortis Causa Y Los Pactos Sucesorios, Renzo E. Saavedra Velazco

Renzo E. Saavedra Velazco

En el presente artículo se plantean las diferencias entre los mecanismos contractuales cuyos efectos se encuentran vínculados al evento muerte de un invididuo. Con ello se intenta evidenciar, por un lado, que no todo contrato mortis causa es un pacto sucesorio y, por otro lado, que algunos de ellos se erigen como alternativas al testamento. Todo ello importará una reconfiguración de ciertas categorías negociales consideradas institucionales.

La Cesión De Derechos En El Código Civil Peruano, Edward Ivan Cueva

Edward Ivan Cueva

La Cesión de Derechos en el Código Civil Peruano

The Failure Of Economic Interpretations Of The Law Of Contract Damages, Nathan B. Oman

Washington and Lee Law Review

The law of contracts is complex but remarkably stable. What we lack is a widely accepted interpretation of that law as embodying a coherent set of normative choices. Some scholars have suggested that either economic efficiency or personal autonomy provide unifying principles of contract law. These two approaches, however, seem incommensurable, which suggests that we must reject at least one of them in order to have a coherent theory. This Article dissents from this view and has a simple thesis: Economic accounts of the current doctrine governing contract damages have failed, but efficiency arguments remain key to any adequate theory …

Segundo Congreso Nacional De Organismos Públicos Autónomos, Bruno L. Costantini García

Bruno L. Costantini García

Memorias del Segundo Congreso Nacional de Organismos Públicos Autónomos. "Autonomía, Profesionalización, Control y Transparencia"

Algunos Apuntes En Torno A La Prescripción Extintiva Y La Caducidad, Edward Ivan Cueva

Edward Ivan Cueva

No abstract provided.

The Hidden Harm Of Law And Economics, Daniel I A Cohen

ExpressO

The paper deals with the adverse psychodynamic consequences to an individual and to society, immediately and in the long run, of dissolving individual responsibility for fault as in the doctrine of Law and economics.

La Buena Fe En La Negociación De Los Contratos: Apuntes Comparatísticos Sobre El Artículo 1362 Del Código Civil Peruano Y Su Presunto Papel Como Fundamento De La Responsabilidad Precontractual (2004), Leysser L. Leon

Leysser L. León

En este artículo, se efectúa un análisis histórico y comparativo de la responsabilidad civil por daños ocasionados durante los tratos previos al contrato.

A propósito, se demuestra, con los mismos instrumentos metodológicos, por qué las cláusulas normativas generales (Generalklauseln) son inapropiadas en ordenamientos jurídicos como el peruano, y por qué son aplicables a esta hipótesis de ilícito civil las reglas de la responsabilidad aquiliana o extracontractual (artículo 1969º del Código Civil peruano).

¿Deben Los Administradores Impugnar Las Resoluciones Asamblearias Inválidas?, Martin Paolantonio

Martin Paolantonio

Un análisis crítico de la afirmación, común en parte de la doctrina argentina, de la existencia de un deber de los administradores de impugnar resoluciones asamblearias inválidas

Intereses Punitorios En El Fuero Comercial, Martin Paolantonio

Martin Paolantonio

Breve reflexión sobre los problemas derivados de la desaparición de la tasa de interés judicial de referencia para las deudas en dólares luego de 2002

La Conexidad Contractual En El Sistema De Tarjetas De Crédito: Los Arts. 43 Y 45 De La Ley 25.065, Martin Paolantonio

Martin Paolantonio

Análisis de las reglas de -limitada- conexidad contractual en la ley 25.065 y su interpretación a la luz de las reglas de tutela del consumidor

La Compensación Y Las Entidades Financieras Suspendidas En Un Fallo De La Corte Suprema, Martin Paolantonio

Martin Paolantonio

Nota a fallo de la Corte Suprema rechazando la posibilidad de compensar deudas contra una entidad financiera primero suspendida y luego insolvente

Obligaciones Negociables, Pesificación Y Esfuerzo Compartido, Martin Paolantonio

Martin Paolantonio

Análisis en nota a fallo de la aplicación de la normativa de emergencia (pesificación) a obligaciones negociables y efectos respecto de un acuerdo preventivo homologado

Orden Público, Pesificación Y Letras De Cambio Internacionales, Martin Paolantonio

Martin Paolantonio

Nota a fallo de la Corte Suprema sobre la aplicación de la legislación de emergencia y el concepto de orden público internacional como limitación a la aplicación del derecho extranjero

Una Nueva Manipulación De Los Ahorros Previsionales, Martin Paolantonio

Martin Paolantonio

Breve reflexión crítica respecto del redireccionamiento de los ahorros previsionales limitando las inversiones en el extranjero

Comment: On Contractual Defaults And Experimental Law And Economics, Avishalom Tor

Journal Articles

It is possible that contract default rules, whose relevance is contingent upon parties' agreement to contract, differ from other default states. Parties therefore might not perceive contingent contractual defaults as relevant reference points. Ironically, however, Sloof, Oosterbeek and Sonnemans' (SOS) "default contract" applied inevitably whenever proposed and whenever Respondents rejected a non-default proposal, bearing greater resemblance to a legal right than to a contractual default. Thus, the contingency of typical contractual defaults cannot account for the No Bias Finding. Other aspects of the SOS experimental design, on the other hand, may explain the No Bias Finding.

Transactional Economics: Victor Goldberg's Framing Contract Law, Mark P. Gergen, Victor P. Goldberg, Stewart Macaulay, Keith A. Rowley

Faculty Scholarship

Professor Mark Gergen: Thank you. It is an honor to speak to this group and to be on a panel with Stewart Macaulay, Keith Rowley, and Victor Goldberg. I have an enormous amount of respect for the three. Keith had the misfortune of being a student of mine in Federal Income Tax.

Framing Contract Law offers a wealth of information about familiar cases. Victor argues that in construing contracts, courts should be attentive to how people engineer contracts to minimize transaction costs. He shows that courts often err in this regard, imposing unnecessary costs. To make his case, Victor delves …

Lawyers Asleep At The Wheel? The Gm-Fisher Body Contract, Victor P. Goldberg

Faculty Scholarship

In the analysis of vertical integration by contract versus ownership one event has dominated the discussion – General Motors' merger with Fisher Body in 1926. The debates have all been premised on the assumption that the ten-year contract between the parties signed in 1919 was a legally enforceable agreement. However, it was not. Because Fisher's promise was illusory the contract lacked consideration. This note suggests that GM's counsel must have known this. It raises a significant question in transactional engineering: what is the function of an agreement that is not legally enforceable.

La Cláusula "No A La Orden" En El Pagaré Y El Cheque. A Propósito De Las Modificaciones De Los Decretos 1387/2001 Y 386/2003, Martin Paolantonio, Pablo Legón

Martin Paolantonio

Análisis de la cláusula no a la orden en el pagaré y el cheque, considerando la posibilidad de endoso y sus efectos en virtud del decreto 1387/2001 y 386/2003