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Two risk-averse litigants with different subjective beliefs negotiate in the shadow of a pending trial. Through contingent contracts, the litigants can mitigate risk and/or speculate on the trial outcome. The opportunity for contingent contracting decreases the settlement rate and increases the...
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. With a discussion of different treatments to the concurrent liability of contractual fraud and contract breach in theory … can maximize personal interests. In both theory and practice, there is no specific standard of valid verdict and judges …
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