Contract interpretation and supplementation is conventionally conceived of as a multistage process, in which various sources, including express terms, course of performance, course of dealing, trade usages, default rules, and general standards of reasonableness, are sequentially resorted to. The...

Regulation of the content of standard-form contracts usually focuses on the invisible terms that customers hardly ever read. It does not refer to the price, because price is a salient component of the transaction, to which customers usually pay attention and sometimes even compare between...

This is a review of three new books on U.S. contract law and theory: Brian H. Bix, Contract Law: Rules, Theory, and Context (Cambridge 2012); Douglas G. Baird, Reconstructing Contracts (Harvard 2013); and Melvin A. Eisenberg, Foundational Principles of Contract Law (Oxford, forthcoming 2014)....