In the early models of incomplete contract neither party used to invest in the subject matter of the contract; those … realize subsequent to a binding contract, a systematic analysis has been attempted to see - first, how the legal remedies can … role than that has been realized. Focus remains on the ex-ante design of the contract, which would serve as an implicit …

The following case study investigates the contract enforcement institutions that enable German customers to purchase … developments in the field of information and communication technology. Overall, the importance of formal contract law in …

"Rolling contracts" are one method of presenting standard forms to contracting parties, including consumers, who are … the focus of this paper. In a rolling contract, a purchaser orders goods and pays for them before seeing most of the terms … paper addresses the controversy over whether the new terms are part of the contract and enforceable against the purchaser …

The term “liberty of contract” is usually associated with the doctrine that the due process clause of the United States … free-market advocates embrace the liberty of contract doctrine because they are averse to State interference with private … market transactions. But the term is ironic because a contract is only legally binding if courts will enforce it. Since …

After a contract is signed, contracting partners may engage in opportunistic behavior that circumvents the original … contract). We use an incomplete contracts approach to show that the anticipation and observability of such behavior are … conditions for the optimality of incomplete contracts, a simple characterization of the second-best contract, and some …

This chapter surveys major issues arising in the economic analysis of contract law. It begins with an introductory … law of contracts. These divisions include freedom of contract (the extent of private power to create binding obligations …), formation of contracts (the procedural mechanics of exchange, and the rules that govern pre-contractual behavior), contract …

paradigm relation, i.e. a management contract. In this analysis we use MacNeil's norms model and we test in relation to twelve … unilateral and bilateral obligations of a standard management contract relation. We examine which norms and to what extent apply …

rigid property rules, intellectual property owners will contract into more flexible liability rules. A series of recent …

contract that specifies only a fixed quantity and a fixed per-unit price can induce efficient investment if marginal cost is … risk of breaching, the first best becomes attainable with a simple price-quantity contract. …