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Contract law does not adequately account for the harms that we can inflict on third parties by joint agreement. Some … ambiguous terms are to be construed “reasonably” accommodates this practice but does not invite it. Prevailing contract theory … is affirmatively hostile to it. This Article locates the role of contract law in mitigating concentrated negative …
Persistent link: https://www.econbiz.de/10014136812
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 …
Persistent link: https://www.econbiz.de/10012982495
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 …
Persistent link: https://www.econbiz.de/10013142191
Long and specific Contracts in the US and short and ambiguous contracts in Japan are a stereotypical comparison of the contracting practices in both countries. Such characteristics of written contracts are understood as sticky. Based on a semi-structured interview of Japanese auto and...
Persistent link: https://www.econbiz.de/10014356995
rigid property rules, intellectual property owners will contract into more flexible liability rules. A series of recent …
Persistent link: https://www.econbiz.de/10013249105
two economically equivalent contracts - a fixed-term renewable and an open-ended at-will contract. Each contract provides … partners with full flexibility regarding the length and termination of their interaction. When only one contract type is … contract type. However, when both contracts are available offering a fixed-term instead of an open-ended contract is perceived …
Persistent link: https://www.econbiz.de/10011893426
Market interactions are brought about by the interplay of entitlements and obligations. Entitlements are rights, as perceived by the individuals. They are subjectively perceived rights that go along with a motivational disposition to defend them. Obligations are the counterparts of entitlements....
Persistent link: https://www.econbiz.de/10011568557
determined by the principal's investment in drafting an explicit contract. The model is well suited for analyzing the …
Persistent link: https://www.econbiz.de/10014064957
The standard paradigm of contracting assumes that parties will revise subsequent contracts if a court interpretation of a clause does not reflect their intent. This assumption, however, often does not match behavior –- particularly in boilerplate contracts. We examine the aftermath of an...
Persistent link: https://www.econbiz.de/10012848046
capitalism is governed. As the governance of production shifts from vertical integration to horizontal contract, a puzzle arises … that firms govern their collaborations through a number of new contract mechanisms, the summation of which is a novel … complementary) explanation of how contract governs inter-firm networks, not by downplaying the importance of hold-ups or by …
Persistent link: https://www.econbiz.de/10012721209