The statement "trust but verify" seems self-contradictory, as "trust" means reliance without the need to verify. This paper discusses the use of this statement including by President Reagan and the possible origin of the statement. The paper concludes that the word "verify" limits or eliminates...

This Essay represents a version of a chapter in my forth coming book "Trust and Honesty, America's Business Culture at a Crossroad." In designing legal protection from breach of trust and deception lawyers and judges have not only used this branch of economics as an information source but also...

In Boomer v. Muir, a subcontractor on a hydroelectric project continued to provide goods and services even though the value of the performance far exceeded the contract price. The general contractor, who was receiving these goods and services, breached the contract even though he was paying less...