Contract law and the economics of contract have, for the most part, developed independently of each other. In this … essay, we briefly review the notion of a contract from the perspective of lawyer, and then use this framework to organize … the economics literature on contract. The title, Contracts between Legal Persons, limits the review to that part of …

recourses. Within this apparent variety lurk two fundamental alternatives. The aggrieved party may (i) 'affirm' the contract and … seek money damages or specific performance; or (ii) 'disaffirm' the contract with the remedy of rescission and restitution …. This simple dichotomy of contract remedies applies broadly in both common law and civil law practice. We show here that …

If a seller delivers a good non-conforming to contract, European and US warranty law allows consumers to choose between … use non-conformity as a pretext for getting rid of a contract he no longer wants. We show that this possibility of …

The majority of American jurisdictions do not allow punitive damages for breach of contract unless the breach … a different rule — one allowing punitive damages for any willful breach of contract.Willful breaches fall into two …

The strict liability rule applies in Chinese Contract Law. This article analyses the features of the Chinese Contract … Law relating to "liabilities under pre-contract" and "pre-contractual liabilities" …

in piece meal applications) to the study of contract law. As a positive matter, this introduction reveals three … understudied areas: (i) when the equilibrium contract is individually rational but collectively irrational; (ii) the role of courts …, incorporating GET and MD insights into the study of contract law supports broad freedom of contract and formalist interpretative …

Under common law, the standard remedy for breach of contract is expectation damages. Under continental law, the …

contract away their right to an injunction when it is efficient for them to do so. The result was to cement for many the … bear in his path-breaking article is extremely important. But it is incomplete. True, parties can contract around … inefficient property rules in IP cases. But as I show in this paper, they can - and do - contract around inefficient liability …