Time to abandon use of terms 'reliance interest', 'reliance loss' and 'reliance damages' from language of law relating to damages for breach of contract - terms misleading in attempts to provide a readily comprehensible account of the law - can lead to unnecessarily complicated reasoning in...

Recent theoretical research has identified many ways how contracts can be used as rent seeking devices vis-à-vis third parties, but there is no empirical evidence on this issue so far. To test some basic qualitative properties of this literature, we develop a theoretical and empirical framework...