Contract compliance is key for economic growth. However, determinants affecting contract breach are not yet well understood. In this paper, we focus on contract situations with a potential hold-up problem, such as contract farming agreements which are prevalent in many developing countries. We...

A setting of reliance investments is explored where one of the parties to a contract obtains private information concerning his utility or cost function that remains hidden to the other party and to courts. As a consequence, it will be a difficult task to award expectation damages corrrectly to...

We consider a bilateral trading problem in which one or both parties makes relationship-specific investments before trade. Without adequate contractual protection, the prospect of later holdups discourages investment. We postulate that the parties can sign noncontingent contracts prior to...

The law stabilizes transactional relations by protecting the implicit expectations of the parties to contracts by various techniques including the imposition of mandatory and supplementary rules. The established pattern in the contract of employment of the protection of expectations of...

The past 20 years or so have witnessed an increase in writings and publications from African settings. This is good news especially based on the belief that Africans have historically never been perceived as passionate about writing – let alone reading any material. However, what is still less...