, eds.), surveys major issues arising in the economic analysis of contract law. It begins with an introductory discussion of … contracts. These areas include freedom of contract (i.e., the scope of private power to create binding obligations), formation … of contracts (both the procedural mechanics of exchange, and rules that govern pre-contractual behavior), contract …

Neoclassical economic theory seems to aptly characterize contract law’s essence. Contracts enable two parties to reach … the achievement of economic efficiency serves as contract law’s major goal. This article, however, examines an alternative … hypothesis, that contract law is about enforcing inefficient bargains in order to provide enough security to facilitate …

the parties to the contract. It will then turn to so-called 'secondary rules' of construction relating to exclusions for …

This paper develops a game-theoretic model of a contract between a creditor and a debtor where equilibrium depends on … the damage rule chosen for breach-of-contract situations, the use of impossibility-of-performance excuses and the level of … legal contract enforceability. We find that, under perfect legal enforceability, the different alternative damage rules …

This article makes a comparative examination of the widening spectrum of cases in which both tort law and contract law … an obligation that, on the one hand, is predicated on and arises from the contract, but, on the other hand, does not … this article is to propose general guidelines for either choosing between tort law and contract law when imposing non …

toward better deductive reasoning skills started by Professor Nyquist, this Article analyzes the most important contract …

A fundamental question of contract law is: What facts create the legal relationship called a contract (and hence create … consideration. There should thus be a clear distinction between these three elements. Contract law's generally accepted definition … resulting in confusion when analyzing contract formation. The author argues that at least for the purpose of using contract …

contract law, and what can be inferred about contract law, in the light of the requirement of remedial consistency, from the …

This chapter surveys major issues arising in the economic analysis of contract law. It begins with an introductory … law of contracts. These divisions include freedom of contract (the extent of private power to create binding obligations …), formation of contracts (the procedural mechanics of exchange, and the rules that govern pre-contractual behavior), contract …