We discuss a principal-agent model in which the principal has the opportunity to include a non-compete agreement in the employment contract. We show that not imposing such an agreement can be beneficial for the principal as the possibility to leave the firm generates implicit incentives for the...

Businesses and sophisticated parties have long used “contract exchanges,” like the Chicago Board of Trade, to obtain a fair price and protect themselves from market volatility. These contract exchanges have greatly benefitted both their participants and the public at large, but participation...

This article examines the leading principles governing interpretation of written contracts under English law. This is a comprehensive and incisive analysis of the current law and of the relevant doctrines, including the equitable principles of rectification, as well as the powers of appeal...

This article points out that procurement law is likely to have the side effect of hindering the development of IPPP contracts by introducing uncertainties regarding IPPP contracts´ classification for the purpose of its procurement. Keeping in mind the Commission´s policy of promoting IPPP...

In liability lawsuits (e.g. patent infringement) a plaintiff demands compensation from a defendant and the parties often negotiate a settlement to avoid a costly trial. Liability insurance creates bargaining leverage for the defendant in this settlement negotiation. We study the characteristics...

In "The Dignity of Commerce", Nathan Oman sets out an ambitious market theory of contract, which he argues is a superior normative foundation for contract law than either the moralist or economic justifications that currently dominate contract theory. In doing so, he sets out a robust defense of...

The COVID-19 pandemic of 2020—as well as government orders to contain it—has prevented countless people, babysitters to basketball players, from fulfilling their contracts. Are all of these parties legally liable for breaching their contracts? Or are they excused due to this extraordinary...

This article will examine the basic nature of our public system of dispute resolution and consider what role, if any, there is for private contracts that alter that system. This article will begin by tracing the evolution of PLAs from their initial disfavorment by courts to their wide spread...

The European Commission has proposed a directive on ‘preventive restructuring frameworks' for financially distressed firms. I demonstrate that the proposal is flawed because it creates a refuge for failing firms that should be liquidated, because it rules out going concern sales for viable...