given period, after having observed her income, the agent can walk away from the contract, while the intermediary cannot, i … intermediaries. Insurance can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with … an intermediary. We then show that our contract economy is equivalent to a consumption-savings economy with one …

Art 6:104 provides, first and foremost, that a contract is not unenforceable for lack of certainty if the parties do …:106 — to ‘save' contracts in cases in which there is ‘no doubt that the parties intended to be bound by the contract'. While … orders differ with respect to what are considered essential elements without which a contract cannot ‘exist' and the degree …