In his influential paper “Contracting Into Liability Rules: Intellectual Property Rights and Collective Rights … superiority of property over liability rules, since Merges demonstrated a seemingly critical asymmetry between the two. Merges … liability rule, but that we weren’t similarly stuck with an inefficiently-allocated property rule.The evidence Merges brought to …

. With a discussion of different treatments to the concurrent liability of contractual fraud and contract breach in theory … can maximize personal interests. In both theory and practice, there is no specific standard of valid verdict and judges …