From a legal perspective, a contract has the binding force of law between the parties, so that problems arise when the obligor fails to fulfill its obligations, breaking the principle "pacta sunt servanda" and creating an imbalance between the contracting parties, in relation to the other...

The compensation of claims and related liabilities is an institution consecrated by the French jurisprudence and it can operate without having met all the conditions set by the law for the legal compensation. This form of connection encountered in the field of obligation relationships in...

This paper analyzes the effects of different sequences of remedies on the incentives of sellers to invest in product quality and on the probability of contract termination. Despite ambitious efforts by the EU to harmonize national legislation, sales laws still differ significantly in Europe. The...

This paper discusses the goal conflict between social protection and economic growth as well as employment. Taking the German economy as an example for the large continental economies of Old Europe, it analyzes twenty mechanisms that affect the fundamentals of the economy negatively and imply...

This paper analyzes China's economic performance in the last 25 years and discusses its prospect for growth in the future. China has enjoyed high annual GDP growth rates of about ten percent in the last 25 years. Exports and investment were the two driving forces of the growth process. FDI plays...

This chapter surveys the theory of the public enforcement of law--the use of governmental agents (regulators, inspectors, tax auditors, police, prosecutors) to detect and to sanction violators of legal rules. The theoretical core of the analysis addresses the following basic questions: Should...

In this paper the author exposes an aproximation to what voluntary agreements as liberal mechanism of environmental policy constitute. He studies the environmental policy elements that take account for the elimination of State intervention in environmental policy for a managerial voluntary...

Common Law, as practiced around the world, permits what it doesn't prohibit. Compared to Roman Law practice, which prohibits what it doesn't permit, the Common Law makes economic innovation easy. Easy economic innovation, in turn, promotes rapid economic adaptation -- broad technological...

This paper summarizes Hayekian Law and Economics.

The purpose of this paper is to evaluate two new anti-merger instruments, innovation markets and unilateral effects, on the basis of economic theory and evidence. I first discuss how the economics of antitrust has developed over the years, with the intention of characterizing the intellectual...