The Application Of The Theory Of Efficient Breach In Contract Law PDF Download
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Author | : Wenqing Liao |
Publisher | : |
Total Pages | : 347 |
Release | : 2014 |
Genre | : Breach of contract |
ISBN | : 9781780685489 |
Download The Application of the Theory of Efficient Breach in Contract Law Book in PDF, ePub and Kindle
Author | : Wenqing Liao |
Publisher | : Ius Commune: European and Comparative Law Series |
Total Pages | : 0 |
Release | : 2015 |
Genre | : Breach of contract |
ISBN | : 9781780683560 |
Download The Application of the Theory of Efficient Breach in Contract Law Book in PDF, ePub and Kindle
This book analyses the theory of efficient breach in English sales law, European Union contract law and Chinese contract law. It analyses the framework of the efficient breach theory and reconsiders the implications of this theory. According to the traditional efficient breach theory, the remedy of expectation damages is able to motivate efficient breach, which brings the breaching party economic surplus without making the non-breaching party worse off. The essential problems are how to motivate contract parties to make rational decisions and how to solve cases where performance of a contract turns out to be less efficient after its conclusion. The second part of the book further extends the efficient breach theory to the study of contract law systems by analysing how exactly those laws react to breach and what solutions are adopted by them. The comparison of these three systems is more than a mere description of the differences and similarities in the content. More importantly, this comparative research also analyses whether or not the differences between these systems will influence the level of efficiency produced by each legal system by taking account of the different traditions and the concepts of contracts involved in each legal system. Researchers in contract law will also be interested in this approach, particularly for re-thinking the question of whether one legal system is definitely better or worse than the other two. (Series: Ius Commune Europaeum - Vol. 142) Subject: Contract Law, Sales Law, European Law, Chinese Law, International Law]
Author | : George Letsas |
Publisher | : Oxford University Press, USA |
Total Pages | : 417 |
Release | : 2014 |
Genre | : Law |
ISBN | : 0198713010 |
Download Philosophical Foundations of Contract Law Book in PDF, ePub and Kindle
The 17 essays of this collection explore key philosophical questions underlying the institution of contract, and the philosophical issues arising in specific contract law doctrines, including contract formation, contract interpretation, unfair terms, the principle of good faith, defences, and remedies.
Author | : Oliver Hofmann |
Publisher | : Springer Nature |
Total Pages | : 268 |
Release | : 2021-02-11 |
Genre | : Law |
ISBN | : 3030625257 |
Download Breach of Contract Book in PDF, ePub and Kindle
“Efficient breach” is one of the most discussed topics in the literature of law and economics. What remedy incentivizes the parties of a contract to perform contracts if and only if it is efficient? This book provides a new perception based on an in-depth analysis of the impact the market structure, asymmetry of information, and deviations from the rational choice model have, comprehensively. The author compares the two predominant remedies for breach of contract which have been adopted by most jurisdictions and also found access to international conventions like the Convention on Contracts for the International Sale of Goods (CiSG): Specific performance and expectation damages. The book illustrates the complexity such a comparison has under more realistic assumptions. The author shows that no simple answer is possible, but one needs to account for the circumstances. The comparison takes an economic approach to law applying game theory. The game-theoretic models are consistent throughout the entire book which makes it easy for the reader to understand what effects different assumptions about the market structure, the distribution of information, and deviations from the rational choice model have, and how they are intertwined.
Author | : Gregory Klass |
Publisher | : |
Total Pages | : 0 |
Release | : 2017 |
Genre | : |
ISBN | : |
Download Efficient Breach Book in PDF, ePub and Kindle
The theory of efficient breach is the best known, and the most controversial, product of nearly half a century of economic analysis of contract law. In its simplest form, which is the one that dominates the legal imagination, the theory argues that expectation damages are good because they allow, even encourage, a party to breach when performance becomes inefficient, thereby increasing social welfare. Many noneconomists assume the theory is well supported by principles of neoclassical economics. Thus critics commonly focus on the theory's moral failings, or on problems with the neoclassical approach more generally. But today no economic thinker defends the simple theory of efficient breach. Forty years of scholarship has established that even from the streamlined perspective of neoclassical economics, the simple theory simplifies too much. Expectation damages do not sufficiently deter some types of opportunistic breach. When a contract does become inefficient, other remedies can do as good or better a job of allowing parties to avoid performance. If expectation damages do provide efficient performance incentives, they might create inefficient incentives elsewhere in the transaction. And an exclusive focus on incentives ignores other welfare-enhancing functions remedies can serve, such as risk allocation and signaling. Many noneconomic critics of efficient breach criticize a theory that no economist would defend. All this notwithstanding, contract theorists should pay attention to efficient breach. Most importantly, a revised theory of efficient breach demonstrates how remedies that apply at the end of a transaction can affect the terms chosen at its birth. In many transactions the remedy is likely to affect the price, complicating arguments about its fairness. Many parties are likely to prefer efficient remedies, posing a challenge to remedial theories that ignore efficiency altogether. And economic analysis suggest mechanisms lawmakers can use to delegate remedial choice to the parties while still giving weight to socially preferred remedies. Theorists who make principled arguments for one or another remedy should attend to economic analyses of remedial design, including the idea of efficient breach, which cast new light on these distinctive features of contract law.
Author | : Peter Benson |
Publisher | : Cambridge University Press |
Total Pages | : 365 |
Release | : 2001-02-05 |
Genre | : Law |
ISBN | : 0521640385 |
Download The Theory of Contract Law Book in PDF, ePub and Kindle
Essays addressing a variety of issues in the theory and practice of contract law.
Author | : Peter Benson |
Publisher | : Harvard University Press |
Total Pages | : 625 |
Release | : 2019-12-03 |
Genre | : Law |
ISBN | : 0674237595 |
Download Justice in Transactions Book in PDF, ePub and Kindle
Legal thinkers typically justify contract law on the basis of economics or promissory morality. But Peter Benson takes another approach. He argues that contract is best explained as a transfer of rights governed by a conception of justice. The result is a comprehensive theory of contract law congruent with Rawlsian liberalism.
Author | : Francesco Parisi |
Publisher | : Oxford University Press |
Total Pages | : 593 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 0199684200 |
Download The Oxford Handbook of Law and Economics Book in PDF, ePub and Kindle
The Oxford Handbook of Law and Economics covers over one-hundred topics on issues ranging from law and neuroeconomics to European Union law and economics to feminist theory and law and economics. The book gathers together scholars and experts in law and economics to create the most inclusive and current work on law and economics. It begins at the origins of the field of law and economics, tracks its progression and increased importance to both law and economics, and looks to the future of the field and its continued development by examining a cornucopia of fields touched by work in law and economics.
Author | : Brian Bix |
Publisher | : Cambridge University Press |
Total Pages | : 217 |
Release | : 2012-10-15 |
Genre | : Law |
ISBN | : 0521850460 |
Download Contract Law Book in PDF, ePub and Kindle
This book offers an accessible introduction to American contract law, useful to both first-year law students and advanced contract scholars.
Author | : Mo Zhang |
Publisher | : BRILL |
Total Pages | : 495 |
Release | : 2019-12-16 |
Genre | : Law |
ISBN | : 9004414789 |
Download Chinese Contract Law - Theory & Practice, Second Edition Book in PDF, ePub and Kindle
Chinese Contract Law (2nd Ed) contains the latest developments of contract legislation, adjudication and practices in China and provides all information necessary to comprehend contemporary Chinese contract law.