Essays In Relational Contract Theory
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Essays In Relational Contract Theory
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Author : Zhang Guo
language : en
Publisher:
Release Date : 2013
Essays In Relational Contract Theory written by Zhang Guo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Changing Concepts Of Contract
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Author : David Campbell
language : en
Publisher: Springer
Release Date : 2017-02-28
Changing Concepts Of Contract written by David Campbell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-28 with Law categories.
Changing Concepts of Contract is a prestigious collection of essays that re-examines the remarkable contributions of Ian Macneil to the study of contract law and contracting behaviour. Ian Macneil, who taught at Cornell University, the University of Virginia and, latterly, at Northwestern University, was the principal architect of relational contract theory, an approach that sought to direct attention to the context in which contracts are made. In this collection, nine leading UK contract law scholars re-consider Macneil's work and examine his theories in light of new social and technological circumstances. In doing so, they reveal relational contract theory to be a pertinent and insightful framework for the study and practice of the subject, one that presents a powerful challenge to the limits of orthodox contract law scholarship. In tandem with his academic life, Ian Macneil was also the 46th Chief of the Clan Macneil. Included in this volume is a Preface by his son Rory Macneil, the 47th Chief, who reflects on the influences on his father's thinking of those experiences outside academia. The collection also includes a Foreword by Stewart Macaulay, Malcolm Pitman Sharp Hilldale Professor Emeritus at the University of Wisconsin-Madison, and an Introduction by Jay M Feinman, Distinguished Professor of Law at Rutgers School of Law.
Essays In Contract Design Under Incomplete Enforcement
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Author : Paula Cordero-Salas
language : en
Publisher:
Release Date : 2011
Essays In Contract Design Under Incomplete Enforcement written by Paula Cordero-Salas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Abstract: This dissertation applies relational contract theory to study the optimal incentive provision in situations when formal enforcement is too costly. Essay one considers a theoretical redistribution of bargaining power among business partners who trade repeatedly and that traditionally hold asymmetric power to negotiate contract terms. I included a bargaining process in a relational contracts model to analyze the economic consequences of shifting bargaining power under different enforcement regimes. The model predicts that as the agent's bargaining power increases, her incentive payments decrease even though her total compensation increases. Thus, efficiency wage contracts are more likely to be observed than contingent performance contracts in markets where agents have bargaining power. In contexts where enforcement is weak, a transfer of bargaining power can erode market efficiency in a dynamic relational contracting environment. If principals lose power coupled with the absence of enforcement, they may find the short-term gains of reneging on contractual promises more attractive than long-term benefits of faithfully executing a contract where they hold less power. As a consequence trade is more likely to break down. In this case, the agent is better off exercising less bargaining power than she has. Nonetheless, the model also predicts that such a collapse in good-faith execution of contracts in the light of such a power shift may not occur if some minimum payment for contract participation is enforced. Essay two provides experimental evidence on the theoretical predictions from essay one. I implement an experimental design that adjusts the bargaining power of sellers (agents) and the enforceability of the contract. I find that the vast majority of contracts take the form of efficiency wage contracts instead of contingent performance contracts when enforcement is partially incomplete and sellers have more bargaining power than buyers. The total contracted and actual compensation increase with the bargaining power of the sellers. However, sellers' profits are found to increase only if a part of the total payment is third-party enforceable. In this case, observed surplus and efficiency are lower than predictions. When no part of a contract is third-party enforceable, more cooperative relationships emerge, exhibiting higher quality provision resulting in higher surplus and efficiency while rent sharing is lower. The result is explained by the stronger buyer's deviation, confirming predictions from essay one. Essay three considers the application of relational contracts as a mechanism for the reduction of carbon emissions from deforestation and forest degradation (REDD). I compared the structure of the optimal relational contract in the presence of purely self-interested participants to the optimal structure when participants are motivated by other preferences including altruism, spite, inequality aversion or warm-glow concerns. I find that the optimal contract structure only differs from the benchmark case of self-interested agents when seller preferences are different than only profit-maximizing preferences or if either party is inequality averse. Moreover, I also show that the presence of other regarding preferences increases or decreases the likelihood of cooperation in the long-term relationship relative to the case of self-interested participants.
Essays In Honour Of Aj Kerr
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Author :
language : en
Publisher: Butterworth-Heinemann
Release Date : 2006
Essays In Honour Of Aj Kerr written by and has been published by Butterworth-Heinemann this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Contracts categories.
The Legal Essays Of Michael Bayles
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Author : W.L. Robison
language : en
Publisher: Springer Science & Business Media
Release Date : 2002-06-30
The Legal Essays Of Michael Bayles written by W.L. Robison and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-06-30 with Law categories.
The legal essays by Michael Bayles in this collection display his commitment to utilitarianism both as a moral theory and an analytical device. A utilitarian must choose between the best of all possible alternatives and so must lay out the alternatives and thus their consequences carefully and completely. As it happens, there is no better way of understanding why something is as it is in the law, and no better way to lay the foundations for criticism and improvement, than to lay out what the alternatives are, carefully distinguishing them, their justifications, and their implications for changing other areas of the law and for changing our relation to the law. Bayles was a master at such work, and each essay thus repays careful study for anyone concerned about the law. The essays cover a wide variety of topics, from contract law to the criminal law, from torts to theory, and form a natural set. Laying out the alternatives in one area makes it much clearer how and why alternatives in other areas are acceptable or required. Interconnections within the legal system as a whole not readily visible when studying one area of the law become obvious when several are laid out side-by-side using the analytical skill required by a good utilitarian.
From Promise To Contract
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Author : Dori Kimel
language : en
Publisher: Hart Publishing
Release Date : 2003-03-14
From Promise To Contract written by Dori Kimel and has been published by Hart Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-03-14 with Law categories.
The book offers a careful philosophical investigation of the similarities and the much-overlooked differences between contract and promise.
Revisiting The Contracts Scholarship Of Stewart Macaulay
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Author : Jean Braucher
language : en
Publisher: Bloomsbury Publishing
Release Date : 2013-01-14
Revisiting The Contracts Scholarship Of Stewart Macaulay written by Jean Braucher and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-14 with Law categories.
This book contains the papers prepared for a conference held at the Wisconsin Law School in 2011 to honour the work of Stewart Macaulay, one of the most famous contracts scholars of his generation. Macaulay has been writing about contracts and contract law for over 50 years; the 1960s were particularly productive years for him, when he introduced many novel ideas into the scholarly world. Macaulay's foundational work for what is now called relational contract theory was published during this period. Macaulay is also known for his use of empirical research and interdisciplinary theories to illuminate our knowledge of contracting practices. The papers in this volume reflect, in diverse ways, on the subsequent influence and the contemporary relevance of Macaulay's work. All the contributors are important contracts scholars in their own right: David Campbell and John Wightman from the UK, Brian Bix, Jay Feinman, Robert Gordon, Claire Hill, Charles Knapp, Ethan Leib, Deborah Post, Edward Rubin, Carol Sanger, Robert Scott, Gordon Smith, Josh Whitford (with Li-Wen Lin) and William Woodward from the USA. The volume also reproduces Macaulay's most cited paper, 'Non-Contractual Relations in Business', and excerpts from two other important papers of his, 'Private Legislation and the Duty to Read-Business Run by IBM Machine, the Law of Contracts and Credit Cards', and 'The Real and The Paper Deal: Empirical Pictures of Relationships, Complexity and the Urge for Transparent Simple Rules'.
Scholars Of Contract Law
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Author : James Goudkamp
language : en
Publisher: Bloomsbury Publishing
Release Date : 2022-12-01
Scholars Of Contract Law written by James Goudkamp and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-01 with Law categories.
This book provides a counter-balance to the traditional focus on judicial decisions by exploring the contribution of legal scholars to the development of private law. In the book the work of a selection of leading scholars of contract law from across the common law world, ranging from Sir Jeffrey Gilbert (1674–1726) to Professor Brian Coote (1929–2019), is addressed by legal historians and current scholars in the field. The focus is on the nature of the work produced by the scholars in question, important influences on their work, and the impact which that work in turn had on thinking about contract law. The book also includes an introductory chapter and an afterword by Professor William Twining that explore connections between the scholars and recurrent themes. The process of subjecting contract law scholarship to sustained analysis provides new insights into the intellectual development of contract law and reveals the central role played by scholars in that process. And by focusing attention on the work of influential contract scholars, the book serves to emphasise the importance of legal scholarship to the development of the common law more generally.
Poole S Textbook On Contract Law
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Author : Robert Merkin QC
language : en
Publisher: Oxford University Press
Release Date : 2021
Poole S Textbook On Contract Law written by Robert Merkin QC and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Law categories.
The fifteenth edition of this established and popular text provides clear and commercially-focused coverage of contract law. Case-driven content and succinct explanations are combined with summaries, questions, and examples to allow students to gain a sound understanding of the theory and application of contract law principles.
The Theory Of Contract Law
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Author : Peter Benson
language : en
Publisher: Cambridge University Press
Release Date : 2001-02-05
The Theory Of Contract Law written by Peter Benson and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-02-05 with Law categories.
Although the law of contract is largely settled, there appears to be no widely-accepted comprehensive theory of its main principles and doctrines or of its normative basis. Contract law theory raises issues concerning the relation between law and morality, the role and the importance of rights, the connection between justice and economics, and the distinction between private and public law. This collection of six full-length essays, written by some of the most eminent scholars in the field, explores the general theory of contract law from a variety of theoretical perspectives. The volume addresses a wide range of issues, both methodological and substantive, in the theory and practice of contract law. While the essays build upon past theoretical contributions, they also attempt to take contract theory further and suggest promising ways to develop theory of contract law.