Representing an unprecedented joint effort from top scholars in the field, this volume collects original contributions to examine the fundamental role of 'fault' in contract law. Is it immoral to breach a contract? Should a breaching party be punished more harshly for willful breach? Does it matter if the victim of breach engaged in contributory fault? Is there room for a calculus of fault within the 'efficient breach' framework? For generations, contract liability has been viewed as a no-fault regime, in sharp contrast to tort liability. Is this dichotomy real? Is it justified? How do the American and European traditions compare? In exploring these and related issues, the essays in this volume bring together a variety of outlooks, including economic, psychological, philosophical, and comparative approaches to law.
Representing an unprecedented effort from top scholars, this volume collects original contributions to examine the fundamental role of 'fault' in contract law.
In recent years there has been a revival of interest in the philosophical study of contract law. In 1981 Charles Fried claimed that contract law is based on the philosophy of promise and this has generated what is today known as 'the contract and promise debate'. Cutting to the heart of contemporary discussions, this volume brings together leading philosophers, legal theorists, and contract lawyers to debate the philosophical foundations of this area of law. Divided into two parts, the first explores general themes in the contract theory literature, including the philosophy of promising, the nature of contractual obligation, economic accounts of contract law, and the relationship between contract law and moral values such as personal autonomy and distributive justice. The second part uses these philosophical ideas to make progress in doctrinal debates, relating for example to contract interpretation, unfair terms, good faith, vitiating factors, and remedies. Together, the essays provide a picture of the current state of research in this revitalized area of law, and pave the way for future study and debate.
The essays in this book treat important aspects of most of the major themes in contemporary philosophy of law and legal theory. All reveal the distinctive authenticity of the author's work, for he is not only a reputable legal theorist but an internationally known scholar of private law, and for many years chair of the Bielefelder Kreis, an international group of legal theorists who have jointly authored major works comparing methodologies of statutory interpretation and precedent.
This textbook is an engaging introduction to the more advanced writings on contract law, primarily designed to allow students to 'get under the skin' of the topic and begin to build their critical thinking and analysis skills. Each chapter is structured around key questions and debates that provoke deeper thought and, ultimately, a clearer understanding. This edition has been extensively rewritten to include new cases and scholarship throughout. New sections include 'no oral modification' clauses, substantive fairness, regulation of standard-form contracts, and remoteness of damage in contract. An excellent book for students of contract law who wish to know more, the aim of the book is not to present a complete overview of theoretical issues in contract law, but rather to illustrate the current debates which are currently going on among those working in shaping the area. The text features summaries of the views of notable experts on key topics and each chapter ends with a list of guided further reading. New to this Edition: - Extensively rewritten to include new cases and scholarship throughout. - New sections and debates include 'no oral modification' clauses, substantive fairness, regulation of standard-form contracts, and remoteness of damage in contract.
A less-expensive grayscale paperback version is available. Search for ISBN 9781680923018. Business Law I Essentials is a brief introductory textbook designed to meet the scope and sequence requirements of courses on Business Law or the Legal Environment of Business. The concepts are presented in a streamlined manner, and cover the key concepts necessary to establish a strong foundation in the subject. The textbook follows a traditional approach to the study of business law. Each chapter contains learning objectives, explanatory narrative and concepts, references for further reading, and end-of-chapter questions. Business Law I Essentials may need to be supplemented with additional content, cases, or related materials, and is offered as a foundational resource that focuses on the baseline concepts, issues, and approaches.
Declared dead some twenty-five years ago, the idea of freedom of contract has enjoyed a remarkable intellectual revival. In The Fall and Rise of Freedom of Contract leading scholars in the fields of contract law and law-and-economics analyze the new interest in bargaining freedom. The 1970s was a decade of regulatory triumphalism in North America, marked by a surge in consumer, securities, and environmental regulation. Legal scholars predicted the “death of contract” and its replacement by regulation and reliance-based theories of liability. Instead, we have witnessed the reemergence of free bargaining norms. This revival can be attributed to the rise of law-and-economics, which laid bare the intellectual failure of anticontractarian theories. Scholars in this school note that consumers are not as helpless as they have been made out to be, and that intrusive legal rules meant ostensibly to help them often leave them worse off. Contract law principles have also been very robust in areas far afield from traditional contract law, and the essays in this volume consider how free bargaining rights might reasonably be extended in tort, property, land-use planning, bankruptcy, and divorce and family law. This book will be of particular interest to legal scholars and specialists in contract law. Economics and public policy planners will also be challenged by its novel arguments. Contributors. Gregory S. Alexander, Margaret F. Brinig, F. H. Buckley, Robert Cooter, Steven J. Eagle, Robert C. Ellickson, Richard A. Epstein, William A. Fischel, Michael Klausner, Bruce H. Kobayashi, Geoffrey P. Miller, Timothy J. Muris, Robert H. Nelson, Eric A. Posner, Robert K. Rasmussen, Larry E. Ribstein, Roberta Romano, Paul H. Rubin, Alan Schwartz, Elizabeth S. Scott, Robert E. Scott, Michael J. Trebilcock
Commercial contract law is in every sense optional given the choice between legal systems and law and arbitration. Its 'doctrines' are in fact virtually all default rules. Contract Law Minimalism advances the thesis that commercial parties prefer a minimalist law that sets out to enforce what they have decided - but does nothing else. The limited capacity of the legal process is the key to this 'minimalist' stance. This book considers evidence that such minimalism is indeed what commercial parties choose to govern their transactions. It critically engages with alternative schools of thought, that call for active regulation of contracts to promote either economic efficiency or the trust and co-operation necessary for 'relational contracting'. The book also necessarily argues against the view that private law should be understood non-instrumentally (whether through promissory morality, corrective justice, taxonomic rationality, or otherwise). It sketches a restatement of English contract law in line with the thesis.
In performing business negotiations, many of us find ourselves on shifting ground. Is it really tenable to call your lawyers every time you make a purchase or forge a new contract? And when something goes wrong, what resources do you have to fall back on? In this breakthrough piece of business nonfiction, author Linda Frazer proposes a revolutionary new way of how private transnational business contracts might be negotiated. Current business law follows an outdated seventeenth-century model that simply does not work for the fast-paced, dynamic contemporary world of international business. But what if we were to implement a system with checks and balances as adaptable and quick-moving as the business negotiations they apply to? Frazer takes her time building her case for this, laying out the common pitfalls faced in making modern-day contracts, both formal and informal. She then carefully lays out her proposed remedy, a thorough and well-considered framework that avoids these common missteps, offering a robust alternative in which both parties to an agreement can define their rights and obligations securely, transparently, and dynamically. This way, potential missteps can be handled expeditiously—that is, when they haven’t been avoided altogether. This book is sure to make an invaluable addition to the world of business literature—and to the shelves of any reader interested in alternative methods of pursuing negotiations in the realm of private transnational business.
