Contract Breach and Contract Discharge Due to Impossibility: A Unified Theory

Contract Theory and Theories of Contract Regulation

This Essay considers the substantive and institutional aspects of an economic theory of contract regulation. It lists the various functions that analysts have assigned to contract regulation and briefly discusses the substantive wisdom and institutional feasibility of performing those functions. The essay tentatively concludes that the state should enforce contracts, supply vocabularies that ar...

the theory of efficient breach in contract law

the theory of efficient breach states that it is socially useful to breach a contract whenever the breach would leave no party worse off, while leaving at least one party better off. in other words, economic analyses of breach are mainly concerned with situations in which breach is pareto-superior, rather than just overall profit-maximizing. in contrast with moral theories that hold that breach...

Contract Theory

2 Hidden Information, Screening 4 2.1 The Simple Economics of Adverse Selection . . . . . . . . . . . . . . . . . . 4 2.1.1 First-Best Outcome: Perfect Price Discrimination . . . . . . . . . . . 6 2.1.1.1 Comparison of type-specific contracts with each other . . . . 6 2.1.1.2 In case it’s been too long since you’ve last done a maximization problem . . . . . . . . . . . . . . . . . . . . . . . ....

An Ontological Approach to Unified Contract Management

Easy access of Internet has revolutionized the concept of electronic commerce. As the bulk of business transactions shifts to electronic media, we have business collaborations being negotiated between previously unknown partners. Thus a Contract is the key to a successful business relationship. We foresee a need for a unified contract management in order to achieve coherent business operations....

A Contract Theory Approach to Business Bankruptcy