Corporation and Contract

Corporation and Contract

Publicly traded corporations rarely use the nearly absolute freedom afforded them to draft charters that deviate from the default terms of state corporation law. Conventional explanations for this phenomenon are unconvincing. A more promising explanation lies in the lack of any feasible amendment mechanism that will assure efficient adaptation of charter terms as changing circumstances dictate ...

Agency, Cyberspace, and Social Contract

The social contract has been about rights and responsibilities in human societies. Facebook and its role in manufacturing and sustaining a global social contract, a new “we” is clearly one of the research areas that needs more attention. A new “we” is coming of age in the new age of connectivity and communication with a new outlook toward responsibility and rights at individual and collective l...

McDonald’s Corporation

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 multinational corporation

followed, and English readers will find many parallels. This is history seen from below, and Professor Melosh looks sympathetically on the craft methods, practical experience, and self-control that dominated the lives of nurses in the old apprenticeship system in the diploma schools. It was an occupational culture, a shared work experience that gave value and colour to their lives. The section ...