Risk Sharing through Breach of Contract Remedies
نویسندگان
چکیده
منابع مشابه
Remedies for breach of contract under the CISG
In this essay, I survey the three main remedial categories of the Convention on the International Sale of Goods (CISG) [specific performance, money damages, and goods-oriented remedies such as rejection and cure] from the vantage point of the economic literature on contract remedies, and discuss whether the rules set by the CISG are economically suitable for the particular transactions it gover...
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In this paper, in order to model breach of contract risk, we design and value a bundled option that is composed of contract abandonment and price renegotiation. We show numerically that the bundled option is more valuable for the contract than either of the options, ie, contract abandonment and price renegotiation, in isolation. This value increases monotonically as the spot price becomes more ...
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Freedom of choosing an efficient remedy after the breach of contract, Cumulation of homogeneous remedies and the right to change the selected remedy in modern European contract law have been accepted via the approach of support of the injured party`s expectation interest. The consideration of these principles indicates that the remedies for breach of contract are not concerned in itself and ...
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II. Legal Doctrines A. Restoration of the Equivalence Broken by Partial or Defective Performance 1. Damages for Vendor’s Breach in Land Sales and Price Abatement Ancillary to Specific Performance 2. Rent Abatement for Breach of Warranty of Habitability and other Obligations 3. Price Reduction under the CISG 4. Monetary Restitution for Non-Monetary Performance in Divisible Contracts B. Restorati...
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Theory predicts that default breach remedies are immaterial whenever contracting costs are negligible. Some experimental studies, however, suggest that in practice default rules do matter, as they may a¤ect parties' preferences over contract terms. This paper presents results from an experiment designed to address the importance of default breach remedies for actual contract outcomes. We …nd th...
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ژورنال
عنوان ژورنال: The Journal of Legal Studies
سال: 1983
ISSN: 0047-2530,1537-5366
DOI: 10.1086/467731