When Insolvency and Restructuring Law Supercedes Contract

Financing Innovation: The Role of Insolvency Law

Scholars working in the ‘law and finance’ field have investigated empirically the links between various types of law and the incidence of venture capital finance. However, no study to date has systematically investigated the relationship between insolvency law— both personal and corporate—and venture capital finance. This paper argues that a nation’s personal insolvency law may have an importan...

Privatization and Restructuring: An Incomplete – Contract Approach

This paper deals with a special hold-up problem in privatization. Since the enterprise, which is to be privatized, has to be restructured in a situation of uncertainty and the restructuring investments are sunk when the final decision on the sale price is taken in renegotiations, there is an imminent danger that restructuring is not done on an efficient scale, and there is underinvestment. We c...

Fault in Contract Law

A promisor is strictly liable for breaching a contract, according to the standard account. However, a negligence-based system of contract law can be given an economic interpretation, and this Article shows that such a system is in some respects more attractive than the strict-liability system. This may explain why, as a brief discussion of cases shows, negligence ideas continue to play a role i...

Individual Rights and Contract: (Freedom and Reciprocity in Contract Law)

Equality Before the Law and the Social Contract: When Will the United States Finally Guarantee Its People the Equality Before the Law that the Social Contract Demands?

Most European and several countries elsewhere in the world have recognized a right to counsel in many or most civil cases for as long as decades or even centuries and many of these countries are willing to spend, proportionately, anywhere from three to twelve times as much of their national income as the U.S. currently does on the provision of counsel to their lower income populations in civil ...