Contract interpretation remains the most important source of commercial litigation and the most contentious area of contemporary contract doctrine and scholarship. Two polar positions have competed for dominance in contract interpretation. In a textualist regime, generalist courts cannot consider context; in a contextualist regime, they must. Underlying this dispute are contrary assumptions abo...

An econometric analysis was conducted with the intent of discovering the relationship between contractual provisions, as specified in timber sale notices, with high bids received for those timber sales. Specifically, the goal of this study was to determine the relationship between high bids for timber tracts and certain contractual stipulations that have not previously been explored to any grea...

the rule of necessity to respect the principle of good faith in performance of the contract is the result of :union: rights and ethics. good faith in performance of the contract with subjective and objective criteria and using cost-benefit analysis, wealth maximization, game theory, efficiency and welfare standards, leading to the achievement of the objectives set by the parties of contract. la...

An important determinant of health system performance is contracting. Providers often respond to financial incentives, despite the ethical underpinnings of medicine, and payers can craft contracts to influence performance. Yet contracting is highly imperfect in both single-payer and multi-payer health systems. Arguably, in a competitive, multi-payer environment, contractual innovation may occur...

The extant literature on after-sales service support suggests an implicit consensus around the (Pareto) superiority of performance-based contracts (PBC) over traditional time-and-material contracts. However, when product technology is new, a setting in which the vendor possesses superior information on product reliability, there is compelling evidence to suggest that buyers prefer the tradition...

This research is motivated by the critical problem of stark incompatibility between the contractual clauses (typically buried in legal documents) and the myriad of performance measures used to evaluate and reward (or penalize) supply participants in the extended enterprise. This difference between what is contractually expected and what is actually performed in addition to the lack of transpare...

In numerous economic scenarios, contracting parties may not have a clear picture of all the relevant aspects. While confronted with these unawareness issues, the strategic decisions of the contracting parties critically depend on their sophistication. A contracting party may be unaware of what she is entitled to determine. Therefore, she can only infer some missing pieces via the contract offer...

This article examines a number of contractual issues generated by the advent of intelligent agent applications. The aim of the study is to provide legal guidelines for developers of intelligent agent software by addressing the contractual difficulties associated with automated electronic transactions. The author investigates whether the requirements for a legally enforceable contract are satisf...