Drawing insights from the literature on credit and labor markets and from the author’s own survey work on contractual practices among manufacturers and traders in Africa, this paper investigates the spontaneous emergence of markets in the presence of heterogeneous agents. Using a dynamic game setting, we derive precise conditions under which relational contracting spontaneously emerges and dete...

according to the principle of severability, in the case of partial breach related remedy is applied only on that part hence other part is valid. in english law and convention for the international sale of goods (1980) this principle is applied explicitly so, in partial breach, partial remedies are applied in these two laws. on the basis of jurisprudence rules like severance, inferred rules of a...

Contact centres represents critical component in the value chain through their differentiating role in service delivery. The vitality is assessed in terms of performance and global service quality that is brought into sharp focus if the centre is outsourced because of the impact of the strategic behaviour of the principal and its relation with its agents. The association of employees with the b...

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...

In her engaging and useful book, Accounting for Profit for Breach of Contract: Theory and Practice, Katy Barnett presents a theory of disgorgement damages for breach of contract. This is a welcome publication, as disgorgement damages continue to present both theoretical and practical puzzles for the law of contract, and Barnett makes a valuable contribution to this important topic. By way of ba...

knowing of formation of a legal rule is an efficient way to recognizing and assessing of that rule. anticipatory breach doctrine became apparent in common law when the court in hochster versus de la tour case (1980), hold that a party could breach an executor contract prior to the performance date and injured party entitle to sue at once. before it, courts had made a negative answer to this mat...