Consider a society in which the production and enforcement of law is entirely private. Individuals contract with rights enforcement firms to protect their rights and arrange for the settlement of legal disputes to which they are a party. Each pair of enforcement firms contracts with an arbitration agency, a private court, to settle disputes between their customers, agreeing to accept and enforc...

This paper analyses the interaction between internal agency problems within firms and external search frictions when workers have private information. We show that the allocation of resources is determined by a modified Hosios Rule. We then analyze the effect of changes in the macro economic variables on the wage contract and the unemployment rate. We find that private information may increase ...

This paper analyses the interaction between internal agency problems within firms and external search frictions when workers have private information. We show that the allocation of resources is determined by a modified Hosios Rule. We then analyze the effect of changes in the macro economic variables on the wage contract and the unemployment rate. We find that private information may increase ...

time sharing contracts are a new type of contracts relating to immovable property created in response to modern life necessities. the main feature of this type of contract is that the ownership of property is transferred to the buyer for a limited period of the year. unlike traditional sale contracts in which the buyer acquires the complete and continuous ownership of the property purchased, in...

As technology infrastructure becomes available for electronic exchange of contracts, the IT community is becoming more interested in modeling of contracts as governance structures for inter-organisational interactions and business processes. This paper investigates e-contract modeling and monitoring. Subsquently, we propose a contract layered model that allows for the convenient monitoring of m...

FOLLOWING the development of the globalized economy, it was inevitable that relevant private law rules would be harmonized and unified. This kind of harmonization and unification is both a global and a regional endeavor. In Asia (especially in East Asia) there is a private initiative by scholars trying to harmonize rules of contract law, and the aim is to create a model law called Principles of...

petroleum upstream service contracts possess different aspects of legal, contractual, fiscal, economic, technical and environmental nature. in this research, efforts have been made to review one of the aspects of the petroleum upstream contracts which have been far too little considered, namely the fiscal system of upstream service contracts. since every service contract possesses its own indep...

extension of the building advance-sale contracts on the one hand, and inadequacy of the provisions of the civil code on protection of  building advance-buyers before making its completion, on the other, consequently causing many problems for people in the community (society), has forced the legislature to pass the building advance-sale code in 2010. the parties of these contracts are called adv...