This article uses the recent Delaware Chancery Court case ofHexion v. Huntsman as a template for motivating thoughts about how contract law should interpret contractual conditions in general--and "material adverse event"provisions in particular-within environments of extreme ambiguity (as opposed to risk). Although ambiguity and aversion thereto bear some facial similarities to risk and risk av...

Our purpose in this paper is to provide an overview of what we know about alliance contracts. After a short introduction to the contents of alliance contracts, we start by contrasting alliance contractual form and governance form. Next, we focus on two related constructs: contractual complexity and contractual completeness. We suggest that contractual complexity is a more adequate construct to ...

Despite courts’ and commentators’ denial of morality and focus on efficiency in contract law, fairness and flexibility have remained the bedrocks of the unconscionability doctrine. This Article therefore departs from the popular formalist critiques of unconscionability that urge for the doctrine’s demise or constraint based on claims that its flexibility and lack of clear definition threaten ef...

We investigate the relationship between technology adoption and contractual form in a network industry. We have constructed a novel data set tracking contract forms for outsourcing relationships between major U.S. airlines and their regional airline subcontractors. Beginning in the late 1990s, there is a dramatic change in the nature of contracts in this industry with fixed price contracts repl...

Current state of legal support for corporate relations and doctrinal approaches to determining the priority their mandatory or dispositive regulation have been analyzed. Attention has drawn fact that in order ensure unimpeded exercise subjective rights by each participant a organisation, balance regulatory self-regulation should be developed, which built from requirements discretionary principl...

Since their discovery by Mandelbrot (The Fractal Geometry of Nature, Freeman, New York, 1977), fractals have experienced considerable success in quantifying the complex structure exhibited by many natural patterns and have captured the imaginations of scientists and artists alike. With ever-widening appeal, they have been referred to both as ‘‘fingerprints of nature’’ (Nature 399 (1999) 422) an...

The Smart Grid incorporates advanced information and communication technologies (ICTs) in power systems, and is characterized by high penetration of distributed energy resources (DERs). Whether it is the nation-wide power grid or a single residential building, the energy management involves different types of resources that often depend on and influence each other. The concept of virtual power ...