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Author: Gregory Klass
Publisher:
ISBN:
Category :
Languages : en
Pages : 67
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Book Description
There is a longstanding debate about whether courts should enforce contract terms purporting to limit the parties' liability for fraud. Less often noticed is that many contracts are designed to incorporate fraud liability, by requiring one party to make representations about her performance that, if false, can satisfy the elements of deceit. Such contractual representations are best understood as members of a broader, hitherto underappreciated category of contract terms: duties designed to increase the other party's chances of recovering for breach. Examples include the duty to keep records, to share information about performance, to permit audits, or not to hide breach. This Article shows that difficulties in proving proximate harm entail that legal liability for the breach of such terms makes a practical difference only when it includes penalties, punitive damages or other extra-compensatory measures. Parties now contract for liability in fraud, where punitive damages are available, because they cannot get these remedies in contract. The Article also argues that most of the costs of extra-compensatory remedies (such as deterring efficient breach) don't apply when they are attached to duties to cooperate in recovery, and that, in many cases, adopting such duties is a better solution to under-enforcement than adopting a damages multiplier.The practical upshot is a strong argument against rulings, most recently via a broad reading of the economic loss doctrine, that there can be no liability in fraud for lies that are also breaches. Rather than serving the oft-stated goal of protecting the parties' contractually chosen allocation of risk, these rules defeat party choice. Even better, however, would be exceptions to the rules against penalties and punitive damages when those remedies are attached to the breach a duty to cooperate in recovery.
Author: Gregory Klass
Publisher:
ISBN:
Category :
Languages : en
Pages : 67
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Book Description
There is a longstanding debate about whether courts should enforce contract terms purporting to limit the parties' liability for fraud. Less often noticed is that many contracts are designed to incorporate fraud liability, by requiring one party to make representations about her performance that, if false, can satisfy the elements of deceit. Such contractual representations are best understood as members of a broader, hitherto underappreciated category of contract terms: duties designed to increase the other party's chances of recovering for breach. Examples include the duty to keep records, to share information about performance, to permit audits, or not to hide breach. This Article shows that difficulties in proving proximate harm entail that legal liability for the breach of such terms makes a practical difference only when it includes penalties, punitive damages or other extra-compensatory measures. Parties now contract for liability in fraud, where punitive damages are available, because they cannot get these remedies in contract. The Article also argues that most of the costs of extra-compensatory remedies (such as deterring efficient breach) don't apply when they are attached to duties to cooperate in recovery, and that, in many cases, adopting such duties is a better solution to under-enforcement than adopting a damages multiplier.The practical upshot is a strong argument against rulings, most recently via a broad reading of the economic loss doctrine, that there can be no liability in fraud for lies that are also breaches. Rather than serving the oft-stated goal of protecting the parties' contractually chosen allocation of risk, these rules defeat party choice. Even better, however, would be exceptions to the rules against penalties and punitive damages when those remedies are attached to the breach a duty to cooperate in recovery.
Author: United States. Dept. of Energy
Publisher:
ISBN:
Category :
Languages : en
Pages : 142
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Book Description
Author: United States. Dept. of Energy
Publisher:
ISBN:
Category :
Languages : en
Pages : 342
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Author: Asian Development Bank
Publisher: Asian Development Bank
ISBN: 9292693204
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
The coronavirus disease or COVID-19 has brought countries together to mitigate its spread and cushion its adverse consequences. Regional cooperation will be perhaps even more important in building an inclusive, resilient, and sustainable economic revival. This guidance note advocates wider, deeper, and more open regional cooperation and integration. Cooperation can be widened to include regional health security, trade in information and communication technology-enabled services, and financial safety nets, for example. It can be deepened to reach more stakeholders and sectors. It can also become more open through flexible collaboration and greater sharing of knowledge and expertise.
Author: Flayo O. Kirk
Publisher:
ISBN:
Category : Breach of contract
Languages : en
Pages : 135
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Book Description
Long established common law precedent, the implied promise of one party not to obstruct the other, is the basis for the Government's duty to cooperate with the contractor and not to hinder it during contract performance. Breach of this obligation commonly results in recovery of an equitable adjustment by the contractor under either a constructive change or constructive suspension theory. However, determining whether there has been a breach can be difficult as each case must be decided on its facts, the magnitude of Government fault required before allowing recovery is uncertain, and the broad scope of the implied promise complicates application of other traditional recovery theories. In its working relationship with the contractor the Government must avoid a destructive breakdown while still ensuring that it obtains its contractual entitlements. Although cooperation is especially critical in large and complex contracts, the Government is not required to make the work easier and has no duty to supervise a contractor's performance. Neither is it required to assist a contractor's early completion. However, the Government may not knowingly ignore contractor deviations during contract performance, hinder a contractor's early completion, or unduly pressure a contractor to complete performance. A contractor is also responsible for its own finances, although special considerations may apply for small businesses in the above areas. (sdw).
Author: United States. Dept. of Energy
Publisher:
ISBN:
Category :
Languages : en
Pages : 130
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Author: United States
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 1420
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"The United States Code is the official codification of the general and permanent laws of the United States of America. The Code was first published in 1926, and a new edition of the code has been published every six years since 1934. The 2012 edition of the Code incorporates laws enacted through the One Hundred Twelfth Congress, Second Session, the last of which was signed by the President on January 15, 2013. It does not include laws of the One Hundred Thirteenth Congress, First Session, enacted between January 2, 2013, the date it convened, and January 15, 2013. By statutory authority this edition may be cited "U.S.C. 2012 ed." As adopted in 1926, the Code established prima facie the general and permanent laws of the United States. The underlying statutes reprinted in the Code remained in effect and controlled over the Code in case of any discrepancy. In 1947, Congress began enacting individual titles of the Code into positive law. When a title is enacted into positive law, the underlying statutes are repealed and the title then becomes legal evidence of the law. Currently, 26 of the 51 titles in the Code have been so enacted. These are identified in the table of titles near the beginning of each volume. The Law Revision Counsel of the House of Representatives continues to prepare legislation pursuant to 2 U.S.C. 285b to enact the remainder of the Code, on a title-by-title basis, into positive law. The 2012 edition of the Code was prepared and published under the supervision of Ralph V. Seep, Law Revision Counsel. Grateful acknowledgment is made of the contributions by all who helped in this work, particularly the staffs of the Office of the Law Revision Counsel and the Government Printing Office"--Preface.
Author: Bill Linville
Publisher:
ISBN:
Category : Secondary recovery of oil
Languages : en
Pages :
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Author: Harry Elijah Ratcliffe
Publisher:
ISBN:
Category : Agriculture, Cooperative
Languages : en
Pages : 1236
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Author: Dirk Fuchs
Publisher: IOS Press
ISBN: 9781586031244
Category : Computers
Languages : en
Pages : 284
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Book Description