Unconscionability, Unequal Bargaining Power and Economics

Unconscionability, Unequal Bargaining Power and Economics PDF Author: Annabel Verco
Publisher:
ISBN:
Category :
Languages : en
Pages : 106

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Unconscionability, Unequal Bargaining Power and Economics

Unconscionability, Unequal Bargaining Power and Economics PDF Author: Annabel Verco
Publisher:
ISBN:
Category :
Languages : en
Pages : 106

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Book Description


Inequality of Bargaining Power

Inequality of Bargaining Power PDF Author: Robert W. Clark
Publisher: Taylor & Francis
ISBN: 9780459388409
Category : Contracts
Languages : en
Pages : 255

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The Antitrust Enterprise

The Antitrust Enterprise PDF Author: Herbert HOVENKAMP
Publisher: Harvard University Press
ISBN: 9780674038820
Category : Law
Languages : en
Pages : 392

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Book Description
After thirty years, the debate over antitrust's ideology has quieted. Most now agree that the protection of consumer welfare should be the only goal of antitrust laws. Execution, however, is another matter. The rules of antitrust remain unfocused, insufficiently precise, and excessively complex. The problem of poorly designed rules is severe, because in the short run rules weigh much more heavily than principles. At bottom, antitrust is a defensible enterprise only if it can make the microeconomy work better, after accounting for the considerable costs of operating the system. The Antitrust Enterprise is the first authoritative and compact exposition of antitrust law since Robert Bork's classic The Antitrust Paradox was published more than thirty years ago. It confronts not only the problems of poorly designed, overly complex, and inconsistent antitrust rules but also the current disarray of antitrust's rule of reason, offering a coherent and workable set of solutions. The result is an antitrust policy that is faithful to the consumer welfare principle but that is also more readily manageable by the federal courts and other antitrust tribunals.

Stolen Goods, a Cruise Disaster and a Right of Way Gone Wrong

Stolen Goods, a Cruise Disaster and a Right of Way Gone Wrong PDF Author: Anthony J. Duggan
Publisher:
ISBN:
Category :
Languages : en
Pages : 19

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Book Description
In Hunter Engineering Co. v. Syncrude Canada Ltd., the Canadian Supreme Court rejected the doctrine of fundamental breach in favour of unconscionability, a more openly discretionary decision-making tool. This article asserts that the doctrine of 'unconscionability' and 'inequality of bargaining power' are ambiguous terms that allow the court to decide however it sees fit. It is argued that using an economic perspective to decide these cases would provide structure and predictability, and allow parties to make deals with more confidence. Through the examples of three important cases from Canada (Solway v. Davis Moving and Storage), Australia (Dillon v. Baltic Shipping), and New Zealand (Nichols v. Jessup), this article shows how an economic model for decision-making would work to lend more consistency to unconscionability decisions. Finally, three common arguments against lending an economic perspective to the unconscionability doctrine are canvassed.

Medieval Economic Thought

Medieval Economic Thought PDF Author: Diana Wood
Publisher: Cambridge University Press
ISBN: 9780521458931
Category : Business & Economics
Languages : en
Pages : 272

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Book Description
This book is an introduction to medieval economic thought, mainly from the twelfth to the fifteenth centuries, as it emerges from the works of academic theologians and lawyers and other sources - from Italian merchants' writings to vernacular poetry, Parliamentary legislation, and manorial court rolls. It raises a number of questions based on the Aristotelian idea of the mean, the balance and harmony underlying justice, as applied by medieval thinkers to the changing economy. How could private ownership of property be reconciled with God's gift of the earth to all in common? How could charity balance resources between rich and poor? What was money? What were the just price and the just wage? How was a balance to be achieved between lender and borrower and how did the idea of usury change to reflect this? The answers emerge from a wide variety of ecclesiastical and secular sources.

Binding Promises

Binding Promises PDF Author: W. David Slawson
Publisher: Princeton University Press
ISBN: 1400821967
Category : Law
Languages : en
Pages : 219

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Book Description
During its classical period, American contract law had three prominent characteristics: nearly unlimited freedom to choose the contents of a contract, a clear separation from the law of tort (the law of civil wrongs), and the power to make contracts without regard to the other party's ability to understand them. Combining incisive historical analysis with a keen sense of judicial politics, W. David Slawson shows how judges brought the classical period to an end about 1960 with a period of reform that continues to this day. American contract law no longer possesses any of the prominent characteristics of its classical period. For instance, courts now refuse to enforce standard contracts according to their terms; they implement the consumer's reasonable expectations instead. Businesses can no longer count on making the contracts they want: laws for certain industries or for businesses generally set many business obligations regardless of what the contracts say. A person who knowingly breaches a contract and then tries to avoid liability is subject to heavy penalties. As Slawson demonstrates, judges accomplished all these reforms, although with some help from scholars. Legislation contributed very little despite its presence in massive amounts and despite the efforts of modern institutions of law reform such as the Conference of Commissioners on Uniform State Laws. Slawson argues persuasively that this comparison demonstrates the superiority of judge-made law to legislation for reforming private law of any kind.

Behavioral Law and Economics

Behavioral Law and Economics PDF Author: Eyal Zamir
Publisher: Oxford University Press
ISBN: 0190901349
Category : Business & Economics
Languages : en
Pages : 641

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Book Description
In the past few decades, economic analysis of law has been challenged by a growing body of experimental and empirical studies that attest to prevalent and systematic deviations from the assumptions of economic rationality. While the findings on bounded rationality and heuristics and biases were initially perceived as antithetical to standard economic and legal-economic analysis, over time they have been largely integrated into mainstream economic analysis, including economic analysis of law. Moreover, the impact of behavioral insights has long since transcended purely economic analysis of law: in recent years, the behavioral movement has become one of the most influential developments in legal scholarship in general. Behavioral Law and Economics offers a state-of-the-art overview of the field. Eyal Zamir and Doron Teichman survey the entire body of psychological research that lies at the basis of behavioral analysis of law, and critically evaluate the core methodological questions of this area of research. Following this, the book discusses the fundamental normative questions stemming from the psychological findings on bounded rationality, and explores their implications for setting the law's goals and designing the means to attain them. The book then provides a systematic and critical examination of the contributions of behavioral studies to all major fields of law including: property, contracts, consumer protection, torts, corporate, securities regulation, antitrust, administrative, constitutional, international, criminal, and evidence law, as well as to the behavior of key players in the legal arena: litigants and judicial decision-makers.

Abusive Practices in Competition Law

Abusive Practices in Competition Law PDF Author: Fabiana Di Porto
Publisher: Edward Elgar Publishing
ISBN: 1788117344
Category :
Languages : en
Pages : 512

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Book Description
Abusive Practices in Competition Law tackles the difficult questions presented to competition lawyers and economists regarding abusive practices: where and when is the red line crossed in competitive advances? When is a company explicitly dominant? How do you handle those who hold superior bargaining power over others but are not classed as dominant?

The Unfair Contract Terms Act 1977

The Unfair Contract Terms Act 1977 PDF Author: W. V. H. Rogers
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 52

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Book Description


Contract Law Minimalism

Contract Law Minimalism PDF Author: Jonathan Morgan
Publisher: Cambridge University Press
ISBN: 110747020X
Category : Law
Languages : en
Pages : 314

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Book Description
Commercial contract law is in every sense optional given the choice between legal systems and law and arbitration. Its 'doctrines' are in fact virtually all default rules. Contract Law Minimalism advances the thesis that commercial parties prefer a minimalist law that sets out to enforce what they have decided - but does nothing else. The limited capacity of the legal process is the key to this 'minimalist' stance. This book considers evidence that such minimalism is indeed what commercial parties choose to govern their transactions. It critically engages with alternative schools of thought, that call for active regulation of contracts to promote either economic efficiency or the trust and co-operation necessary for 'relational contracting'. The book also necessarily argues against the view that private law should be understood non-instrumentally (whether through promissory morality, corrective justice, taxonomic rationality, or otherwise). It sketches a restatement of English contract law in line with the thesis.