Law and economics study of contract law has shown that in general it is efficient for parties to be allowed to write their own contracts and under normal circumstances for courts to enforce the agreed on terms including the agreed on price. A discussion of various topics related to the economics of contract law by renowned authors at that time professors of the university of chicago 1979 edition read more product details. Abstract this paper which will appear as a chapter in the forthcoming handbook of law and economics am polinsky s shavell eds surveys major issues arising in the economic analysis of contract law. Start studying economics of contract law learn vocabulary terms and more with flashcards games and other study tools
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