Concept information
Preferred term
economics of contracts
Definition
- The economic analysis of contract law is an important development in the law and economics movement. Applied to contracts, it analyzes the efficiency of various constitutive rules dealing with remedies, damages, penalty clauses, and default rules. [Source: Encyclopedia of Law & Society: American and Global Perspectives; Contracts, Economics Of]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/economics_of_contracts
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