Business networks consist of several independent businesses that enter into interrelated contracts, conferring on the parties many of the benefits of co-ordination achieved through vertical integration in a single firm, without creating a single integrated business such as a corporation or partnership. Retail franchises are one such example of a network, but the most common instance is a credit card transaction between a customer, retailer, and the issuer of the card. How should the law analyse this hybrid economic phenomenon? It is neither exactly a market relationship - because that overlooks the co-ordination, relational qualities and interdependence of the contracts - nor is it a type of business association or company, since it lacks a centralised co-ordinating authority that receives the residual profits. This book is a translation of Gunther Teubner's classic work on networks, setting out his novel legal concept of 'connected contracts'. In it he explains how this concept addresses the problems posed by networks, such as the question whether the network as a whole can be held legally responsible for damage that it causes to third parties such as customers. A substantial introduction by Hugh Collins explains the analysis of networks in the context of German law and the systems theory from which Teubner approaches the topic. The introduction also explores how far the concept of connected contracts might assist in the common law world, including the UK and the USA, to address the same problems that arise in cases involving networks. As well as making a contribution to comparative law and legal theory, the book will be of interest to scholars interested in contract law, commercial law and the law of business associations.

Combining natural law theory, reliance theory, and economic analysis to develop a jurisprudential approach, this is a prescriptive work presenting a vision of what contract law would be like if it were devoted to teaching moral virtue. The jurisprudential approach draws upon insights of Aristotle, Saint Thomas Aquinas, and other thinkers in the natural law tradition. The author applies this approach to selected legal issues to produce the only contemporary book that uses a natural law approach in prescribing specific reforms in American contract law. Although this study is theoretical, the author, who practiced law for more than eight years, explains technical terms for non-specialist readers. The book employs a pluralistic moral theory and presents a serious challenge to contemporary jurisprudential theories that focus on some single dominant value. A key idea is that contract law should teach and employ certain moral principles when applied to legal issues related to enforceability, remedies, offer and acceptance, and nondisclosure. With respect to each issue, the author compares his proposed resolution with the prevailing current law.

For developing countries, a stable and secure supply of electricity is crucial for industrial and commercial development, and for the well-being of their populations. Since the early 1990s, the main mechanism for constructing power generation facilities in developing countries has been the independent power project (IPP) model, where a foreign private entity enters into long term investment contracts with host government entities. This model has succeeded in attracting investment, but raises complex regulatory and contractual challenges in addition to public concerns. This book - drawing on project contracts, available information about relevant contractual practices (including private interview sources), case law from disputes between investors and host countries, and literature commenting on the legal and economic aspects of the investment's structure - analyzes the IPP model's consequences for development. The author identifies six main consequences for development: * The IPP model has led to private investment, which has increases reliability, modernization and introduced private standards; * It contains an intrinsic structural weakness in times of economic downturns; * It has shown a tendency to lead to overinvestment in generation capacity; * It has shown a tendency to lead to to expensive and suboptimal solutions regarding choice of design and technology; * The model (and its institutional surroundings) contains insufficient disincentives against moral hazard and exploitative behavior (including corruption); and * The IPP model does not facilitate the further development of the host country's power sector. The author argues that these consequences for development can be improved without detrimentally compromising the private sector's willingness to continue to invest. While pursuing this analysis, the author also explores such issues as the following: * the web of parties and contracts constituting the IPP model; * the extent of the host country's legal obligations; * the private investors' legal investment protection, including political risk insurance; * the aggregate allocation of risk and responsibility,including to what extent foreign investors also are protected . against commercial and credit risks; * the competing needs of predictability and flexibility; * how the IPP model, and its institutional surroundings, have reacted to nummerable and * credible allegations of corruption during procurement * the role an investor's home government including its national export credit institution; * incentives as catalysts of moral hazard, observable in Indonesia's IPP program; and * identification of factors reducing, or increasing, the IPP model's tendency to fail during severe economic recessions

This book seeks to fill a gap in the existing literature by describing the formulation, interpretation and enforcement of the rules on consumer contracts in China and the EU, and by mapping key similarities and differences. The study addresses selected issues regarding consumer contracts: sources of law in the two jurisdictions are first discussed to set the scene. Afterwards, one preliminary issue - how to define the concept of a consumer contract - and two substantive topics - unfair terms and withdrawal rights - are dealt with. Apart from the descriptive analysis, the book also provides possible explanations for these comparative findings, and argues that the differences in consumer contract rules can be primarily attributed to a disparity of markets. The book offers a valuable resource, particularly for researchers and practitioners in the fields of private law and comparative law.

This book explores the evolution of contract law in England, France, Germany and Italy during the last one hundred years from the perspectives of law and its context. Dr Niglia's treatment of contract law is fundamentally distinct from that in legal comparativist studies. It reassesses classical descriptive, analytical and normative positions and thoroughly submits that contract law is not a legal abstraction. It is part of a more concrete story of societal developments, the reflection of each polity's legal and political order. In particular, the book discovers an interaction between the core area of contract law, the law of standard form contracts, and the socio-economic and political history of the past century of England, France, Germany and Italy. As such, it is argued that the law has been strongly influenced by defining state 'choices' about the citizenry's welfare and security. The key argument is provided that during the course of the last decade--as a result of the epoch-making impact of Community 're-regulatory' processes--a major transformation of the legal structure has been gaining ground, alas yet unnoticed in legal comparative studies. In the first instance, the book engages those interested in contract law and its 'Europeanisation', in the law of standard form contracts, and in comparative and economico-legal aspects of contract law. However, this book will also interest the reader expert in Community law, even if unconcerned with contract law. It is a studious investigation into one of the 'underworlds' of which European integration is composed. It looks at certain aspects which are central to Community consumer policy, and it presents an in-depth analysis of themaking and enforcement of the directive on unfair terms in consumer contracts.

This book explores the intellectual history of contract law in ancient China by employing archaeological and empirical methodologies. Divided into five chapters, it begins by reviewing the origin of the contract in ancient China, and analyzing its name, primary form, historical premise and functions. The second chapter discusses free will and lawfulness in the establishment of a contract, offering insights into the impact of contracts on social justice. In turn, the third chapter addresses the inner core of the contract: validity and liability. This allows readers at all levels to identify the similarities and differences between contracts from different eras and different parts of the world, which will also benefit those pursuing comparative research in related fields. Chapters four and five offer a philosophical exploration of contract history in ancient China, and analyze key aspects including human nature and ethical justice.

The book provides a comparative analysis of the law relating to remedies for breach of contract. It examines different remedies such as specific performance and damages,doing so from the viewpoint of different legal systems, principally the English, American, German, French and Israeli. Each essay is written by a recognised specialist in his or her own field. Topics covered include the relationship between substantive rights and contract remedies, the recent reforms of the law relating to breach of contract in Germany, the remedies in the context of a third party beneficiary and the extent to which a claimant can choose the remedy which he or she deems to be the most appropriate. The book also makes use of a range of techniques, particularly economic analysis, when examining the legal rules. The book contains an introductory essay written by the editors and an essay by Professor Friedman, which deals with the relationship between substantive rights and contract remedies.

The law of restitution has developed apace, taking its doctrinal starting point for the most part from the principle of unjust enrichment. This principle, however, has proved itself to be theoretically unstable, particularly in respect of the proper relationship of restitution with other bodies of law. This book is an account of the law of restitution which provides coherence in its relationships with other areas of private law, reflects a consistent theoretical underpinning, and offers an organisation of the law which is not solely dependent on theory but which also reflects a contextual coherence. One important consequence of this reformulation is that the subject matter which falls properly within the ambit of the law of restitution is considerably less than is currently supposed. Although directed to the substantive law of New Zealand, the book is an important contribution to the developing theoretical organisation of the law and extends far beyond that jurisdiction.

The book provides a broad and topical perspective of the sources of modern contract law. It examines the creation of contract law as a multi-pronged occurrence that involves diverse types of normative content and various actors. The book encompasses both a classical perspective on contract law as a state-created edifice and also delves into the setting of contractual rules by non-state actors. In so doing, the volume thoroughly analyses present-day developments to make sense of shifting attitudes towards the overall regulatory paradigm of contract law and those that reshape the classic view of the sources of contract law. The latter concerns, in particular, the digitalisation of markets and growing trends towards granularisation and personalisation of rules. The book builds on the EU private law perspective as its primary point of reference. At the same time, its reach goes far beyond this domain to include in-depth analysis from the vantage points of general contract theory and comparative analysis. In so doing, it pays particular attention to theoretical foundations of sources of contract law and values that underpin them. By adopting such diversified perspectives, the book attempts to provide for a better understanding of the nature and functions of present-day contract law by capturing the multitude of social and economic dynamics that shape its normative landscape. The volume gathers a unique and distinguished group of contributors from the EU, USA and Israel. They bring research experience from various areas of private law and contribute with diverse conceptual perspectives.

Our modern insistence on democratic social values has engendered an intense debate over the intersection of fundamental rights and contract law. In particular, case law in several European national jurisdictions has exerted significant pressure on traditional contract law instruments to conform more transparently with the fundamental rights enshrined in the EC Charter. This pressure is clearly evident in a number of societal areas subject to contract law, among them employment, housing, and privacy. It can even be argued, as this author does, that fundamental rights intermediate between politics and law.Taking its cue from many initiatives toward the development of a more coherent, even harmonised, European contract law, this book is the first major study to examine the following essential questions with detailed reference to actual judicial developments: To what extent do fundamental rights affect contract law? In which types of cases can fundamental rights be applied? What does the explicit consideration of fundamental rights add to contract law adjudication? The author approaches the analysis along two different avenues: first, a comparative overview of developments in case law, and second, a more general theoretical view on the interaction between fundamental rights and rules of contract law which is tested against examples from various legal systems. The focus throughout is on developments in case law, because the impact of fundamental rights in contract law has been felt on the level of dispute resolution rather than on the level of legislation.Germany and the Netherlands are chosen because their judiciaries have been notable for their early and continuing attention to the theme, and England and Italy for perspectives on developments under common law and civil law systems respectively. For its reframing of old questions and its insightful delimitations of new ones, this book offers a fresh and deeply informed new perspective on this important area of developing law. The discussion, moreover, has received an additional impulse from the debate leading up to the recent agreement on a Reform Treaty regarding the institutional settlement of the Union, which will give a legally binding status to the Nice Charter. For these reasons and others, the book will be of great value to all interested parties in government, business, and legal practice.

This textbook examines the legal and regulatory approaches to digital assets and related technology taken by United States regulators. As cryptoassets and other blockchain applications mature, and regulatory authorities work hard to keep pace, Daniel Stabile, Kimberly Prior and Andrew Hinkes invite students to consider the legal approaches, challenges and tension points inherent in regulating these new products and systems. The authors explore the attempts to apply securities laws and money transmission regulation, the growth of smart contracts, the taxation of digital assets, and the intersection of digital assets and criminal law. This innovative and unique textbook features: Commentary and analysis by three leading attorneys engaged with the regulation of digital assets and blockchain technology, offering practical, real-world acumen A comprehensive overview of the origins, key features and mechanisms of blockchain technology, as well as a broad intimation of the divisive debates that will shape the future of digital assets, to guarantee a thorough introduction to the topic for students Excerpts of authorities and other materials from key regulators, including the Financial Crimes Enforcement Network, the Securities and Exchange Commission, the Commodities Futures Trade Commission, and the Internal Revenue Service, to add insight and nuance to classroom discussions. In this, the first textbook of its kind, students of law, business, or technology will find crucial insights into the law and regulation of blockchain and a comprehensive overview of significant public debates on the topic.

Everything you need from your Contract Law textbook in one leading text. Elliott & Quinn's Contract Law, 12th edition is the leading text for law students, coming from an expert author team known for making the subject easy to understand without compromising on academic rigour. This accessible textbook provides a straightforward coverage of the fundamental legal principles of the subject. It also presents an in-depth discussion of all key cases and their principles, prompting you to practice and apply them to exam-style questions, giving you the opportunity to understand how the law operates in the real world. The book also encourages you to develop your own views on the effectiveness of the current laws and get an overview of future reform options. The latest edition also includes: A new 'The Bigger Picture' feature that highlights the legal issues behind high-profile news stories, helping you to see the real-world application of the law. New essay and problem questions, with answer guidance also available online to support your revision. Revamped end of chapter summaries, for easy revision. Free access to a companion website with additional resources to support your study, available at www.pearsoned.co.uk/elliottquinn. With a plethora of useful study features and case examples, this text offers the knowledge and support you need to excel in your course.

In the past few decades, scholars have offered positive, normative, and most recently, interpretive theories of contract law. These theories have proceeded primarily (indeed, necessarily) from deontological and consequentialist premises. In A Theory of Contract Law: Empirical Understandings and Moral Psychology, Professor Peter A. Alces confronts the leading interpretive theories of contract and demonstrates their interpretive doctrinal failures. Professor Alces presents the leading canonical cases that inform the extant theories of Contract law in both their historical and transactional contexts and, argues that moral psychology provides a better explanation for the contract doctrine than do alternative comprehensive interpretive approaches.

To provide valuable legal service to persons in today's Europe, practitioners must be conversant in both national and transnational law. At the European level, the Principles of European Contract Law (PECL) are an increasingly important element of contract law, together with national contract law, as contained in Civil Codes and various national statute. Accordingly, Kluwer Law International has initiated a series of volumes, under the direction of Prof. Hondius of the University of Utrecht, comparing PECL with the most important European legal systems. This volume on Italian law is the second in the series. Using a straightforward comparative method, the editors' analysis not only reveals a significant area of convergence between the PECL and Italian contract law, but also highlights the main differences between the two bodies of rules. The book provides complete texts, with annotations, of the PECL and the corresponding Italian rules. The presentation proceeds as follows: general provisions (scope of application, general duties, terminology); formation of contracts (general provisions, offer and acceptance, liability for negotiations); authority of agents (general provisions, direct and indirect representation); validity; interpretation; contents and effects; performance; non-performance and remedies in general; and, particular remedies for non-performance (right to performance, withholding performance, termination of the contract, price reduction, damages and interest). The book is a valuable handbook and guide for both foreign and Italian lawyers. For non-Italian lawyers, be they practitioners or academics, it provides a concise but complete and up-to-date outline of current Italian contract law, organized on the basis of a system (PECL) with which many European lawyers are familiar. For Italian lawyers, it offers a clearer insight into a wider European legal contract system whose importance in the evolution of a common European private law is growing rapidly.

The purpose of this book is to honour the influential and wide-ranging work of Professor Hugh Beale. It contains essays by twenty-five very distinguished authors, each of whom has worked with Professor Beale as a co-author, as a teaching colleague, during his time as Law Commissioner of England and Wales, or as part of the study groups working in Europe on contract and commercial law. The essays reflect different aspects of Professor Beale's interests. Some concentrate on English contract law, either from a historical or a current perspective, while others are focused on aspects of European contract law. There are four essays looking at current issues relating to security and financing, and, as befits a former Law Commissioner, three essays on law reform. The essays in the final section discuss trends in transnational and European commercial law. This book brings together the reflections of eminent writers from all over Europe on important issues facing contract and commercial law and will be of interest to all scholars and practitioners working in these areas.

Two major developments in European Private and European Business Law come together when we speak about "Constitutional Values and European Contract Law." European Contract Law has become extremely dynamic over the last 10 years, both in substance and perspective: all core areas are considered now in legal science and in EC legislation, and there are even the prospects of some kind of codification.
On the other hand, constitutional values and their impact on private law have been an issue of high concern in major Member States over decades, namely Italy and Germany, but as well the Netherlands - hence the strong presence of scholars and practising lawyers from these countries in this book. Constitutional values have, however, found their way to the EC level and the national discussions have inspired a European one, with three core values discussed:
- Fundamental Freedoms,
- Fundamental rights and
- Constitutional system building principles- such as the social welfare state or the rule of law.
Their impact on private law can be sensed nowadays quite considerably also on the European level. These fundamental values are often seen as the ingredient, which renders European Private Law, namely European Contract Law, more responsive to social values or more "humane."
For all these reasons, the book combines comparative law, EC Law and interdisciplinary approaches to the question "Constitutional Values and European Contract Law." Outstanding scholars from six Member States and beyond - quite a few also practising lawyers - discuss the issue and do so for the first time on such a broad and all encompassing basis.

This book advocates a new way of thinking about mortgage contracts. This claim is based on the assumption that we currently live in a political economy in which consumer debt fulfils a social function. In the field of housing this is evidenced by the expansion of mortgage credit through which consumers are to purchase residential property as a means of social inclusion and personal welfare. It is suggested that contract law needs to adjust to this new social function in order to avoid welfare losses in terms of default, over-indebtedness, and possibly eviction. To this end, this book analyses theoretical contract law frameworks and makes concrete proposals for contract law in the EU legal order.

The Research Handbook on EU Consumer and Contract Law takes stock of the evolution of this fascinating area of private law to date and identifies key themes for the future development of the law and research agendas. This major Handbook brings together contributions by leading academics from across the EU on the latest developments and controversies in these important areas of law. The Handbook is divided into three distinct and thematic parts: firstly, authors examine a range of cross-cutting issues relevant to both consumer and contract law. The second part discusses specific topics on EU consumer law, including the consumer image within EU law, information duties and unfair contract terms. The final part focuses on a number of important subjects which remain current in the development of EU contract law and presents a number of innovative solutions to the challenges presented in parts one and two. This timely and insightful Handbook will provide both a comprehensive survey of this area of law for the novice researcher and fresh food-for-thought for scholars who have been researching this area of law for many years. Contributors include: E.A. Amayuelas, H. Beale, J.M. Bech Serrat, C. Busch, R. Canavan, P. Cartwright, O.O. Cherednychenko, G. Comparato, G. Cordero-Moss, A. Cygan, L. Gillies, M. Graziadei, M.W. Hesselink, G. Howells, C. Mak, V. Mak, H.-W. Micklitz, B. Pozzo, P. Rott, J. Rutgers, J.M. Smits, Y. Svetiev, E.T.T. Tai, C. Twigg-Flesner, W.H. van Boom, J. Watson, F. Zoll

An historical analysis of the development and reform of the law of prior obligations as expressed in preexisting duty rule and past consideration rule. Teeven's principal focus is on the judicial rationalization of common law reforms to partially remove the bar to enforcement of promises grounded in the past. This study traces American deviations from English common law doctrine over the past two centuries in developing theories to overcome traditional impediments to recovery presented by the law of prior obligations. It also explores ideas for further reforms found buried in past case law. The growing unease with both the dashing of legitimate consensual expectations and the perceived unfairness to naive, ill-informed, and otherwise disadvantaged parties served as the impetus for liberalization of the exclusive contract bargain test. The resultant reforms adhered to the modern realist emphasis on fairness. The expansion of contractual liability to include promises looking to the past encompasses some of the most important reforms of the consideration contract since its genesis. As a consequence, contractual liability can no longer be defined solely in terms of bargain consideration since contract law now includes a broader range of promissory liability.

Recent leading cases have demonstrated the urgent need to modernize the learning on breach of trust,which has lagged behind the flourishing scholarship on the creation of trusts. Since breach of trust or fiduciary duty occupies the centre of the legal stage, it comes as a surprise that, although one or two novelists have chosen 'Breach of Trust' as the title to their book, no lawyer has so far thought it necessary to produce a specialized work on the subject. To fill the gap, this book, written by a team of leading trust lawyers from a number of common law jurisdictions, investigates all the principal aspects of the subject. The nature of the trustee's duties and of the liability for breach is closely examined, and all available defences and excuses are reviewed. Two substantial chapters consider the consequences of assisting a breach or receiving trust property from a trustee acting in breach. The book closes with a critical overview of the entire topic. CONTENTS: 1 Robert Chambers 'Liability for Breach'; 2 Joshua Getzler 'The Duty of Care'; 3 Edwin Simpson 'The Conflict of Interest'; 4 David Fox 'Overreaching'; 5 Lionel Smith 'Property Transferred in Breach'; 6 Charles Mitchell 'Assistance'; 7 Peter Birks 'Receipt'; 8 James Penner 'Exemption clauses'; 9 John Lowry and Rod Edmunds 'Honest and Reasonable Breach'; 10 Jennifer Payne 'Consent'; 11 William Swadling 'Limitation'; 12 Gary Watt 'Laches, Estoppel and Election'; 13 David Hayton 'An Overview'.

As usage of the NEC (formerly the New Engineering Contract) family of contracts continues to grow worldwide, so does the importance of understanding its clauses and nuances to everyone working in the built environment. This set of contracts, currently in the third edition, is different to others in concept as well as format, so users may well find themselves needing a helping hand along the way. Understanding the NEC3 Engineering and Construction Short Contract uses plain English to lead the reader through the contract's key features, including: the use of early warnings programme provisions payment compensation events preparing and assessing tenders Common problems are signalled to the reader throughout, and the correct way of reading each clause explained. In addition, the things to consider when deciding between the ECSC and the longer Engineering and Construction Contract are discussed in detail. Written for professionals without legal backgrounds, by a practicing construction contract consultant, this handbook is the most straightforward, balanced and practical guide to the NEC3 ECSC available. An ideal companion for Employers, Contractors, Project Managers, Supervisors, Engineers, Architects, Quantity Surveyors, Subcontractors, and anyone else interested in working successfully with the NEC3 ECSC.

Landmark Cases in the Law of Contract offers twelve original essays by leading contract scholars. As with the essays in the companion volume, Landmark Cases in the Law of Restitution (Hart, 2006) each essay takes as its focus a particular leading case, and analyses that case in its historical or theoretical context. The cases range from the early eighteenth - to the late twentieth - centuries, and deal with an array of contractual doctrines. Some of the essays call for their case to be stripped of its landmark status, whilst others argue that it has more to offer than we have previously appreciated. The particular historical context of these landmark cases, as revealed by the authors, often shows that our current assumptions about the case and what it stands for are either mistaken, or require radical modification. The book also explores several common themes which are fundamental to the development of the law of contract: for instance, the influence of commercial expectations, appeals to 'reason' and the significance of particular judicial ideologies and techniques.This book contains a collection of new and original articles on the famous contract cases. It includes contributions from well-established scholars analysing both current and historical aspects of contract law. The analysis of the cases will be of interest to barristers, academics and judges.

This book examines the main issues arising in economic analysis of contract law with special attention given to the incomplete contracts. It discusses both the main features of contract law as they relate to the problem of economic exchange, and how the relevant legal rules and the institutions can be analysed from an economic perspective. Evaluate the welfare impacts, analyses the effects and the desirability of different breach remedies and examines the optimal incentive structure of party-designed liquidated damages under the different dimensions of informational asymmetry. Overall the book aims to contribute to the legal debate over the adoption of the specific breach remedies when the breach victim's expectation interest is difficult to assess, and to the debate over courts' reluctance to implement large penalties in the event of breach of contracts.

This comprehensive book offers a thoughtful survey of theories, issues and cases in order to reassess the present vision of contract law. Comparative refers both to the specific kind of methodologies implied and to the polyphonic perspectives collected on the main topics, with the aim of superseding the conventional forms of representation. In this perspective, the work engages a critical search for the fault lines, which crosses traditions of thought and globalized landscapes. Notwithstanding contract's enduring presence and the technicalities devoted to managing clauses and interpretation, the inquiry on the proper nature of contract and its status and collocation within private legal taxonomies continues to be a controversial exercise. Moving from a vast array of dissimilar inclinations, which have historically produced heterogeneous maps of law, this book is built around the genealogies of contractual theoretical thinking; the contentious relationship between private governance and normative regulations; the competing styles used to stage contract law; the concurring opinions expressed within the domain of other disciplines, such as literature and political theory; the tensions between global context and local frames; and the movable thresholds between canonical expressions and heterodox constructions. For its careful analysis and the wide range of references employed, Comparative Contract Law will be a tremendous resource for academics, legal scholars and interdisciplinary experts as well as judges and law practitioners. Contributors include: G. Bellantuono, B.H. Bix, D. Carpi, C.L. Cordasco, C. Costantini, S. Fiorato, J. Gordley, M. Granieri, A. Hutchison, M.R. Marella, G. Marini, P.G. Monateri, F. Monceri, P. Moreno Cruz, H. Muir Watt, F. Parisi, P. Pardolesi, G. Samuel