Contrast this view with economic theory of contract breach

Reference no: EM131227450

Consider the following theory of contractual obligations, due to CharlesFried: "There exists a convention that defines the practice of promising and its entailments. . . . By virtue of the basic Kantian principles of trust and respect, it is wrong to invoke that convention in order to make a promise, and then to break it" (Craswell and Schwartz 1994, 14). Contrast this view with the economic theory of contract breach.

Reference no: EM131227450

Questions Cloud

Andre creates a budget for himself : Andre creates a budget for himself. He would like to buy a new video game each month, but doesn't have enough money to do so in his current budget. Which parts of Andre's budget could he increase to have enough money for the new video game each mo..

Is the buyer''s early knowledge of treaty socially valuable : How should the court rule in this case? How would your answer be affected (if at all) by knowledge about the manner in which the information was acquired?

Provide naics code associated with industry average data : Company Website: Paste the URL to the company's website. Industry name and NAICS Code: Provide the name and NAICS code associated with the Industry Average data.

Role of credit ratings in mortgage market : Role of Credit Ratings in Mortgage Market:- Explain the role of credit rating agencies in facilitating the flow of funds from investors to the mortgage market.

Contrast this view with economic theory of contract breach : By virtue of the basic Kantian principles of trust and respect, it is wrong to invoke that convention in order to make a promise, and then to break it" (Craswell and Schwartz 1994, 14). Contrast this view with the economic theory of contract breac..

Avoiding another credit crisis : Avoiding Another Credit Crisis : - Do you think that the U.S. financial system will be able to avoid another credit crisis like this in the future?

Demand for your product has been estimated to be : The demand for your product has been estimated to be. The relevant price and income data are as follows: a. Which goods are substitutes for X? Which are complements? b. Is X an inferior or a normal good?

Discuss the implications of the coase theorem : Traditional contract law treats breach of contract and discharge due to impossibility or commercial impracticability as distinct problems. Explain the sense in which economic theory views them as variants of a single problem where the relevant que..

Blame for credit crisis : Many investors that purchased mortgage-backed securities just before the credit crisis believed that they were misled because these securities were riskier than they thought. - Who is at fault?

User Account

All Pages