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- Title
Revisiting the Efficiency Theory of Non-Contemplated Contingencies in Contract Law.
- Authors
Procaccia, Yuval
- Abstract
The article proposes a theoretical set of reasons for the contractual doctrine, with special focus on the incorporation of a notion of a non-contemplated event. It discusses a conventional economic theory of contract law, which suggests that release of a promisor is due to its desirable effect on incentives of a promise. It manifests that law of common mistake allows relief when parties share an erroneous supposition about an existing fact regarding their agreement.
- Subjects
INTERPRETATION &; construction of contracts; ECONOMICS; INCENTIVE awards -- Law &; legislation; MISTAKE (Contracts); PROMISE (Law); LAW
- Publication
Canadian Journal of Law & Jurisprudence, 2013, Vol 26, Issue 2, p415
- ISSN
0841-8209
- Publication type
Article
- DOI
10.1017/S0841820900006135