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- Title
RENEGOTIATION AND SPECIFIC PERFORMANCE.
- Authors
LEWIS, TRACY R.; PERRY, MARTIN K.; SAPPINGTON, DAVID E. M.
- Abstract
The article presents an analysis of the impact of enforcing specific performance for attempted breach of contract in a model of renegotiation. It explores how enforcement of specific performance can lead to an increased level of social welfare in a case where monetary damages for breach of contract are allowed. Details about specific performance are provided as well as the possible incentive features it may offer. Though it is not a solution for breach of contract cases, specific performance is said to be enforced when monetary damages are not enough to remedy such case. Information on the renegotiation process is also offered.
- Subjects
BREACH of contract; CONTRACT negotiations; RENEGOTIATION; SPECIFIC performance; PERFORMANCE (Law); DAMAGES (Law)
- Publication
Law & Contemporary Problems, 1989, Vol 52, Issue 1, p33
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1191895