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- Title
BARGAINING IN THE SHADOW OF THE LAWSUIT: A SOCIAL NORMS THEORY OF INCOMPLETE CONTRACTS.
- Authors
Hill, Claire A.
- Abstract
The article focuses on the inefficiency of business contracts in the U.S. It highlights the incapability of contracts to stipulate the concerns of both parties entering into an agreement. The contracts have been deemed to contain ambiguity and inartful language which makes it difficult to express the terms and conditions during litigation. It explores the importance of business contracts because they preserve the relationship of parties and serve as an instrument in resolving disputes. In related terms, the contract can be used as basis in case of lawsuit.
- Subjects
UNITED States; MANAGEMENT contracts; ACTIONS &; defenses (Law); PARTIES to actions; DISPUTE resolution; AMERICAN business enterprises; CONDITIONS (Law); AMBIGUITY; LANGUAGE &; logic
- Publication
Delaware Journal of Corporate Law, 2009, Vol 34, Issue 1, p191
- ISSN
0364-9490
- Publication type
Article