Contracts between Legal Persons
[The Handbook of Organizational Economics]
AbstractContract law and the economics of contract have, for the most part, developed independently of each other. In this essay, we briefly review the notion of a contract from the perspective of lawyer, and then use this framework to organize the economics literature on contract. The title, Contracts between Legal Persons, limits the review to that part of contract law that is generic to any legal person. A legal person is any individual, firm or government agency with the right to enter into binding agreements. Our goal is to discuss the role of the law in enforcing these agreements under the hypothesis that the legal persons have well defined goals and objectives.
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This chapter was published in: Robert Gibbons & John Roberts (ed.) , Princeton University Press, Princeton, NJ, pages , 2012.
This item is provided by Princeton University Press in its series Introductory Chapters with number 9889-23.
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Other versions of this item:
- Kornhauser, Lewis A. & MacLeod, W. Bentley, 2010. "Contracts between Legal Persons," IZA Discussion Papers 5352, Institute for the Study of Labor (IZA).
- Lewis A. Kornhauser & W. Bentley MacLeod, 2010. "Contracts between Legal Persons," NBER Working Papers 16049, National Bureau of Economic Research, Inc.
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
- D2 - Microeconomics - - Production and Organizations
- K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
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- MacLeod, W. Bentley & Parent, Daniel, 2013. "Transactions Costs and the Employment Contract in the US Economy," IZA Discussion Papers 7306, Institute for the Study of Labor (IZA).
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