Contracts Induced by Means of Bribery: Should they be Void or Valid?
AbstractThis paper argues that contracts induced by means of bribery should be valid. Nullity and voidability decrease the incentive for voluntary disclosure, assist corrupt actors with enforcing their bribe agreements and provide leeway for abuse. Thus, they run counter to effective anti-corruption. It is argued that other instruments are more suitable for preventing corruption.
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Bibliographic InfoPaper provided by Bavarian Graduate Program in Economics (BGPE) in its series Working Papers with number 042.
Length: 17 pages
Date of creation: Feb 2008
Date of revision:
Bribery; Contracts; Corruption; Due Diligence; Enforcement; Impugnment; Liability; Leniency; Nullity; Private Law Validity; Voidability; Voluntary Disclosure (Program);
Find related papers by JEL classification:
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
- K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
- K14 - Law and Economics - - Basic Areas of Law - - - Criminal Law
- K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
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