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Standard From Contracts

Author

Listed:
  • Katz, A.W.

Abstract

Standard form contracts are an inevitable by-product of a mass production economy. Just as fixed costs and scale economies in production lead manufacturers to develop standardized goods, those regularly engaged in business find it advantageous to standardize the terms of which they product exchange, because this saves the expense of negotiating arrangements for each individual transaction.Among legal commentators, however, form contracts have long been received with distrust, and the rules governing their interpretation have engendered considerable controversy.

Suggested Citation

  • Katz, A.W., 1997. "Standard From Contracts," Papers 97-9, Georgetown University Law Center.
    • Handle: RePEc:fth:geolaw:97-9
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    More about this item

    Keywords

    CONTRACTS ; LAW;

    JEL classification:

    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law

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