Breach of Contract

An Economic Analysis of the Efficient Breach Scenario

By:

Oliver Hofmann

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Paperback / softback

Series:

International Law and Economics

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Description

“Efficient breach” is one of the most discussed topics in the literature of law and economics. What remedy incentivizes the parties of a contract to perform contracts if and only if it is efficient? This book provides a new perception based on an in-depth analysis of the impact the market structure, asymmetry of information, and deviations from the rational choice model have, comprehensively. The author compares the two predominant remedies for breach of contract which have been adopted by most jurisdictions and also found access to international conventions like the Convention on Contracts for the International Sale of Goods (CiSG): Specific performance and expectation damages. The book illustrates the complexity such a comparison has under more realistic assumptions. The author shows that no simple answer is possible, but one needs to account for the circumstances. The comparison takes an economic approach to law applying game theory. The game-theoretic models are consistent throughout the entire book which makes it easy for the reader to understand what effects different assumptions about the market structure, the distribution of information, and deviations from the rational choice model have, and how they are intertwined.

Author Biography:

Oliver Hofmann is legal engineer and an attorney-at-law, working for Noerr LLP. He studied law at the Ludwig Maximilian University of Munich (Germany) and Stellenbosch University (South Africa). He worked at an international law firm as a lawyer (2014-2016) after completing his legal apprenticeship at the Higher Regional Court Munich (2011-2013). He was a member of the DFG-Graduate School in Law & Economics at the University of Hamburg (Germany) between 2016 and 2019 and Visiting Researcher at Yale Law School (USA) in 2017.

Release date NZ

February 12th, 2022

Author

Oliver Hofmann

Series

International Law and Economics

Pages

268

Edition

1st ed. 2021

Audience

Professional & Vocational

Illustrations

13 Illustrations, color; 54 Illustrations, black and white; VII, 268 p. 67 illus., 13 illus. in color.

ISBN-13

9783030625276

Product ID

35681626

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Breach of Contract

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