Equity, Efficiency, and Ethics in Remedies for Breach of Contract: Theory and Experimental Evidence

This book examines the conflict that arises between parties after a breach of contract and how different legal remedies can best reduce conflict. It provides empirical evidence from laboratory experiments for how individuals react to perceived wrongful acts and the function of legal remedies to reduce retaliation. It also offers a comparative law and economic analysis of remedies for breach of contract adopted in different leading jurisdictions, with important normative implications for the American insistence on expectation damages, the French expansion of specific performance with astreinte, the German junction of specific performance, expectation damages, and disgorgement damages, and the British timid acceptance of partial disgorgement damages.

Format: Hardback
Length: 228 pages
Publication date: 03 December 2022
Publisher: Springer International Publishing AG

This comprehensive book delves into the intricate dynamics that arise between parties after a breach of contract, exploring the various legal remedies available to mitigate conflict. It examines the underlying causes of conflict, including equity, efficiency, and ethical considerations, which parties may use to assign blame or justify breach. Recognizing the potential for escalation, the book emphasizes the importance of resolving conflicts through apologies or renegotiation to prevent aggrievement and retaliatory behavior.

Through empirical evidence derived from laboratory experiments, the book sheds light on how individuals respond to perceived wrongful acts, such as contract breaches. It further elucidates the role of legal remedies in reducing retaliation by disappointed promisees, offering them compensation. The book's findings challenge the notion that inefficiency alone drives aggrievement and retaliation, highlighting the significance of outcome inequality in these responses.

In conclusion, this book offers a comprehensive analysis of the conflict that ensues after contract breaches, providing valuable insights into legal remedies and their impact on mitigating conflict. It appeals to scholars, researchers, and students of economics and law, seeking a deeper understanding of remedies for breach of contract. By examining the interplay between equity, efficiency, ethics, and legal mechanisms, the book contributes to the ongoing discourse on contract law and its implications in various jurisdictions.

Weight: 547g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031108037
Edition number: 1st ed. 2022