Common Law, Statute Law and Economic Efficiency

2002 ◽  
pp. 313-317 ◽  
Author(s):  
Richard E. Wagner
Keyword(s):  
Economic Efficiency ◽  
Common Law

Economic efficiency and the common law

2004 ◽  
Vol 32 (1) ◽  
pp. 39-48 ◽  
Author(s):  
Thomas J. Webster
Keyword(s):  
Economic Efficiency ◽  
Common Law ◽  
The Common

1. Introduction and fundamental themes

2021 ◽  
pp. 1-11
Author(s):  
Paul S. Davies
Keyword(s):  
Economic Efficiency ◽  
Common Law ◽  
Contract Law ◽  
Private Law ◽  
Freedom Of Contract ◽  
Will Theory ◽  
First Time

This introductory chapter provides a brief overview of the fundamental elements of what constitutes a contract. It discusses undertakings or promises, deeds, written and oral promises, bargains, and bilateral and unilateral contracts. It concludes by examining some general themes in contract law to which reference will be made throughout the present title. These include freedom of contract, will theory, economic efficiency, objectivity in contract law, common law and equity, contract law within private law, and international influences on contract law. The outline provided in this chapter is necessarily brief; although some of the themes may seem a little difficult in the abstract, students approaching this subject for the first time should not be troubled. The concepts will become familiar and more easily understood through concrete examples provided in later chapters.

scholarly journals ‘The fugitive’: The figure of the judge in Coase's economics

2014 ◽  
Vol 11 (2) ◽  
pp. 413-435 ◽  
Author(s):  
ELODIE BERTRAND
Keyword(s):  
Property Rights ◽  
Economic Efficiency ◽  
Social Cost ◽  
Common Law ◽  
Economic Consequences ◽  
The Other ◽  
Public Intervention ◽  
Theoretical System ◽  
The Common ◽  
Normative Role

Abstract:‘The Problem of Social Cost’ (Coase, 1960) asserts a normative role for the common law judge, that of taking into account the economic consequences of his decisions in allocating property rights. This position is often accused of inconsistency: Coase sees the figure of the judge as willing and able to improve economic efficiency, but criticises the actors of public intervention, particularly regulators, for being fallible, vulnerable to political pressures, and lacking information. I shall show that Coase's giving this role to the judge stems precisely from his criticism of public intervention. This means that his figure of the judge escapes the tenets of the theoretical system that first rendered it necessary. Various reasons could explain this difference of treatment as between the judge and the other figures of public intervention in Coase's system, but Coase makes too strong an opposition between common law on one side and regulatory and statutory law on the other, and leaves unexplained the motivation of judges.

scholarly journals Common Law and Economic Efficiency

2012 ◽  
Author(s):  
Todd J. Zywicki ◽  
Edward Peter Stringham
Keyword(s):  
Economic Efficiency ◽  
Common Law

1. Introduction and fundamental themes

2018 ◽  
Author(s):  
Paul S. Davies
Keyword(s):  
Economic Efficiency ◽  
Common Law ◽  
Contract Law ◽  
Private Law ◽  
Freedom Of Contract ◽  
Will Theory ◽  
First Time

This introductory chapter provides a brief overview of the fundamental elements of what constitutes a contract. It discusses undertakings or promises, deeds, written and oral promises, bargains, and bilateral and unilateral contracts. It concludes by examining some general themes in contract law to which reference will be made throughout the present title. These include freedom of contract, will theory, economic efficiency, objectivity in contract law, common law and equity, contract law within private law, and international influences on contract law. The outline provided in this chapter is necessarily brief; although some of the themes may seem a little difficult in the abstract, students approaching this subject for the first time should not be troubled. The concepts will become familiar and more easily understood through concrete examples provided in later chapters.

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