THE THEORY OF EFFICIENT BREACH IN CONTRACT LAW

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ANSARI MEHDI

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Journal: PRIVATE LAW STUDIES Year:2011 | Volume:41 | Issue:1 Page(s): 39-58

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Title

THE THEORY OF EFFICIENT BREACH IN CONTRACT LAW

Author(s)

ANSARI MEHDI | Issue Writer Certificate

Keywords

ECONOMIC ANALYSIS OF LAWQ2

ECONOMIC EFFICIENCYQ2

EFFICIENT BREACHQ2

SPECIFIC PERFORMANCEQ2

DAMAGEQ2

Abstract

The theory of EFFICIENT BREACH states that it is socially useful to breach a contract whenever the breach would leave no party worse off, while leaving at least one party better off. In other words, economic analyses of breach are mainly concerned with situations in which breach is Pareto-superior, rather than just overall profit-maximizing. In contrast with moral theories that hold that breach of contract is morally wrong insofar as it requires one party to break a promise, the economic view regards the contractual obligation as an obligation either to perform or to pay DAMAGEs in an amount equal to the expected benefit of performance. It is generally accepted that a promisor is under both a moral and a legal obligation to perform a bargain promise. However, the theory of EFFICIENT BREACH-which is widely accepted in law and economics, and has obtained a toehold in mainstream legal sources-takes the position that breach is acceptable, and indeed should be encouraged by contract law, where the promisor’s gains from breach exceed the promisee’s losses.

Cites

FUNCTION OF REASON AND PRACTICE OF THE SAGE IN REMEDIES FOR BREACH OF CONTRACT

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APA: Copy

ANSARI, MEHDI. (2011). THE THEORY OF EFFICIENT BREACH IN CONTRACT LAW. PRIVATE LAW STUDIES, 41(1), 39-58. SID. https://sid.ir/paper/124951/en

Vancouver: Copy

ANSARI MEHDI. THE THEORY OF EFFICIENT BREACH IN CONTRACT LAW. PRIVATE LAW STUDIES[Internet]. 2011;41(1):39-58. Available from: https://sid.ir/paper/124951/en

IEEE: Copy

MEHDI ANSARI, “THE THEORY OF EFFICIENT BREACH IN CONTRACT LAW,” PRIVATE LAW STUDIES, vol. 41, no. 1, pp. 39–58, 2011, [Online]. Available: https://sid.ir/paper/124951/en

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