Opportunism, hold-up and the (contractual) theory of the firm

This paper considers the role of opportunism in three contractual theories of the firm: rent-seeking theory, property rights theory, and agency theory. In each case I examine whether it is possible to have a functioning contractual theory of the firm without recourse to opportunism. Without opportunism firms may still exist as a result of issues arising from (incomplete) contracting. Far from posing a problem for the theory of the firm, questioning the role of opportunism and the ubiquity of the hold-up problem helps us understand more about the purpose and functions of contracts which go beyond mere incentive alignment.

Contractual termination of leases: lessons from the Commonwealth - Part 1

In the first of a three-part article, the writers consider the extent to which the contractual termination of a lease by frustration and acceptance of a repudiatory breach has been accepted in Commonwealth case law, notably Canada, the United States and Australia.

Contractual termination of leases: lessons from the Commonwealth - Part 2

In the second part of this article, the writers examine how far the English courts have acknowledged the application of the doctrine of frustration and acceptance of repudiation in the leasehold context.

Contractual termination of leases: lessons from the Commonwealth - Part 3

In the final part of this article, the writers consider the interrelation between contractual termination and the various statutory provisions governing forfeiture and termination of a business tenancy under Pt II of the Landlord and Tenant Act 1954. The article concludes by suggesting that termination by acceptance of a repudiatory breach is not only a welcome, but necessary incursion into leasehold law in order to provide tenants with the ability to end the lease in cases of serious landlord default.

How habits, social ties, and economic switching barriers affect customer loyalty in contractual service settings

While existing literature acknowledges positive effects of satisfaction and economic switching barriers for building customer loyalty, studies analyzing interactions of these antecedents reveal mixed findings. Prior research does not consider, as antecedents of switching barriers, either habits or social ties that result from shared service-usage within a family or community. This paper contributes to the literature, first, by replicating the effects of satisfaction, economic switching barriers, and their interaction with customer loyalty and word-of-mouth of subscribers to a contractual service. Second, the study empirically tests the role of social ties as a social switching barrier. Third, the study introduces and tests the effects of habits as a precursor of economic and social switching barriers. Results reveal significant positive effects of satisfaction, economic switching barriers, and social ties on customer loyalty and word-of-mouth. Additionally, economic switching barriers and social ties interact significantly with satisfaction and habits act as a precursor of economic switching barriers and social ties.

Claims for non-contractual services

The paper argued that the basis of non-contractual claims was reliance rather than unjust enrichment, criticising the unjust enrichment explanation as being premised on a number of unnecessary legal fictions which also undermine the more general coherence of unjust enrichment.

Strategic innovation through outsourcing:the role of relational and contractual governance

There is growing evidence that client firms expect outsourcing suppliers to transform their business. Indeed, most outsourcing suppliers have delivered IT operational and business process innovation to client firms; however, achieving strategic innovation through outsourcing has been perceived to be far more challenging. Building on the growing interest in the IS outsourcing literature, this paper seeks to advance our understanding of the role that relational and contractual governance plays in achieving strategic innovation through outsourcing. We hypothesized and tested empirically the relationship between the quality of client-supplier relationships and the likelihood of achieving strategic innovation, and the interaction effect of different contract types, such as fixed-price, time and materials, partnership and their combinations. Results from a pan-European survey of 248 large firms suggest that high-quality relationships between clients and suppliers may indeed help achieve strategic innovation through outsourcing. However, within the spectrum of various outsourcing contracts, only the partnership contract, when included in the client contract portfolio alongside either fixed-price, time and materials or their combination, presents a significant positive effect on relational governance and is likely to strengthen the positive effect of the quality of client-supplier relationships on strategic innovation.

A szervezet kockázati attitűdjének jelentősége a szerződéses kapcsolatokban (Significance of the organizational risk attitude on the contractual relations)

A tanulmány azt vizsgálja, milyen befolyással van a szervezetek kockázati attitűdje az általuk kötött szerződésre, elsősorban a projektszintű kockázatok megosztására. Esettanulmányként egy PPP-projekt szerződését használja fel, amely jól szemlélteti, hogy az eltérő kockázati magatartású szervezetek egymás közötti kockázatallokációja eltér az optimálistól. A konkrét esetben a közösségi aktor kerül kockázati aspektusból hátrányos helyzetbe. A vizsgálat eredménye, hogy meghatároz néhány kulcsparamétert, melyek a felek kockázati szempontból nyertes vagy vesztes pozícióját döntő módon befolyásolják. ___________ This paper examines the influence of the risk attitude of organizations on the contracts made by them, especially on allocation of the project level risk. A PPP project contract is used as a case study, because it illustrates expressively that the risk allocation between the concerned organiza tions with different risk attitudes differs from the optimal version. In this very case the public actor's position becomes disadvantageous. Specification some of the key parameters able to determine the winner or loser position of the risk taken parties is defined as the outcome of this study.

Riesgo contractual. La teoría de los riesgos en el derecho privado colombiano

Este texto plantea, desarrolla y propone posibles soluciones al problema del riesgo en el contrato. Su objeto de estudio es la teoría de los riesgos. Como se sabe, el contrato está sometido a una serie de contingencias y vicisitudes, entre ellas, la imposibilidad fortuita de cumplimiento, la cual ocupa un lugar privilegiado. El hecho de que una circunstancia ajena a la esfera de control de las partes causa extraña impida la ejecución de una presentación contractual, plantea importantes problemas jurídicos que deben ser resueltos a la luz de los criterios normativos correspondientes. Pero dichos criterios son imprecisos, contradictorios y, en algunos casos, inequitativos. En consecuencia, es necesario identificar las normas jurídicas que regulan el problema del riesgo contractual, precisar su ámbito de aplicación civil o comercial, exponer sus efectos y, llegado el caso, plantear una serie de críticas a las disposiciones legales. En ese sentido, los autores llegan a la conclusión de que ciertas normas civiles, atinentes a la teoría de los riesgos, son inconstitucionales. Por eso proponen su inaplicabilidad.

Impulso de la legislación contractual de la República Popular China sobre las transacciones e inversiones económicas de naturaleza internacional celebradas en China

375 p.

De la reticencia en el contrato de seguro: un estudio sobre la inobservancia al principio de la buena fe contractual y sus consecuencias

42 p.

Contractual variations and promises to accept less:pragmatism in the Court of Appeal

Examines the Court of Appeal judgment in MWB Business Exchange Centres Ltd v Rock Advertising Ltd on whether a non-oral variation clause in a licence for the occupation of a commercial premises necessarily precluded an oral agreement to revise the licence fee payment schedule. Assesses whether the practical benefit obtained by the claimant from the change amounted to good consideration, notwithstanding the House of Lords ruling in Foakes v Beer.

Improving the Efficiency of the South Carolina Real Estate Commission's License Renewal Process

The goal of this project is to increase the amount of successful real estate license renewals while reducing the disruption caused by manual processing and calls for assistance with renewals and technical issues. The data utilized in this project will demonstrate that the Real Estate Commission renewal process can be improved by utilizing electronic resources such as more detailed website information and repeat e-mail notices, through modifications to the online renewal process to reduce applicant error, and by increasing the visibility of online renewal log-in instructions while decreasing the visibility and use of mail-in applications.