“One of the most important contributions to the field of contract theory—if not the most important—in the past 25 years.” —Stephen A. Smith, McGill University Can we account for contract law on a moral basis that is acceptable from the standpoint of liberal justice? To answer this question, Peter Benson develops a theory of contract that is completely independent of—and arguably superior to—long-dominant views, which take contract law to be justified on the basis of economics or promissory morality. Through a detailed analysis of contract principles and doctrines, Benson brings out the specific normative conception underpinning the whole of contract law. Contract, he argues, is best explained as a transfer of rights, which is complete at the moment of agreement and is governed by a definite conception of justice—justice in transactions. Benson’s analysis provides what John Rawls called a public basis of justification, which is as essential to the liberal legitimacy of contract as to any other form of coercive law. The argument of Justice in Transactions is expressly complementary to Rawls’s, presenting an original justification designed specifically for transactions, as distinguished from the background institutions to which Rawls’s own theory applies. The result is a field-defining work offering a comprehensive theory of contract law. Benson shows that contract law is both justified in its own right and fully congruent with other domains—moral, economic, and political—of liberal society.

“One of the most important contributions to the field of contract theory—if not the most important—in the past 25 years.” —Stephen A. Smith, McGill University Can we account for contract law on a moral basis that is acceptable from the standpoint of liberal justice? To answer this question, Peter Benson develops a theory of contract that is completely independent of—and arguably superior to—long-dominant views, which take contract law to be justified on the basis of economics or promissory morality. Through a detailed analysis of contract principles and doctrines, Benson brings out the specific normative conception underpinning the whole of contract law. Contract, he argues, is best explained as a transfer of rights, which is complete at the moment of agreement and is governed by a definite conception of justice—justice in transactions. Benson’s analysis provides what John Rawls called a public basis of justification, which is as essential to the liberal legitimacy of contract as to any other form of coercive law. The argument of Justice in Transactions is expressly complementary to Rawls’s, presenting an original justification designed specifically for transactions, as distinguished from the background institutions to which Rawls’s own theory applies. The result is a field-defining work offering a comprehensive theory of contract law. Benson shows that contract law is both justified in its own right and fully congruent with other domains—moral, economic, and political—of liberal society.

Legal thinkers typically justify contract law on the basis of economics or promissory morality. But Peter Benson takes another approach. He argues that contract is best explained as a transfer of rights governed by a conception of justice. The result is a comprehensive theory of contract law congruent with Rawlsian liberalism.

The authors argue that the rules and practices of corporate law mimic contractual provisions that parties would reach if they bargained about every contingency at zero cost and flawlessly enforced their agreements. But bargaining and enforcement are costly, and corporate law provides the rules and an enforcement mechanism that govern relations among those who commit their capital to such ventures. The authors work out the reasons for supposing that this is the exclusive function of corporate law and the implications of this perspective.

Posner uses economic analysis to probe justice and efficiency, primitive law, privacy, and the constitutional regulation of racial discrimination.

Robert Nozicka s Anarchy, State, and Utopia is a powerful, philosophical challenge to the most widely held political and social positions of our age ---- liberal, socialist and conservative.

Exercises in Commercial Transactions trains the reader to deal with commerical problems. While the book deals with traditional encounters, such as employment agreements, shareholder arrangements, partnership agreements, acquisitions, stock redemptions, guarantees, and escrow agreements, its primary function is to develop the thought processes essential to practice as an effective commercial lawyer. All problems, materials and solutions are renderings of actual transactions, and each problem and solution is accompanied by Siviglia's analysis of what was done and why it was done. "The author views the contract drafter as an architect, and the student who is trained by this book will get significant insight into the lawyer's architectural role." -- New York Law Journal "The author can be proud of this book. It is carefully and well done." -- New York State Bar Journal

Integrating the current research in law, economics, sociology, game theory and anthropology, this text demonstrates that people largely govern themselves by means of informal rules - social norms - without the need for a state or other central co-ordinator to lay down the law.

This text covers the materials used in a two semester Contracts course and a Sales course covering U.C.C. article 2. It blends classic common law contract cases with 21st-century opinions and draws heavily upon the problem method of instruction. It compares and contrasts the common law of contracts, the Restatement of the Law Second-Contracts, and Uniform Commercial Code Article 2 rules, as well as the United Nations Convention on Contracts for the International Sale of Goods and the UNIDROIT Principles of International Commercial Contracts, and explores their evolution and application. It emphasizes the importance of context to the application of legal principles and discusses the overlap between the knowledge and skills of a litigator and those of a transactional attorney. The fifth edition includes updates covering further developments in the parol evidence rule and evolution of contract doctrine in the wake of technological progress in the twenty first century.