An Information-Production Theory of Contract Law

Contract law affects behavior not just directly, by ordering damages, but also indirectly, by providing information on how the parties to the dispute behaved. Information from litigation can then help third parties decide whether to do business with the disputants going forward. Contract law thus af...

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Bibliographic Details
Published in:Iowa law review 2024-01, Vol.109 (2), p.603-659
Main Authors: Jacob, Assaf, Kaplan, Yotam, Shapira, Roy
Format: Article
Language:English
Subjects:
Civil law
Contracts
Efficiency
Information behavior
Laws, regulations and rules
Liability
Negligence
Reputations
Strict liability
Tort liability
Torts
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Summary:Contract law affects behavior not just directly, by ordering damages, but also indirectly, by providing information on how the parties to the dispute behaved. Information from litigation can then help third parties decide whether to do business with the disputants going forward. Contract law thus affects behavior by shaping reputations and facilitating market discipline. This Article examines contract law's liability standards, defenses, and remedies doctrines from an information-production perspective, and generates the following three contributions.
ISSN:0021-0552