Coase-Sandor Working Paper Series in Law and Economics
Publication Date
2008
Publication Title
Law & Economics Working Papers
Abstract
A promisor is strictly liable for breaching a contract, according to the standard account. However, some cases and doctrines appear to recognize that a promisor will not be liable, or will face reduced damages, if the breach was the result of inadvertence rather than fault or willfulness. A negligence-based system of contract law can be given an economic interpretation, and it is shown that such a system is in some respects more attractive than the strict-liability system.
Number
396
Recommended Citation
Eric Posner, "Fault in Contract Law" (John M. Olin Program in Law and Economics Working Paper No. 396, 2008).
Additional Information
Chicago Unbound includes both works in progress and final versions of articles. Please be aware that a more recent version of this article may be available on Chicago Unbound, SSRN or elsewhere.