The rule against penalties in contract : an economic perspective

The rule against penalties in contract : an economic perspective

The author examines recent developments in the law of liquidated damages and penalties, and argues for the abolition of the penalty doctrine in the law of contract. He considers questions of optimal breach of contract and optimal allocation of risk, and concludes that parties on equal terms should b...

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Bibliographic Details
Published in:Melbourne University law review Vol. 17; no. 4; pp. 649 - 670
Main Author: Ham, Andrew
Format: Journal Article
Language:English
Published: Melbourne University of Melbourne Law School 01-12-1990
Subjects:
BREACH OF CONTRACT
DAMAGES
AUSTRALIA
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Summary:The author examines recent developments in the law of liquidated damages and penalties, and argues for the abolition of the penalty doctrine in the law of contract. He considers questions of optimal breach of contract and optimal allocation of risk, and concludes that parties on equal terms should be allowed to agree on stipulated damages without interference from the courts.
Bibliography:2008-01-21T19:28:58+11:00
MELBOURNE UNIVERSITY LAW REVIEW, Vol. 17, No. 4, December 1990: 649-670
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MELBOURNE UNIVERSITY LAW REVIEW, Vol. 17, No. 4, December 1990, 649-670
Informit, Melbourne (Vic)
ISSN:0025-8938