Contracts between Businessmen: Planning and the Use of Contractual Remedies

Beale, Hugh; Dugdale, Tony M.

doi:10.2307/1409784

Cited by 193 publications

(44 citation statements)

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“…Beale and Dugdale (1975) described similar dynamics in the relationships between engineering firms in Bristol, England. Again, this was research conducted in the mid-1970s pre-Internet era and at least a decade before there was any notion that business exchanges could be conducted online.…”

Section: Macaulay's Behavioural Analysis Of Traditional Business Exchmentioning

confidence: 76%

Smart Contract Relations in e-Commerce: Legal Implications of Exchanges Conducted on the Blockchain

Ryan¹

2017

TIM Review

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Section: Macaulay's Behavioural Analysis Of Traditional Business Exchmentioning

confidence: 76%

Smart Contract Relations in e-Commerce: Legal Implications of Exchanges Conducted on the Blockchain

Ryan¹

2017

TIM Review

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“…In others, it is a mere handmaiden to extralegal social norms and customs. Transactions often occur in the shadow of the law, and not in its light (Macaulay 1963;Beale and Dugdale 1975;Bernstein 2001;Macaulay 2003). The specific terms giving rise to conflict, regardless of whether they are expressly chosen or mandatorily applied, may be irrelevant if the aggrieved party chooses not to rely on it, or if the parties adopt a consensual arrangement that skirts around the problematic term (Low 2010:294-295, 297-298).…”

Section: Problemistic Search: Mixed Resultsmentioning

confidence: 99%

Will firms consider a European optional instrument in contract law?

Low

2011

Eur J Law Econ

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The diversity of contract laws is said by the Commission to discourage cross-border trade and hinder the development by SMEs of a pan-European commercial policy. An optional instrument containing both facilitative general contract rules and mandatory consumer protection rules, one of the solutions proposed by the Commission, is gaining rapid support from key stakeholders. Drawing from firms' own views on the problems of legal diversity, and insights from organisational science, this article sets out the circumstances in which firms will likely consider a European optional code. Results are mixed: some firms may consider it, while others may ignore it. Much depends the firm's aspirations (i.e. SMEs cannot be assumed as-yet to have pan-European aspirations), how the firm perceives the problems of legal diversity, and how it searches for and decides upon solutions. It would appear that a European optional instrument may not be as useful or widely considered as its proponents would like to believe.

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“…A widely held view in this field is that legal rules and sanctions are marginal to contractual relations. This opinion is based on empirical studies interpreted as showing that parties to business transactions rely mostly on informal norms and "trust" instead of contract law or formal agreements (Beale and Dugdale 1975;Collins 2002: ch. 6;Macaulay 1963).…”

Section: Two Sources Of Trust and Reliability: Contracts And Regulationmentioning

confidence: 99%

“…196-197, and Ben-Ner and Putterman 2009 who provided laboratory evidence for this). In addition, many scholars seem to be sceptical about the role which the legal system can play in supporting trust and argue that parties mostly rely on informal norms instead of governmental regulation (Beale and Dugdale 1975;Collins 2002: ch. 6;Deakin 2006, p. 218;Macaulay 1963).…”

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confidence: 99%

A Question of Trust: the Pursuit of Consumer Trust in the Financial Sector by Means of EU Legislation

Jager

2016

J Consum Policy

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The decrease in consumer trust in the financial sector and the attempts to restore it are receiving a great deal of interest, especially since the financial crisis at the end of 2008. EU legislation is one of the ways that attempts have been made to regain the trust of investors. In the second section, the concept of "trust" will be subjected to an in-depth yet not exhaustive examination, with the aim of reducing its elusiveness. The third section will discuss three recent EU proposals. Examination of these legislative proposals reveals that (1) the term "trust" is not precisely defined, and (2) without stating further reasons, the restoration of trust in the financial sector is considered a worthy goal. In light of the aforementioned, the fourth section will address the desirability of clarity regarding the term "trust." The fifth section will then assess whether legislation is a suitable means to restore consumer trust, and the sixth section explores whether the restoration of consumer trust in the financial sector is a worthy goal. Indeed, the European legislator and other policymakers seem to consider a low level of consumer trust a bad thing, a high level of consumer trust a good thing, and a higher level of consumer trust an even better thing. This article will argue that it is doubtful whether EU legislation is a suitable means for restoring consumer trust in the financial sector and, moreover, that considering the perverse incentives in the current financial sector, among other things, a realistic degree of trust, implying a certain distrust, appears preferable.Keywords Trust . Financial markets . Financial sector . Consumer protection . Financial crisis . European legislation J Consum Policy (2017) 40:25-49 DOI 10.1007 This article is partly based on an article published in the Dutch journal THEMIS (De Jager, C.E. (2015). De financiële sector: weg (van) vertrouwen of op weg naar vertrouwen? Over het nastreven van consumentenvertrouwen in de financiële sector door middel van EU wetgeving na de financiële crisis. Rechtsgeleerd Magazijn Themis, 6,[244][245][246][247][248][249][250][251][252][253][254][255][256][257].

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Contracts between Businessmen: Planning and the Use of Contractual Remedies

Cited by 193 publications

References 0 publications

Smart Contract Relations in e-Commerce: Legal Implications of Exchanges Conducted on the Blockchain

Smart Contract Relations in e-Commerce: Legal Implications of Exchanges Conducted on the Blockchain

Will firms consider a European optional instrument in contract law?

A Question of Trust: the Pursuit of Consumer Trust in the Financial Sector by Means of EU Legislation

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