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Inequality Of Bargaining Power
Inequality of bargaining power in law, economics and social sciences refers to a situation where one party to a bargain, contract or agreement, has more and better alternatives than the other party. This results in one party having greater power than the other to choose not to take the deal and makes it more likely that this party will gain more favourable terms and grant them more negotiating power (as they are in a better position to reject the deal). Inequality of bargaining power is generally thought to undermine the freedom of contract, resulting in a disproportionate level of freedom between parties, and that it represents a place at which markets fail. Where bargaining power is persistently unequal, the concept of inequality of bargaining power serves as a justification for the implication of mandatory terms into contracts by law, or the non-enforcement of a contract by the courts. Historical development The concept of inequality of bargaining power was long recognised, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Max Weber
Maximilian Karl Emil Weber (; ; 21 April 186414 June 1920) was a German sociologist, historian, jurist and political economist, who is regarded as among the most important theorists of the development of modern Western society. His ideas profoundly influence social theory and research. While Weber did not see himself as a sociologist, he is recognized as one of the fathers of sociology along with Karl Marx, and Émile Durkheim. Unlike Durkheim, Weber did not believe in monocausal explanations, proposing instead that for any outcome there can be multiple causes. Also unlike Durkheim, Weber was a key proponent of methodological anti-positivism, arguing for the study of social action through interpretive rather than purely empiricist methods, based on a subjective understanding of the meanings that individuals attach to their own actions. Weber's main intellectual concern was in understanding the processes of rationalisation, secularisation, and the ensuing sense of "disenchan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unfair Contract Terms Act 1977
The Unfair Contract Terms Act 1977c 50 is an Act of Parliament of the United Kingdom which regulates contracts by restricting the operation and legality of some contract terms. It extends to nearly all forms of contract and one of its most important functions is limiting the applicability of disclaimers of liability. The terms extend to both actual contract terms and notices that are seen to constitute a contractual obligation. The Act renders terms excluding or limiting liability ineffective or subject to reasonableness, depending on the nature of the obligation purported to be excluded and whether the party purporting to exclude or limit business liability, acting against a ''consumer''. It is normally used in conjunction with the Unfair Terms in Consumer Contracts Regulations 1999 (Statutory Instrument 1999 No. 2083), as well as the Sale of Goods Act 1979 and the Supply of Goods and Services Act 1982. The Law Commission and the Scottish Law Commission have recommended that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyds Bank Ltd V Bundy
is a landmark case in English contract law, on undue influence. It is remarkable for the judgment of Lord Denning MR who advanced that English law should adopt the approach developing in some American jurisdictionsFor America, see the case, ''Williams v. Walker-Thomas Furniture Co.'', 350 F.2d 445 (D.C. Cir. 1965). that all impairments of autonomy could be collected under a single principle of "inequality of bargaining power." Facts Herbert James Bundy (Mr. Bundy) was a farmer. His son, Michael, owned a business that was in financial trouble. Mr. Bundy had already guaranteed the business with a £7,500 charge over his only asset, his farmhouse, to Lloyds Bank.McKendrick (2007) p.367. The asset was the farmhouse at Yew Tree Farm, Broadchalke, Wiltshire. Michael's company got into further financial difficulty. Mr. Bundy then increased his exposure to £11,000 after the assistant manager of Lloyds failed to notify him of the company's true financial condition. Lloyds foreclosed on t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uniform Commercial Code
The Uniform Commercial Code (UCC), first published in 1952, is one of a number of Uniform Acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States. While largely successful at achieving this ambitious goal, some U.S. jurisdictions (e.g., Louisiana and Puerto Rico) have not adopted all of the articles contained in the UCC, while other U.S. jurisdictions (e.g., American Samoa) have not adopted any articles in the UCC. Also, adoption of the UCC often varies from one U.S. jurisdiction to another. Sometimes this variation is due to alternative language found in the official UCC itself. At other times, adoption of revisions to the official UCC contributes to further variation. Additionally, some jurisdictions deviate from the official UCC by tailoring the language to meet their unique needs and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lowe V Lombank
Lowe may refer to: People * Lowe (surname), a surname (including a list of people with the name) * Liu, a Chinese surname sometimes romanized as Lowe Places * Division of Lowe, an Australian federal government electoral division * Lowe, Delaware, United States * Lowe, Shropshire, a location in England * Lowe Township, Moultrie County, Illinois, United States Other uses * Lowe Alpine, American outdoor equipment manufacturer and supplier * Löwe Automobil, German car-part manufacturer * Lowe (band), Swedish synthpop band * Lowe and Partners, global advertising agency network, now part of MullenLowe Group * Löwe, the traditional name of the assistant to the Scharfrichter (executioner) * Panzer VII Löwe, a German tank See also * Lowe Gardens * Lowe's, an American retail chain * Löw * Lowes (other) * Löwe (other) Löwe or Loewe (German for "lion") may refer to: People * Loewe (surname) Business *Loewe (electronics), a German television sets and ot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Columbia Law Review
The ''Columbia Law Review'' is a law review edited and published by students at Columbia Law School. The journal publishes scholarly articles, essays, and student notes. It was established in 1901 by Joseph E. Corrigan and John M. Woolsey, who served as the review's first editor-in-chief and secretary. The ''Columbia Law Review'' is one of four law reviews that publishes the ''Bluebook''. History The ''Columbia Law Review'' represents the school's third attempt at a student-run law periodical. In 1885, the ''Columbia Jurist'' was founded by a group of six students but ceased publication in 1887. Despite its short run, the ''Jurist'' is credited with partially inspiring the creation of the Harvard Law Review, which began publication a short time later. The second journal, the ''Columbia Law Times'' was founded in 1887 and closed down in 1893 due to lack of revenue. Publication of the current ''Columbia Law Review'' began in 1901, making it the fifth oldest surviving law revie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friedrich Kessler
Friedrich "Fritz" Kessler (August 25, 1901 – January 21, 1998) was an American law professor who taught at Yale Law School (1935–1938, 1947–1970), University of Chicago Law School, and University of California, Berkeley School of Law. He was a contract law scholar, but also wrote about trade regulation law. He was regarded as a member of the American Legal Realism School. Biography Born in Hechingen, Province of Hohenzollern, in 1901, he received his law degree from the University of Berlin in 1928. He was a research member of the Kaiser Wilhelm Institute of Foreign and International Law in Berlin until 1934, when he fled Germany to avoid Nazi persecution, as his wife, Eva Jonas, was Jewish. Friedrich Kessler died on January 21, 1998, in Berkeley, CA. Generations of students remember with affection his unforgettable classroom style----heavily Socratic yet benign. Scholarship Kessler's most celebrated article''Contracts of Adhesion—Some Thoughts About Freedom of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schroeder Music Publishing Co Ltd V Macaulay
''Macaulay v Schroeder Music Publishing Co Ltd'' 9741 WLR 1308 is an English contract law decision of the House of Lords relating to restraint of trade. Facts Macaulay, a novice songwriter aged 21, entered a standard form agreement with Schroeder Music, whereby they would have the exclusive benefit of his compositions. The global copyright was assigned to another party in return for a fixed percentage of any royalties. This was to last five years and could be automatically extended for five years if the royalties went above £5000. Schroeder Music could terminate or assign the contract, but Macaulay could not, and Schroeder was under no obligation to publish or promote anything. Macaulay claimed the agreement was contrary to public policy. Judgment The House of Lords held the standard form agreement could not be justified as being purely moulded through negotiation, competition and public opinion. Macaulay had no bargaining power. The defendants purported to be able to arbitrari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
H Beale
H, or h, is the eighth letter in the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''aitch'' (pronounced , plural ''aitches''), or regionally ''haitch'' ."H" ''Oxford English Dictionary,'' 2nd edition (1989); ''Merriam-Webster's Third New International Dictionary of the English Language, Unabridged'' (1993); "aitch" or "haitch", op. cit. History The original Semitic letter Heth most likely represented the voiceless pharyngeal fricative (). The form of the letter probably stood for a fence or posts. The Greek Eta 'Η' in archaic Greek alphabets, before coming to represent a long vowel, , still represented a similar sound, the voiceless glottal fricative . In this context, the letter eta is also known as Heta to underline this fact. Thus, in the Old Italic alphabets, the letter Heta of the Euboean alphabet was adopted with its original sound value . While Etruscan and La ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Trebilcock
Michael J. Trebilcock (born 1941) is a New Zealand-born, Canadian-based law academic. He is currently distinguished university professor and professor of law at the University of Toronto, specializing in law and economics. Early life Trebilcock attended Rangiora High School. Teacher Trebilcock taught at the University of Adelaide, South Australia, until 1969, when he came to Canada as a visiting associate professor of law at McGill Law School. He was appointed associate professor of law at McGill in 1970 and joined the faculty of law at the University of Toronto as a professor of law in 1972. He has served as national vice-president of the Consumers' Association of Canada, chair of the Consumer Research Council and research director of the Professional Organizations Committee for the Government of Ontario. He was a fellow in law and economics at the University of Chicago Law School in 1976, a visiting professor of law at Yale Law School in 1985, and a global law professor at New Yo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
