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Unequal Bargaining Power
Inequality of bargaining power in law, economics and social sciences refers to a situation where one Party (law), party to a Bargaining, bargain, contract or Gentlemen's agreement, 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 Bargaining power, 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 it represents a place at which Market failure, 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 devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral 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 analyses what is viewed as basic elements within economy, economies, 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 analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Max Weber
Maximilian Carl Emil Weber (; ; 21 April 186414 June 1920) was a German Sociology, sociologist, historian, jurist, and political economy, political economist who was one of the central figures in the development of sociology and the social sciences more generally. His ideas continue to influence social theory and social research, research. Born in Erfurt in 1864, Weber studied law and history in Humboldt University of Berlin, Berlin, University of Göttingen, Göttingen, and Heidelberg University, Heidelberg. After earning his doctorate in law in 1889 and habilitation in 1891, he taught in Berlin, University of Freiburg, Freiburg, and Heidelberg. He married his cousin Marianne Weber, Marianne Schnitger two years later. In 1897, he had a breakdown after Max Weber Sr., his father died following an argument. Weber ceased teaching and travelled until the early 1900s. He recovered and wrote ''The Protestant Ethic and the Spirit of Capitalism''. During the First World War, he initia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unfair Contract Terms Act 1977
The Unfair Contract Terms Act 1977 (c. 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 recomme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyds Bank Ltd V Bundy
''Lloyds Bank Ltd v Bundy'' is a decision of the English Court of Appeal in English contract law, dealing with undue influence. One of the three judges hearing the case, Lord Denning MR, advanced the argument that under English law, all impairments of autonomy could be collected under a single principle of "inequality of bargaining power", but the other two judges were not drawn into commenting on Denning's argument. Facts Herbert James Bundy was a farmer. His son, Michael, owned a business that was in financial trouble. Bundy had already guaranteed his son's business with a £7,500 charge over his only asset, his farmhouse, to Lloyds Bank. Michael's company got into further financial difficulty. 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 the house when the money was not paid. In the subsequent court proceedings, Bundy had a heart attack in the witness box ... [...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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Williams V
Williams may refer to: People * Williams (surname), a surname English in origin, but popular in Wales, 3rd most common in the United Kingdom * Williams Nwaneri, American football player Places Astronomy * Williams (lunar crater) * Williams (Martian crater) Australia * Williams, Western Australia * Shire of Williams * Williams River (other) Canada * Williams Cone, a volcanic cone in British Columbia United States * Williams Gap, a mountain pass in Nebraska * Williams River (other) Communities *Williams, Arizona *Williams, California, in Colusa County * Williams, Adams County, Indiana * Williams, Lawrence County, Indiana *Williams, Iowa *Williams, Minnesota * Williams, Nebraska * Williams, Oregon *Williams, South Carolina *Williams County, North Dakota *Williams County, Ohio *Williams Township, Michigan *Williams Township, Minnesota *Williams Township, Dauphin County, Pennsylvania *Williams Township, Northampton County, Pennsylvania *Williams Bay, Wisco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lowe V Lombank
Lowe may refer to: People * Lowe (surname), 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 Peak (Utah), 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 House (other) * Lowe's, an American retail chain * Löw * Lowes (other) Lowes or similar words may refer to: Businesses * Lowe's, a big box home improvement chain * Lowe's Canada, f ... [...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 ... [...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 he 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, California, aged 96. Scholarship Kessler's most celebrated article''Contracts of Adhesion—Some Thoughts About Freedom of Contract'' elaborates the concept of "contrat d'adhésion" which originated in French civil law at th ... [...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 of the Latin alphabet, used in the modern English alphabet, including the alphabets of other western European languages and others worldwide. Its name in English is ''aitch'' (pronounced , plural ''aitches''), or regionally ''haitch'' (pronounced , plural ''haitches'')''.''"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. Name English For most English speakers, the name for the letter is pronounced as and spelled "aitch" or occasionally "eitch". The pronunciation and the associated spelling "haitch" are often considered to be h-adding and are considered non-standard in England. It is, however, a feature of Hiberno-English, and occurs sporadically in various other dialects. The perceived name of the letter affects the choice of indefinite article before initialisms beginning with H: for example "an H-bomb" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Trebilcock
Michael John 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
