CONTENTS
1. Normative Underpinnings, 1
1.1 Enforcing Promises, 2
The Rise and fall of Freedom of Contract, 2
P. S. Atiyah
Contract as Promise, 7
Charles Fried
Notes on Enforcing Promises, 13
1.2 Selecting Default Rules, 15
Contract Law, Default Rules, and the Philosophy of Promising, 15
Richard Craswell
Filling Gaps in Incomplete Contracts, 21
Ian Ayres and Robert Gertner
Notes on Selecting Default Rules, 27
1.3 Distributional Concerns, 29
Passing on the Costs of Legal Rules, 29
Richard Craswell
Notes on Distributional Concerns, 37
2. Remedies For Breach, 39
2.1 Expectation Damages, 40
Law and Economics, 40
Robert Cooter and Thomas Ulen
The Efficient Breach Fallacy, 42
Daniel Friedmann
Contract Remedies, Renegotiation, and the Theory of Efficient
Breach, 44
Richard Craswell
Notes on Expectation Damages, 52
2.2 Limits on the Expectation Measure, 54
2.2.1 Mitigation and Reliance by the Promisee, 54
The Mitigation Principle, 54
Charles J. Goetz and Robert E. Scott
Unity in Tort, Contract, and Property, 57
Robert Cooter
Notes on Mitigation and Reliance by the Promisee, 63
2.2.2 Consequential DAmages, 65
Beyond Foreseeability: Consequential Damages in the Law of
Contract, 65
Richard A. Epstein
Contract Damages and Cross-Subsidization, 71
Gwyn D. Quillen
Information and the Scope of Liability for Breach of Contract, 75
Lucian Ayre Bebchuk and Steven Shavell
Notes on Consequential Damages, 76
2.2.3 Subjective Losses, 80
Cost of Completion or Diminution in Market Value, 80
Timothy J. Muris
Proposals for Products Liability Reform, 85
Alan Schwartz
Notes on Subjective Losses, 89
2.3 Alternatives to Expectation Damages, 92
2.3.1 Specific Performance, 92
The Case for Specific Performance, 92
Alan Schwartz
Notes on Specific Performance, 96
2.3.2 Liquidated Damages, 99
Liquidated Damages, Penalties, and the Just Compensation Principle,99
Charles J. Goetz and Robert E. Scott
Efficiency Implications of Penalties and Liquidated Damages, 105
Samuel A. Rea, Jr.
Notes on Liquidated Damages, 113
2.3.3 Rescission and Restitution, 114
The Mitigation Principle, 114
Charles J. Goetz and Robert E. Scott
Good Faith in the Enforcement of Contracts, 118
Eric G. Andersen
Notes on Rescission and Restitution, 124
2.3.4 Punitive Damages, 126
Punitive Damages: Divergence in Search of a Rationale, 126
Bruce Chapman and Michael Trebilcock
Notes on Punitive Damages, 135
3. Defining the Performance Obligation, 137
3.1 Implied Excuses, 138
3.1.1 Impracticability, Frustration, and Mistake, 138
Impossibility and Related Doctrines in Contract Law, 138
Richard A. Posner and Andrew M. Rosenfield
Contract as Promise, 143
Charles Fried
Mistake, Frustration, and the Windfall Principle of Contract
Remedies, 147
Andrew Kull
Relational Contracts in the Courts, 152
Alan Schwartz
Notes on Impracticability, Frustration, and Mistake, 156
3.1.2 Nondisclosure and Unilateral Mistake, 159
Mistake, Disclosure, Information, and the Law of Contracts, 159
Anthony T. Kronman
Legal Secrets, 165
Kim Lane Scheppele
Notes on Nondisclosure and Unilateral Mistake, 169
……
4. Contract Formation, 222
5. Unconscionability and Other Defenses, 287