The Economic Structure of Corporate Law |
|
| Author:
| Easterbrook, Frank H.
Fischel, Daniel R. |
| Series title: | Emersion: Emergent Village Resources for Communities of Faith Ser. |
| ISBN: | 978-0-674-23539-7 |
| Publication Date: | Feb 1996 |
| Publisher: | Harvard University Press
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| Book Format: | Paperback |
| List Price: | AUD $84.95 |
Book Description:
|
The authors argue that corporate law's rules and practices mimic contractual provisions that parties would reach if they bargained about every contingency at zero cost and flawlessly enforced their agreements. But bargaining and enforcement are costly, and corporate law provides necessary rules and an invaluable enforcement mechanism.
The authors argue that corporate law's rules and practices mimic contractual provisions that parties would reach if they bargained about every contingency at zero cost and flawlessly enforced their agreements. But bargaining and enforcement are costly, and corporate law provides necessary rules and an invaluable enforcement mechanism.