Publication Type

Journal Article

Version

publishedVersion

Publication Date

1998

Abstract

Professor John Carter has identified a theme of growing importance in commercial transactions, especially as the number of those that are long in duration and that cross political or cultural lines increases. It is difficult under the best of circumstances ex ante to negotiate for all contingencies in a dynamic economy. Allowing, or requiring, post hoc renegotiations every time there is a change in circumstances could reduce substantially the utility of contract as a risk allocation device that provides some measure of privately ordered certainty unless the use of post hoc renegotiation is carefully circumscribed.

Discipline

Commercial Law | Contracts

Publication

Journal of Contract Law

Volume

13

Issue

3

First Page

205

Last Page

209

ISSN

1030-7230

Publisher

Butterworths

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