Impossibility and Related Doctrines in Contract Law: An Economic Analysis
Impossibility and Related Doctrines in Contract Law: An Economic Analysis
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合同法中的不可能性及相关原则:经济分析
DOI:
10.1086/467564
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发表时间:
1977
期刊:
影响因子:
--
通讯作者:
Andrew M. Rosenfield
中科院分区:
文献类型:
--
作者:
R. Posner;Andrew M. Rosenfield
O RDINARILY the failure of one party to a contract to fulfill the performance required of him constitutes a breach of contract for which he is liable in damages to the other party. But sometimes the failure to perform is excused and the contract is said to be discharged rather than breached. This study uses economic theory to investigate three closely related doctrines in the law of contracts that operate to discharge a contract: "impossibility," "impracticability," and "frustration." These are not the only excuses for nonperformance of a contract. Among other excuses, not discussed in this study, is the closely related doctrine of mutual mistake (sometimes called "antecedent impossibility"). Also related, and only incidentally discussed herein, is the doctrine of Hadley v. Baxendale1 limiting the liability of the breaching party to the foreseeable damages of the breach. There is an extensive legal literature on the set of doctrines that, for want of a more inclusive term, we shall sometimes lump together under the name "impossibility." The main conclusions of this literature are summarized in Part IA, next, while Part IB analyzes the subject from the standpoint of economics.2 Part II applies the economic analysis to the leading cases and