Contracts

Macneil, I. R. (1978). Contracts: Adjustment of Long-Term Economic Relations under Classical, Neoclassical, and Relational Contract Law. Northwestern University Law Review, 72(6), 854-905.

Type

Journal article

Intellectual base

Primary research

Year

1978

Volume

72

Issue

6

Pages

854-905

Link

https://scholarlycommons.law.northwestern.edu/nulr/vol72/iss6/1/

Cited from

music_musicology

Cited by

1 citation across 1 artifact.

Each citation links to the sentence it supports in the citing article.

Primes

• Suspension
  • Emotional carryover and grief: an attachment, expectation, or habit formed in one relational context persists into a new one (a divorce, a redundancy, an empty nest), experienced as grief, and resolved as the held element is renegotiated. Legacy contracts: a fixed-price contract signed in one market continues into a new market in which prices have moved, with friction between held terms and changed environment resolving at renegotiation, breach, or expiry.

    This sourceLong-term contracts cannot fix all terms in advance against changing circumstances; relational norms supply adjustment and renegotiation as conditions shift.

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