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Free contract
About: Free contract is a(n) research topic. Over the lifetime, 18 publication(s) have been published within this topic receiving 248 citation(s).
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TL;DR: In this paper, the authors construct general rules for when we may violate the principle of free contract in the Paretian framework, and argue that the violation of the PFC is not justified by appeal to deontological ethics or non-welfarist criteria.
Abstract: It is a widely accepted principle of economics that if two or more adults voluntarily agree to a contract or an exchange that has no negative fall-out on others, then the government should not stop such a contract. This is often called the 'principle of free contract' (PFC). There is a body of writing in economics which upholds the PFC. Yet, this ubiquitous principle is ill-defined and full of ambiguities. For instance, since it refers to voluntary choice, its proper use presumes an understanding of what is 'voluntary' and, therefore, also, of what is coercive. What is ironic is that, while philosophers and legal scholars have debated and analyzed these concepts and the validity of the principle of free contract, there is very little discussion of these in economics, even though so much of economics is founded on this principle. This has caused a lot of policy confusion. The aim of this paper is to construct general rules for when we may violate the PFC. The argument is constructed within the Paretian framework. Hence, the violation of the PFC is not justified by appeal to deontological ethics or non-welfarist criteria. This is not an easy task since the principle of free contract is often viewed as a rule that is a derivative of the Pareto principle.
1 citations
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01 Jan 2016
TL;DR: The service contract has been existing since Roman law as mentioned in this paper and it originates from the locatio operis conductio contracts, the contract by which one party a conductor -was obliged to perform a specific job, such as a shoe making, wine transportation, etc., and the other party a locator was obliged to pay the specified fee.
Abstract: The service contract has been existing since Roman law. It originates from the locatio operis conductio contracts. It was the contract by which one party a conductor - was obliged to perform a specific job, such as a shoe making, wine transportation, etc., and the other party, a locator was obliged to pay the specified fee. It is very interesting that in Roman law a clear distinction was made between ordinary activities and those required a special education. In fact, in Roman law, jobs demanded a greater knowledge, usually possessed by highly educated people (teachers, lawyers), were not the subject of locatio operis condutio but mandatum which was considered to be a free contract. This paper will examine the origin of the service contract in Roman law, because it represents a basis and foundation of today's European legal system, and in addition, it is the most developed and comprehensive legal system of the ancient times.
1 citations