The genius of private law (beyond private property rights and free contracting)ITAM-ILACDE Working Papers (2008)
AbstractBoth the civil-law and the common-law traditions are equal when it comes to defining property rights and recognizing the principle of freedom of contract. Yet recent empirical evidence suggests that both legal traditions perform differently. Where is the difference? This article argues that while freedom of contract is necessary for a liberal free-market economy, another ingredient is also vital for private law to function properly beyond the rational bounds of incomplete contracting: When must private law provide incentives for contracting parties to act in the interest of others or even against their own self-interest?
Publication DateJanuary, 2008
Citation InformationJuan Javier del Granado. "The genius of private law (beyond private property rights and free contracting)" ITAM-ILACDE Working Papers (2008)
Available at: http://works.bepress.com/juan_javier_del_granado/14/