unequal bargaining power of parties to a franchise contract and their unequal access to information that may be effective in determining the consideration of a contract; has caused different legal systems impose obligations to franchisor to poise the contractual balancing. commitment to expose accurate and comprehensive pre-contractual information about all aspects related to franchise is the m...

fork in the road clauses and waiver clauses in investment treaties are supposed to minimize the number of parallel proceedings in foreign investment disputes. while, fork in the road clauses preclude investors from further litigation or arbitration once the first dispute settlement mechanism is triggered, in waiver clauses, domestic litigation can be followed by treaty arbitration regarding the...

We analyze a model of wage payment practices in which strategic complementarities arise because each employer’s costs of delaying wages decrease with the arrears in its labor market. The model is estimated on panel data for workers and firms in Russia, facilitating identification through fixed effects for employees, employers, and local labor markets, and instrumental variables based on policy ...

This Essay argues that the “psychological contract”—the parties’ respective, subjective, idiosyncratic understandings of their contractual obligations to one another—is important and predictable. The common law of contract tells us how to discern the legal promise. By contrast, the “psychological contract” describes how the parties themselves understand their agreements, an inquiry that refers ...

Electronic contracts are a means of representing agreed responsibilities and expected behaviour of autonomous agents acting on behalf of businesses. They can be used to regulate behaviour by providing negative consequences, penalties, where the responsibilities and expectations are not met, the contract is violated. However, long-term business relationships require some flexibility in the face ...

Electronic contracts are a means of representing agreed responsibilities and expected behaviour of autonomous agents acting on behalf of businesses. They can be used to regulate behaviour by providing negative consequences, penalties, where the responsibilities and expectations are not met, i.e. the contract is violated. However, long-term business relationships require some flexibility in the ...

A psychological contract is an agreement between the employer and an employee that covers the parties’ informal and frequently non-verbalized obligations and expectations towards each other. The contract is a cognitive pattern-governing employee’s behaviour in the organization. A gap between employee’s expectations and the organizational reality may lead to difficult-tosolve conflicts or cause ...