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Economic Analysis of Law and Public Choice (Part 6)

26 de julio de 1995   | Vistas: 272 |  

About this video

In this lecture, Dr. Michael Krauss explains how damages and liabilities are determined in contract breaches. Economic costs in three famous civil law cases are analyzed: Hadley v. Baxendale (England, 1854) deals with unforeseeable damages; Peevyhouse v. Garland Coal and Mining Co. (Oklahoma, 1962) considers expectation damages; and Jacob and Young v. Kent (New York, 1921) deals with specific contract breaches.  Finally, looking at torts, Dr. Krauss analyzes the differences and similarities between strict liability and negligence rules with an economic analysis of driving speeds—there is a strong incentive to drive more carefully under the negligence rule.

Credits

Economic Analysis of Law and Public Choice (Part 6)
Dr. Michael Krauss

Universidad Francisco Marroquín
Guatemala, July 26, 1995
A New Media - UFM production. Guatemala, July 1995
Conversion and digital editing: Mynor de León; index and synopsis: Christiaan Ketelaar; content reviser: Daphne Ortiz; publication: Mario Pivaral / Carlos Petz


Michael Krauss is a professor of law at George Mason University and has also taught at Seattle University, University of…

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín