Language and Contract

Sussman, Oren (1998) Language and Contract. Journal of Institutional and Theoretical Economics, 154 (2). pp. 384-405.

Abstract

A civic society is distinguished by its language and its law. In this paper I suggest a theory that links these institutions via the notion of a standard contract. The theory is based upon two observations: that contracts are compiled in words, and that more common (standardized) words are easier to comprehend than less common ones. I will argue that these observations have far-reaching implications: that private contracting is restricted by past history, and that the State should play a role in the formation of contractual and legal standards.

Item Type: Article
Keywords: contract law; linguistics; government; legislation; finance
Subject(s): Finance
Date Deposited: 23 Feb 2012 16:34
Last Modified: 02 Mar 2017 14:41
Funders: N/A
URI: http://eureka.sbs.ox.ac.uk/id/eprint/2939

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