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INSTITUTIONAL SUPPORT OF THE FIRM: A THEORY OF BUSINESS REGISTRIES

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ABSTRACT
Registering originative business contracts allows entrepreneurs and creditors
to choose, and courts to enforce, market-friendly ‘‘contract’’ rules that protect
innocent third parties when adjudicating disputes on subsequent contracts.
This reduces information asymmetry for third parties, which enhances
impersonal trade. It does so without seriously weakening property rights,
because it is rightholders who choose or activate the legal rules and can therefore
minimize the cost of any possible weakening. Registries are essential
not only to make the chosen rules public but to ensure rightholders’ commitment
and avoid rule-gaming, because independent registries make rightholders’
choices verifiable by courts. The theory is supported by comparative and historical
analyses.

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Informasi Detail

Judul Seri

Journal of Legal Analysis

No. Panggil

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Penerbit

Oxford : Oxford University Press on behalf of The John M. Olin Center for Law., 2010

Deskripsi Fisik

Fall 2010: Volume 2, Number 2 ~ Journal of Legal Analysis

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

HUKUM

Info Detail Spesifik

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Pernyataan Tanggungjawab

agus

Versi lain/terkait

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