ContractsProf Blog

Editor: Jeremy Telman
Oklahoma City University
School of Law

Wednesday, January 6, 2021

AALS Section on Contracts Session: Best Efforts Clauses, Wednesday, 11:00 AM EST

Section on Contracts:
Contracting for Effort: The Law and Economics of Best and Reasonable Effort Clauses
AALS 2021Best effort clauses in contracts are prevalent and in some sense paradoxical. For instance, in the extensive literature on the economics of contracts, it is almost universally accepted that “effort” is non-contractable because it is unobservable and unverifiable by courts or other arbitral bodies, yet everyday lawyers are busy drafting hundreds or thousands of best effort clauses. What exactly accounts for this apparent disconnect between economic theory and legal practice? We will to explore this question among others by examining scholarship and practice on topic of best effort clauses.
  • Moderator
    Richard Brooks
    Professor of Law
    New York University School of Law

  • Speaker
    Nathan Atkinson
    Postdoctoral Fellow in Law and Economics
    ETH Zurich Center for Law & Economics

  • Speaker
    Patrick Bolton
    Columbia Law School

  • Speaker
    Julian Nyarko
    Assistant Professor of Law
    Stanford Law School

  • Speaker
    Sarath Sanga
    Associate Professor of Law
    Northwestern University Pritzker School of Law
    Sarath Sanga's principal areas of research are corporate law and contract theory. An interdisciplinary scholar, his work has appeared in leading law, economics, and scientific journals, including the Journal of Political Economy, the Journal of Law & Economics, California Law Review, and Science. Sanga holds a BA in economics from the University of Michigan, Ann Arbor, a PhD in economics from the University of California, Berkeley, and a JD from Yale.

  • Speaker
    Alexander Stremitzer
    University of California, Los Angeles School of Law

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