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Efficient priority ...
Efficient priority rules under default: the case of traditio versus contract principle
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- Andreasson, Jens, 1978 (författare)
- Gothenburg University,Göteborgs universitet,Juridiska institutionen,Department of Law
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Faber, W. (författare)
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- Gangopadhyay, Shubhashis (författare)
- Gothenburg University,Göteborgs universitet,Företagsekonomiska institutionen,Department of Business Administration
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- Martinson, Claes, 1964 (författare)
- Gothenburg University,Göteborgs universitet,Juridiska institutionen,Department of Law
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- Sjögren, Stefan, 1965 (författare)
- Gothenburg University,Göteborgs universitet,Företagsekonomiska institutionen,Department of Business Administration
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(creator_code:org_t)
- 2020-09-24
- 2021
- Engelska.
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Ingår i: European Journal of Law and Economics. - : Springer Science and Business Media LLC. - 0929-1261 .- 1572-9990. ; 51:1, s. 97-128
- Relaterad länk:
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https://link.springe...
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https://gup.ub.gu.se...
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https://doi.org/10.1...
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Abstract
Ämnesord
Stäng
- We investigate the economic consequences of the traditio and the contract principle-differing in how they determine the priority rights for an item sold but not delivered. Our results suggest that the two principles are equivalent in terms of the net utilities enjoyed by involved actors. For example, a lower price paid for a forward transaction under a traditio principle can be compensated by better credit terms, implying there is no competitive advantage for either the seller or buyer under any principle. We demonstrate how market prices, incorrectly used, may misleadingly favour a contract principle, and discuss how fraudulent behaviour better supports a traditio regime. We also contribute to the legal discussion on priority regimes of undelivered items basing our discussion on bankruptcy priority laws instead of distribution of ownership.
Ämnesord
- SAMHÄLLSVETENSKAP -- Juridik -- Juridik (hsv//swe)
- SOCIAL SCIENCES -- Law -- Law (hsv//eng)
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
Nyckelord
- Priority rules
- Bankruptcy
- Traditio principle
- Delivery model
- Transfer
- of ownership
- bankruptcy
- costs
- liquidation
- protection
- ownership
- creditors
- Business & Economics
- Government & Law
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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