Criticism
Some, such as Charles Fried in his "Contract as Promise", have argued that morally, A is obligated to honor a contract made with B because A has made a promise. Fried wrote, "The moralist of duty thus posits a general obligation to keep promises, of which the obligation of contract will only be a special case – that special case in which certain promises have attained legal as well as moral force."
Others argue that the costs of litigation relevant to gaining expectation damages from breach would leave one or both of the original parties worse off than if the contract had simply been performed. Also, Posner's hypothetical assumes that the seller is aware of the value the buyer places on the commodity, or the cost of purchase plus the profits the buyer will make.
Read more about this topic: Efficient Breach
Famous quotes containing the word criticism:
“A bad short story or novel or poem leaves one comparatively calm because it does not exist, unless it gets a fake prestige through being mistaken for good work. It is essentially negative, it is something that has not come through. But over bad criticism one has a sense of real calamity.”
—Rebecca West (1892–1983)
“To be just, that is to say, to justify its existence, criticism should be partial, passionate and political, that is to say, written from an exclusive point of view, but a point of view that opens up the widest horizons.”
—Charles Baudelaire (1821–1867)
“Cubism had been an analysis of the object and an attempt to put it before us in its totality; both as analysis and as synthesis, it was a criticism of appearance. Surrealism transmuted the object, and suddenly a canvas became an apparition: a new figuration, a real transfiguration.”
—Octavio Paz (b. 1914)