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Publication

A Bargaining Theory Approach to Default and Disclosure Provisions in Contract Law

Coleman, Jules
Abstract
Legal rules facilitate as well as constrain human freedom. H.L.A. Hart captures the difference between these two functions of law by distinguishing between primary and secondary rules. Primary rules impose obligations and thereby constrain behavior. Secondary rules empower individuals to create relations that confer rights and impose duties. Thus, the criminal law constrains individual liberty; the law of contracts enhances it.