Law and Social Norms in Contractual Relationships

    Research output: Contribution to journalArticleScientificpeer-review

    Abstract

    Law is important – but not as important as many lawyers believe. Evidence
    from different countries demonstrates that businessmen rely more on social norms
    than on legal rights and duties. Sometimes law is even deliberately avoided.
    Social norms and informal practices can also be enforced through a variety of
    non-legal sanctions. Law is still relevant, especially in non-continuous relationships
    and so-called end-game situations. But legal norms are most relevant and
    efficient when they are well-aligned with social norms.
    Original languageEnglish
    JournalHelsinki Law Review
    Volume3
    Issue number1
    Pages (from-to)49-67
    ISSN1797-6251
    Publication statusPublished - 2009
    MoE publication typeA1 Journal article-refereed

    Fields of Science

    • 513 Law
    • Contract Law
    • Social Norms
    • Informal Business Practices
    • Efficiency of Legislation

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