Suchergebnisse

The Common European Sales Law (CESL) sets the conditions in which the mistaken party is prima facie entitled to rescission and compensation from the other party. Some of the CESL's provisions, however, are inconsistent with efficiency. First, under the CESL, as long as the mistake is fundamental, for the mistaken party to be allowed to rescind the contract, it is sufficient that the other party caused the mistake. From an efficiency perspective, however, causation is not enough to allow rescission. Second, the CESL permits rescission when one party failed to disclose information to the other party that would have revealed to the latter his fundamental mistake and the former party knew or could be expected to have known the mistake. In contrast, under efficiency, not all fundamental mistakes made by the one party that the other party knew or could have known about constitute grounds for rescission. Third, the CESL allows rescission for fraud, which includes non-disclosure of information. The CESL provides a list of considerations that should be taken into account in deciding whether a duty of disclosure arises. In contrast, under efficiency, there are far more concrete guidelines for determining whether a duty of disclosure arises, and in fact, under certain conditions, intentional ("fraudulent") misrepresentations are even permitted. Fourth, the CESL allows a contract to be rescinded when both parties made the same fundamental mistake. Yet efficiency considerations entail that this should not always be the case and that some mutual mistakes should not be grounds for rescission.

We live in a world of one-size-fits-all law. People are different, but the laws that govern them are uniform. "Personalized Law" rules that vary person by person will change that. Individual tailoring becomes increasingly possible as technology and data combine and law and regulation could similiarly be applied based on personalised, subjective, criteria. Better drivers would be free to drive faster, more vulnerable consumers would receive stronger warranties and protections, age restrictions for driving or for the consumption of alcohol would vary according the recklessness risk that each person poses, and licensing requirements would be more demanding for the less skilled. This book is the first to explore how personalized law can be designed to deliver precision and justice, how data and algorithms might run the system, and what pitfalls the regime would have to prudently avoid. Omri Ben-Shahar and Ariel Porat not only present this concept in a clear, easily accessible way, but they offer specific examples of how personalized law may be implemented across a variety of real-life applications.

Introduction -- What is personalized law -- The precision benefit -- Personalized legal areas -- Personalized regulatory techniques -- Personalizing rules by age -- Personalization and distributive justice -- Personalized law & equal protection -- Coordination -- Manipulation -- Governing through data -- Legal robotics.