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Fall 2022 Seminar

Contract Design: Theory and Practice

Prerequisite: None

Exam Type: No Exam

This seminar will explore practices and strategies of contract design as one of the main tasks performed by transactional lawyers. We will examine the driving forces behind evolution, standardization and innovation in deal terms in a variety of concrete contexts. Topics examined include the role of contract design in value creation; the interaction between formal contract clauses and relational dynamics; the influence of bargaining power; the economics of boilerplate; the relative costs and benefits of vague and precise terms; the effects of institutional differences across jurisdictions; and the impact of technology and artificial intelligence. While this is not an experiential course, the materials include case studies in addition to theory. Students will have the option of writing either a number of reflection papers or a single research paper.