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The purpose of this paper is to investigate the determinants of marketing contract choices including written contracts, oral contracts and no contracts, as well as to examine the impact of marketing contracts on net returns from apple production in China.

A two-stage selection correction approach (Bourguignon, Fournier, and Gurgand (BFG)) for the multinomial logit model is employed to estimate the impact of marketing contracts on net returns from apple production. On the basis of the BFG estimation, the authors also use an endogenous switching regression model and a propensity score matching technique to estimate the causal effects of marketing contract choices on net returns from apple production.

The results reveal significant selectivity correction terms in the choices of both written contracts and no contracts and insignificant selectivity correction terms in the choice of oral contract, indicating that accounting for selection bias is a prerequisite for unbiased and consistent estimation. The findings also indicate written contracts increase apple farmers’ net returns, while oral contracts exert the opposite effect.

To the best of the authors’ knowledge, this study is the first to examine the impact of marketing contract choices on net returns from apple production, accounting for selectivity effects.

In this part it is proposed to discuss five aspects of the contract of employment and matters relating to it. The nature of the contract of employment will be considered first and the discussion will then go on to treat statutory intervention as a factor which regulates the underlying structure of the law of employment. In the second instance the characteristics of the contract of employment will be considered. There will then follow a brief excursus on how a contract of employment is formed. Here only offer, acceptance, consideration capacity, intention to enter into legal obligations and form will feature. Discussions on legality of object and restrictive covenants will be left until later. Following on from this third aspect, the fourth will consist of a detailed examination of the statutory written particulars of employment, i.e. (written statement); the discussion will then go on to examine in what circumstances complaints connected with the written statement may be made to an industrial tribunal. The reader will finally be invited to look at a sample written statement by way of practical exercise.

The purpose of this paper is to investigate the influence of GLOBALGAP standards certification on farmer's preference for marketing contract choices including written contracts, oral contracts and spot contracts, as well as to establish the impact of marketing contracts on net returns from snap bean production in Kenya.

In this study, we use a data collected from 446 Snap bean farmers in Kenya. Using a two-step selection Bourguignon Frontier and Gurgand (BFG) model and Propensity Score Matching (PSM), we analysed determinants of Global Gap Certification and other farming characteristics that influence smallholder farmers preference for marketing contracts and net returns from snap beans venture.

Results indicate that attending GLOBALGAP training, GLOBALGAP subsidy support, membership to GLOBALGAP farmer's groups, and selling beans to GLOBALGAP certified GLOBALGAP buyers would significantly influence better returns underwritten marketing contracts. Producing snap beans underwritten marketing contracts would get farmer's net returns of between 1.8 and 8% while producing under oral and spot market contracts would earn farmer net returns of between 0.2 and 0.08 %.

To the best of the authors' knowledge, this study is the first to examine the influence of GLOBALGAP standards certification on marketing contract choices and net returns from snap bean production, while accounting for selectivity biasness.

The chapter surveys recent developments in economics of contract interpretation. First, we point out the relevance of issue of contract interpretation to contracting problems. We then introduce a general economic model of contract interpretation. It explains why parties write gaps and fairly general terms in contracts, how the court should interpret them, and whether courts should always enforce what contracting parties write. Moreover, we explain why there are contradictions in contracts.

Britain's merchant navy dominated the international maritime trade in the 19th century. The strong ship owners' lobby imposed on the shippers the only choice to contract either under bills of lading drafted almost totally on the ship owners' terms or not to contract. The conflict between Britain and its rival the American merchant navy precipitated a movement for the use of model contracts of shipment (carriage) and towards standardisation of the liability of International liner carriers by legislative intervention. The bill of lading through its use in international trade gained the characteristic of being the document which incorporates the contractual terms. So, the orally agreed contract of carriage gave way to the contract of carriage in the form of a bill of lading.

The legal ramifications of the bill of lading continued to develop in the nineteenth century in the American Law. The bill of lading and the implications of its issue began to be reported in many cases as early as the beginning of the 19th century. The leading cases of Delaware and Pollard v Vinton before the supreme court of the United States illustrate the position occupied by the bill of lading from its first steps in the world trade under the interpretation given by the American courts.

The aim of this research is to determine how trust might moderate the effect of asset specificity on the contractual choice.

The sample is drawn from the qualified appellation of origin (DOCa) Rioja wine market. A binomial logit was used as the primary technique for investigation of the hypothesis for the final sample size of 68 observations (34 oral contracts and 34 written contracts).

The evidence presented in this paper points to the fact that asset specificity, the most important characteristic in transaction cost economics, will not be a strong predictor of the level of contract formalisation for transactions that enjoy a high level of trust.

This study has important limitations that imply caution in generalising the findings. First, the agrarian legal framework is likely to alter the effectiveness of formal contracts as governance devices. Another limitation of this analysis is that it is not a dynamic analysis and, hence, it does not consider the possibility of trust emerging over time.

It is suggested that the possession of trust between contractual parties allows them to reduce transaction costs without resorting to a high level of contractual formalisation.

This paper is useful for practitioners and academics in the field of contractual choice. The research provides some initial insight into the moderating influence of trust on the relationship between asset specificity and level of contractual incompleteness in the viticulture sector.

The founding principle of contracts is the freedom of the parties. The parties are free to choose their terms and follow any modality of communication, oral or written. As they can freely make a contract, they can freely modify or unmake it. Written contracts have a clause, No Oral Modification Clause (NOM Clause), precluding oral modifications of the contract. Irrespective of it, business persons make oral agreements modifying the contract, and later, dispute its validity. If the parties are free to contract, why should the oral agreement not be binding? In a NOM Clause then, ineffective? The United Kingdom Supreme Court, in MWB Business Exchange Centres Ltd v Rock Advertising Ltd, explores this fundamental question on contract law.

In this article Professor Perry argues that Plessy v. Ferguson and the de jure segregation it heralded has overdetermined the discourse on Jim Crow. She demonstrates through a historical analysis of activist movements, popular literature, and case law that private law, specifically property and contract, were significant aspects of Jim Crow law and culture. The failure to understand the significance of private law has limited the breadth of juridical analyses of how to respond to racial divisions and injustices. Perry therefore contends that a paradigmatic shift is necessary in scholarly analyses of the Jim Crow era, to include private law, and moreover that this shift will enrich our understandings of both historic and current inequalities.

Compares and contrasts the contractual role of bills of lading in the context of Greek, US and English law. Discusses the legal status and contractual roles of these lading bills in the context of the legislative provisions and associated case law in each of the three countries. Concludes that the role of these bills is unsettled and there is no uniform perception. Recommends measures involving amendments to English legislation, to consolidate the regulation of international trade.