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National Repository of Grey Literature 1 records found  Search took 0.00 seconds. 
Economic analysis of voidability in the new civil code
 Michálek, Jakub ; Dušek, Libor (advisor) ; Pekárek, Štěpán (referee)
This paper makes an economic analysis of juridical acts and contracts voidability under the new Czech civil code (Act no. 89/2012 Coll.) with focus on differences between absolute and relative voidability. The essence of the analysis is to estimate and evaluate the impact of the civil code on subjects' behaviour before and after entering into a contract, in particular their motivation to void the contract, and the costs imposed upon the parties under the contractual relationship. Outcomes of the analysis show that voidability lowers utility and creates incentives for opportunistic behaviour. Furthermore, we show that in some cases, voidability can be justified as economically effective means of preserving legitimate interests of one of the parties, in those cases, relative voidability should be preferred, however. The conclusions of this paper can contribute a new perspective on law during interpretation and application.
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