Rethinking Contract Law and Contract Design

Rethinking Contract Law and Contract Design

Rethinking Law series

Victor P. Goldberg

Rethinking Contract Law and Contract Design presents a rich array of ideas that reassess the law and economics of contractual relations. Victor P. Goldberg uses a transactional framework to critically analyse and re-evaluate contract doctrine and specific legal cases. This important work examines particular contractual precepts whilst conducting a detailed exercise in legal archaeology, challenging readers to reconsider significant legal decisions by forensic exploration of records, briefs, and other materials, including the staple cases of textbooks and casebooks.

Chapter 10: The Achilleas: forsaking foreseeability

Victor P. Goldberg

Subjects: economics and finance, law and economics, law - academic, commercial law, law and economics, law of obligations


In The Achilleas, the House of Lords gave the most recent interpretation of Hadley v. Baxendale and the limits on the recovery of consequential damages. Lord Hoffmann rejected the emphasis on foreseeability and “the requisite degree of probability of loss,” focusing instead on the tacit assumption of the parties. This chapter examines how the tacit assumption framework applies to the particular facts of The Achilleas.

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