Document Type
Article
Publication Date
5-2009
Keywords
Commercial contracts, New York law, Choice-of-law clauses, Forum-selection clauses, Rule of revocability
Disciplines
Contracts | Jurisdiction | Law and Society
Abstract
Recent empirical work has established that New York supplies the law and forum in nearly half the material commercial contracts of public firms. In this respect New York plays a role for commercial contracts analogous to the role played by Delaware with respect to corporate charters. Is the revealed preference for New York law and forum merely the result of choices made by the contracting parties, or does New York actively compete for this business? This paper describes ways in which New York seeks to attract and retain corporate contracts in competition with other potential providers of law and forum. More generally, the paper demonstrates the existence of a robust market for choices of law and forum in major corporate contracts.
Recommended Citation
Miller, Geoffrey P. and Eisenberg, Theodore, "The Market for Contracts" (2009). Cornell Law Faculty Publications. 418.
https://scholarship.law.cornell.edu/facpub/418
Publication Citation
Published in: Cardozo Law Review, vol. 30, no. 5 (May 2009).