The Expectation Remedy Revisited

Daniel Markovits, Yale Law School
Alan Schwartz

Abstract

We recently published and article in the Virginia Law Review that analyzed the standard contract remedies for breach and asked how those remedies relate to the theory of efficient breach. The Review commissioned two responses to our article, and it generously offered to let us reply to those responses. We are grateful to the two responders for taking our work as seriously as they did and for helping us to clarify our claims. Those claims, however, continue to hold.