We note that some such contract theoretic issues are addressed in the institutionalized corporatist model of Teulings and Hartog (1998), who argue that corporatism achieves allocative efficiency through the establishment of ex ante nominal binding contracts that obviate the need for inefficient ex post negotiation or recontracting (see the macro flexibility discussion below).
As noted earlier, the mechanism through which corporatism achieves allocative efficiency in this framework is via the setting of ex ante binding contracts that obviate the need for inefficient ex post recontracting (once surpluses have been created).
Cruise tickets, after all, are binding contracts that limit cruise lines' liability while defining the scope of legal action that can be taken against them.
In essence, covenant marriage gives couples the option of spurning no-fault divorce; they sign binding contracts that require premarital counseling and permit divorce only in cases of abuse, abandonment, adultery, imprisonment of a spouse or a lengthy separation.
The supermarkets, often working through agreed processors and packagers, offer binding contracts that do not specify prices.
Under the terms of the Coordination reform, hospital and municipalities are obliged to enter into legally binding contracts that set out formal requirements for care transitions and discharge planning [ 17].
The arbitrator, Kenneth Dam, ruled Monday that the undisclosed agreement amounted to a binding contract that broke the salary-cap provisions.
A key point is that while there are different types of postdoc organizations (such as postdoc associations), only a union with collective bargaining rights has the power to negotiate with the employer as equals and to reach a legally binding contract that protects the rights of all postdocs at your university.
China had demanded its own indelible stamp from the foreign players: a signature on a binding contract that forbade them to return to the N.B.A. before the end of the Chinese season, no matter what.
Two other signatories of the Klamath Basin Restoration Agreement, the Karuk Tribe and the Klamath Water Users Association, say the county cannot pull out because the agreement is a binding contract that was just renewed for two more years.
