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http://ssrn.com/abstract=1569753
 
 

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The Right to Withdraw in Contract Law


Omri Ben-Shahar


University of Chicago Law School

Eric A. Posner


University of Chicago - Law School

February 26, 2010

U of Chicago Law & Economics, Olin Working Paper No. 514

Abstract:     
European law gives consumers the right to withdraw from a range of contracts for goods and services; American law, with narrow exceptions, does not. Yet merchants in the United States frequently provide by contract that consumers have the right to return goods. We analyze the right to withdraw in a model that incorporates a tradeoff between allowing consumers to learn about goods that they purchase and protecting sellers from the depreciation of those goods. The right to withdraw - at least, as a default rule - has a plausible economic basis. We identify a nascent version of it in the well-known, controversial case of ProCD v. Zeidenberg.

Number of Pages in PDF File: 26

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Date posted: March 14, 2010  

Suggested Citation

Ben-Shahar, Omri and Posner, Eric A., The Right to Withdraw in Contract Law (February 26, 2010). U of Chicago Law & Economics, Olin Working Paper No. 514. Available at SSRN: http://ssrn.com/abstract=1569753 or http://dx.doi.org/10.2139/ssrn.1569753

Contact Information

Omri Ben-Shahar
University of Chicago Law School ( email )
1111 E. 60th St.
Chicago, IL 60637
United States
Eric A. Posner (Contact Author)
University of Chicago - Law School ( email )
1111 E. 60th St.
Chicago, IL 60637
United States
773-702-0425 (Phone)
773-702-0730 (Fax)
HOME PAGE: http://www.law.uchicago.edu/faculty/posner-e/
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