Neo-classical contract
Encyclopedia
A Neo-classical contract is a form of contract, defined by McNeil, describing a contract
dependant upon trilateral governance, in which "third party assistance" is used for resolving disputes or evaluating performance. Such contracts form a distinct group, along with classical and relational contracts, in McNeil's system of classification.
Contract
A contract is an agreement entered into by two parties or more with the intention of creating a legal obligation, which may have elements in writing. Contracts can be made orally. The remedy for breach of contract can be "damages" or compensation of money. In equity, the remedy can be specific...
dependant upon trilateral governance, in which "third party assistance" is used for resolving disputes or evaluating performance. Such contracts form a distinct group, along with classical and relational contracts, in McNeil's system of classification.