During the COVID-19 pandemic, business contracts and the exchanges they embody have been foregone, revised, delayed, and terminated; performance under business contracts has been modified voluntarily and involuntarily. Some of these actions and outcomes have been the subject of legal claims brought by one contracting party or another in courts or administrative tribunals. A co-authored October 2020 Harvard Business Review article promotes the use of “formal relational contracts” as a means of obviating or limiting opportunistic behaviors by contracting parties—including parties contending with cataclysmic events or factors in or outside the business (like the global pandemic and its effects) that place significant financial stress on the business and its relations with others. This program offers information on relational contracts (and relational contracting) and assesses the utility and desirability of using relational contracting in times of uncertainty.
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Discussed a topic I hadn't encountered explicitly before. Very interesting.
This program will be filed for Tennessee CLE credit. Please email a request to firstname.lastname@example.org for Georgia and Mississippi CLE credit.