A Rationale for the Limitation Period in Sales Law

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A Rationale for the Limitation Period in Sales Law

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dc.contributor.author Lando, Henrik en_US
dc.date.accessioned 2009-02-04T10:26:30Z
dc.date.available 2009-02-04T10:26:30Z
dc.date.issued 2007-12-11T00:00:00Z en_US
dc.identifier.uri http://hdl.handle.net/10398/7237
dc.description.abstract This article suggests a rationale for statutes of limitations in sales law, i.e. for the practice of cutting off buyers’ remedies after the expiration of a limitation period. The rationale is based on the notion of wear and tear, which carries two implications: First, a good that breaks down after several periods of use is likely to be of nearly optimal quality, and in this case little is gained by allowing a claim. Second, the number of dysfunctions is likely to increase over time, which implies that the pool of potential claims, and in particular the pool of unjustified claims, is likely to increase over time. It will be shown theoretically that these implications can provide a rationale for cutting off claims. The rationale will be supported with empirical evidence stemming from a recent extension of the limitation period from one to two years in Denmark. en_US
dc.format.extent 22 s. en_US
dc.language eng en_US
dc.relation.ispartofseries Working paper;2007-6 en_US
dc.title A Rationale for the Limitation Period in Sales Law en_US
dc.type wp en_US
dc.accessionstatus modt07dec11 nijemo en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Institut for Industriøkonomi og Virksomhedsstrategi en_US
dc.contributor.departmentshort IVS en_US
dc.contributor.departmentuk Department of Industrial Economics & Strategy en_US
dc.contributor.departmentukshort IES en_US
dc.idnumber x656555822 en_US
dc.publisher.city København en_US
dc.publisher.year 2007 en_US


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