Restatement of the Law, Consumer Contracts

Authors

Oren Bar-Gill, New York University School of LawFollow
Omri Ben-Shahar
Florencia Marotta-Wurgler, New York University School of LawFollow

Files

Description

This Restatement clarifies how the classic principles of contract law in the Restatement of the Law Second, Contracts, have been applied by courts adjudicating consumer-contract disputes. Consumer contracts have presented a challenge for the law of contracts because the asymmetries in the parties’ information, sophistication, and incentives, coupled with the practice of standard-form contracting, create a risk of abuse by businesses, as it is neither rational nor feasible for most consumers to familiarize themselves with the terms of a given contract. This Restatement restates the various techniques that courts have developed to police for abuse while still endorsing and enforcing standard-form contracts. The principles of fairness and anti-deception that guide regulatory consumer-protection law, to the extent they are consistent with the common law of contracts and the UCC, are also captured by the Restatement.

Publication Date

1-1-2024

Edition

2024

Publisher

American Law Institute

Recommended Citation

Oren Bar-Gill, Omri Ben-Shahar & Florencia Marotta-Wurgler, Restatement of the Law, Consumer Contracts, (2024).
Available at: https://gretchen.law.nyu.edu/fac-books-edited-works/1007