Nexus of Contracts

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Nexus of Contracts

Any contract or other thing that is related to anything else, especially something that causes something else.
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25) These claims intersect and overlap, to varying degrees, in the various instantiations of the nexus of contract approach.
2) The nexus of contracts theory is meant to point up the voluntary, market-oriented nature of the firm and to dismiss the notion that the corporation owes anything to the state.
Moreover, they might signal the final gasp of the nexus of contracts theory--at least in its descriptive guise.
This question is addressed by nexus of contract theorists, who argue that while shareholders do not own corporations it is in the best interests of the firm and the economy as a whole that they be given control rights.
In this nexus of contracts perspective, ownership of the firm is an irrelevant concept.
Furthermore, the nexus of contracts theory, and to a lesser extent, the social institutional model, have had a large bearing on the development of corporate governance rules and principles in liberal market economies (see Parkinson 2003).
They placed much of their embrace on the nexus of contracts as being necessary for business enterprises to be "adaptive," since organizations, and their actors, are themselves dynamic because they exist and are buffeted by an ever-changing business environment.
That is, nexus of contracts is more than a metaphor--it's a rule of construction.
Kenneth Ayotte, Northwestern University, and Henry Hansmann, Yale University, "A Nexus of Contracts Theory of Legal Entities"
3) Berkahn uses the term 'contractarian' to describe both the conception of the company as founded on a contract between the shareholders and the modern nexus of contracts analysis of the corporation.
The business of Allianex is based on a nexus of contracts by which it retains a supply of technology support and security services and then distributes such services by means of prepaid cards through retail store aggregators.
Kenneth Ayotte, Northwestern University Law School, and Henry Hansmann, Yale University, "A Nexus of Contracts Theory of Legal Entities"