Contract Theory and Mortgage Foreclosure Moratoria

Austin J Jaffe and Jeffery M Sharp

The Journal of Real Estate Finance and Economics, 1996, vol. 12, issue 1, 77-96

Abstract: Contracts are an essential institution in capitalist economies. Contract law provides a long and interesting constitutional history. At the same time, mortgage foreclosure moratoria is shown to be an occasional and repeated phenomenon. This paper explores the legal and economic aspects of this issue via a survey of the schools of thought on contracts. The paper also speculates about the nature of mortgage contracts and the economics of moratoria statutes. Copyright 1996 by Kluwer Academic Publishers

Date: 1996
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