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The enforceability of the GM–Fisher Body contract: comment on Goldberg

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  • Benjamin Klein

Abstract

Goldberg unconvincingly claims that the General Motors (GM)–Fisher Body contract was in fact legally unenforceable. But even if Goldberg's contract law conclusion were correct, it is economically irrelevant. It is clear from the actions of Fisher and GM and from the testimonial and other contemporaneous evidence that both transactors considered the contract legally binding and behaved accordingly. Therefore, proper economic analysis of the Fisher–GM case should continue to assume contract enforceability, and the economic determinants of organizational structure illustrated by the case remain fully valid. Copyright 2008 , Oxford University Press.

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  • Benjamin Klein, 2008. "The enforceability of the GM–Fisher Body contract: comment on Goldberg," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 17(5), pages 1085-1096, October.
    • Handle: RePEc:oup:indcch:v:17:y:2008:i:5:p:1085-1096
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    File URL: http://hdl.handle.net/10.1093/icc/dtn032
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    Cited by:

    1. Michael E. Sykuta, 2010. "Ronald H. Coase," Chapters, in: Peter G. Klein & Michael E. Sykuta (ed.), The Elgar Companion to Transaction Cost Economics, chapter 4, Edward Elgar Publishing.
    2. Paul Walker, 2010. "The (Non)Theory Of The Knowledge Firm," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(1), pages 1-32, February.

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