Contract theory and mortgage foreclosure moratoria

Austin J. Jaffe, Jeffery M. Sharp

Research output: Contribution to journalArticle

5 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)77-96
Number of pages20
JournalJournal of Real Estate Finance and Economics
Volume12
Issue number1
DOIs
StatePublished - Jan 1 1996

All Science Journal Classification (ASJC) codes

  • Accounting
  • Finance
  • Economics and Econometrics
  • Urban Studies

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