We often mislead ourselves into believing that, by arriving at a certain contract decision, we have carefully considered all available options, weighed up the pros and cons of each attribute dispassionately, and selected the most favourable outcome, i.e. the one which maximises our welfare in the transaction. Regretfully, however, we are seldom cognisant of the…

The title of this post may, at a first sight, seem rather odd, but this author submits that choice of a governing contract law can actually be explained using ice cream as an analogy.   Assuming an individual generally likes ice cream, a question that arises is whether any thought has ever gone into why…