Neo-classical contract explained

A Neo-classical contract is a form of contract, defined by McNeil, describing a contract dependent upon trilateral governance, in which "third party assistance" is used for resolving disputes or evaluating performance.^[1] Such contracts form a distinct group, along with classical and relational contracts, in McNeil's system of classification.

Notes and References

1. I.R. Macneil, “Contracts: adjustment of long-term economic relations under classical, neoclassical, and relational contract law” (1977) Northwestern University Law Review vol:72 pg:854 .