This collection explores the nature and justification of mandatory rules (which are non-excludable) and default rules (which can be modified or excluded by the parties) in contract and commercial law.

The collection distinguishes between different kinds of mandatory and default rules that govern commercial transactions. It also explores the choice of rule in various situations. Which rules are mandatory, and are there clearly understood and convincing reasons for parties to be denied choice? In the case of default rules, on what basis is the default position selected? The collection also explores the fundamentally important relationship between default rules and interpretation, and, relatedly, between default rules and contractual risk allocation. The collection will be of interest to academics and practitioners working across the field of commercial law.