nexus

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nexus

a tie or connection.
References in periodicals archive ?
The corporation is not simply a nexus of contracts. It is an organizational form with a set of state-given benefits (primarily limited liability) along with a set of taxes and mandatory governance rules.
The uncorporation seems to be the undoing of the nexus of contracts theory, at least as a positive description.
In other words, we can say that the corporation is like a nexus of contracts, in that it is freely chosen by the parties as the best organizational delivery system for their relationships.
The normative side of the nexus of contracts theory relies on an extended version of the following argument: corporations are contracts; contracts reflect Pareto improvements; Pareto improvements, by their very nature, promote the good; therefore, corporations promote the good.
The nexus of contracts theory is thus not really a theory of the firm at all, but rather a theory of agency costs within a certain type of firm.
Bratton, Jr., The "Nexus of Contracts" Corporation: A Critical Appraisal, 74 CORNELL L.