If the transaction costs were high, then liability rules should be used.

There is a long understanding in the academic community that when transaction costs are high a liability rule will help substitute for bargaining.

In any accident that involved at least one driver with old-style insurance, the old liability rules would apply.

With these points in mind the next section will return to the contribution that liability rules can make to increased management efficiency.

Other food products containing alcohol follow the normal liability rules, for example:

"And you must remember," he said, "we have a liability rule that says athletes are responsible for what goes in their bodies."

Nor do they provide for liability rules to cover farmers who are victims of such contamination.

We do have liability rules for providers of certification services.

I am not entirely sure what you meant here, because these liability rules are set out in Article 6.

For instance, businesses are able to adjust to a particular regime of liability rules, whether these be liberal or strict.