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Apologies in the marketplace.

Vinayagamoorthy, K.
June 4, 2015

Source: (2013) Pace Law Review. 33(3):1081-1145.

This Article argues that apologies have the potential to
play important roles in the marketplace. It argues that a public
apology should not be reserved only for transgressions that we
customarily identify as “moral wrongs.” Instead, public
apologies may be equally appropriate as supplemental
remedies when (a) parties place value on their relationship
independent from the financial benefits they gain from
exchanging with each other, (b) a contractual breach results in
non-pecuniary harm to this relationship, and (c) monetary
compensation alone is insufficient to address such nonpecuniary
harm. Although such issues may not arise in all
commercial transactions, these problems do present unique
challenges for parties who rely on their relationship with each
other as a foundation for exchanging. (excerpt)

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