Breach Babies

The University of Chicago wept:

Blodget: The contract is absolutely sacred and what I'm saying is that that's why the contract is there. It is to specify what happens if you do not pay. You're not ripping up the contract and saying I refuse to honor it. That's what it's there for, it specifies exactly what happens in this case.

McArdle: Wait a minute. Now, if your cell phone provider just like unilaterally breached your contract and they paid whatever $50 penalty was in the contract for that, would you be like, "Oh, that's OK," because they had this penalty in the contract and they can pay me the penalty? Or they can live up to the contract they signed. Would you be like, "Well, but it's corporate." No! You'd be furious. I would be furious, I would be on my Web site telling the entire world that they were a bunch of lying, cheating deadbeats.

Which tome takes up less space on the head of a pin -- McArdle on Contracts or McArdle on Ethics?

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