Omri Ben-Shahar, "No Contract"

A popular type of consumer transaction is called "No Contract." Businesses lure consumers with the "no contract" assurance - a promise that consumer can walk away anytime, without any commitment. This scheme is increasingly common in cable and phone services, health clubs, security services, and other transactions that used to require minimum duration. What is a “No Contract” contract? What does the misnomer “No Contract” intend to signal to consumers? What effects does the “No Contract” arrangement have on other elements of the transaction? What do consumers have to give up in orde