I think this question hinges solely on whether suicide is legal. As Boondock points out, if you have a (civil) grievance against someone you can contractually bargain to not actually pursue that grievance in court and instead play tiddlywinks. The thing preventing dueling as a proper solution is just that we don't much like the idea of being able to relinquish the right to life of ourselves or others.
The old argument (I think it was Mill's) that you cannot be able to surrender something that would permanently eliminate your freedom (life or slavery) I think kind of militates against the notion of dueling.
Goranhammer wrote:I would love to see a legal version of the Coase Theorem.
I don't think the Coase Theorem is what you think it is. It's not a "bargaining is good" theorem, it's a "it doesn't matter a bit who you give right X to" theorem. It's
only about the law.