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Contract as PromiseA Theory of Contractual Obligation$
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Charles Fried

Print publication date: 2015

Print ISBN-13: 9780190240158

Published to Oxford Scholarship Online: May 2015

DOI: 10.1093/acprof:oso/9780190240158.001.0001

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Contract as Promise

Contract as Promise

(p.7) Chapter 2 Contract as Promise
Contract as Promise

Charles Fried

Oxford University Press

This chapter shows how the classical liberal conceptions of autonomy and responsibility ground trust, which grounds the morality of promise, which is the basis of the institution of contract. It explores the difference between a statement of intent as to a particular future act and a promise to do or refrain from doing such act. It also explores the differences between the utilitarian and Kantian approaches to the duty to keep promises. The chapter discusses what a promise is worth to someone who seeks a remedy if the promise is broken, including the different measures of damages: expectation, reliance, and benefit conferred.

Keywords:   autonomy, trust, promise, duty, remedy

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