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Foundational Principles of Contract Law$
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Melvin A. Eisenberg

Print publication date: 2018

Print ISBN-13: 9780199731404

Published to Oxford Scholarship Online: October 2018

DOI: 10.1093/oso/9780199731404.001.0001

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Four Underlying Principles of Contract Law and the Foundational Contract-Law Standard

Four Underlying Principles of Contract Law and the Foundational Contract-Law Standard

Chapter:
(p.21) Three Four Underlying Principles of Contract Law and the Foundational Contract-Law Standard
Source:
Foundational Principles of Contract Law
Author(s):

Melvin A. Eisenberg

Publisher:
Oxford University Press
DOI:10.1093/oso/9780199731404.003.0003

Chapter 3 develops four underlying principles of contract law and the foundational contract law standard. Under the most fundamental principle of contract law the aim of contract law should be to effectuate the objectives of parties to promissory transactions, provided that appropriate policy and moral conditions, such as freedom from duress and fraud, are satisfied, and subject to appropriate constraints, such as capacity and legality. The normative theory of contract law, taken together with the four underlying principles described in this chapter, comprise the foundational contract-law standard. Contract-law rules that are supported by the foundational standard are justified. Contract-law rules that are not so supported are unjustified.

Keywords:   underlying principles, contract law, foundational standard, justified contract-law rules, unjustified contract-law rules

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