Commercial contract law is in every sense optional given the choice
between legal systems and law and arbitration. Its 'doctrines' are
in fact virtually all default rules. Contract Law Minimalism
advances the thesis that commercial parties prefer a minimalist law
that sets out to enforce what they have decided - but does nothing
else. The limited capacity of the legal process is the key to this
'minimalist' stance. This book considers evidence that such
minimalism is indeed what commercial parties choose to govern their
transactions. It critically engages with alternative schools of
thought, that call for active regulation of contracts to promote
either economic efficiency or the trust and co-operation necessary
for 'relational contracting'. The book also necessarily argues
against the view that private law should be understood
non-instrumentally (whether through promissory morality, corrective
justice, taxonomic rationality, or otherwise). It sketches a
restatement of English contract law in line with the thesis.
General
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