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Books > Law > Laws of other jurisdictions & general law > Private, property, family law > Contract law
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Capacitas - Contract Law and the Institutional Preconditions of a Market Economy (Hardcover, New)
Loot Price: R3,031
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Capacitas - Contract Law and the Institutional Preconditions of a Market Economy (Hardcover, New)
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One of the principal tasks for legal research at the beginning of
the 21st century is to reconstruct the understanding of the
relationship between the legal system and the market order. After
almost three decades of deregulation, driven by a belief in the
self-equilibrating properties of the market, the financial crisis
of 2008 has reminded everyone of the fundamental truth that markets
have legal and institutional foundations, without which they cannot
effectively function. The chapters in the present volume are the
result of the work by a group of legal scholars which began in
mid-2000, at a time when the shortcomings of deregulatory policies
were becoming clear in a number of contexts. The chapters address
the question of how the language of contract law describes or
conceptualizes the market order and the relationship of the law to
it. The perspectives taken are, in turn, historical, comparative,
and context-specific. The focus of the book is on a foundational
idea, the concept of capacitas, which signifies a status conferred
upon citizens for the purpose of enabling them to participate in
the economic life of the polity. In modern legal systems,
'capacity' is the principal juridical mechanism by which
individuals and entities are empowered to enter into legally
binding agreements and, more generally, to arrange their affairs
using the instruments of private law. Legal capacity is thereby the
gateway to involvement in the operations of a market economy. With
essays on the relationship of the law and markets, this book will
be of interest to scholars of contract law, economics, and
regulation.
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