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Contracts University of Adelaide

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Classical contract theory • Free to enter into own agreements and the courts should not interfere BUT theory fails to consider complexities of social behaviour and distribution of economic power. Promise theory • The moral basis of the contract is the promise. Consent theory • The parties to a transaction have entitlements and they consent to transfer them. Economic theory • Contract law can be seen as a vehicle for facilitating economic exchange. Critical legal scholarship • Critique of legal formalism’s notion of contract law as a set of value-free, abstract rules that can be applied to any fact situation with predictable results. Feminist theory • Identical treatment approach: gender-neutral treatment. • Difference approach: considers differences between men and women. • Subordinate approach: considers gender of parties and power relationships between them. Contract as a Social Relationship/Relational Contract Theory • Contract is a social relationship between transacting parties and is often governed by relational norms (rather than strictly adhering to principles of contract law). Private Regulation • Contract can be understood as a means of regulating markets and exchanges. International Contract Law • The Vienna Convention: creates a standard set of principles governing international contracts for the sale of goods.

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76 Pages Complete Study Notes 1-2 Years old
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Topics this document covers:
Law Contract law Foreign relations Contract Meeting of the minds Offer and acceptance Collateral contract Unconscionability United Nations Convention on Contracts for the International Sale of Goods Parol evidence rule Privity of contract Exclusion clause
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Topics this document covers:
Law Contract law Foreign relations Contract Meeting of the minds Offer and acceptance Collateral contract Unconscionability United Nations Convention on Contracts for the International Sale of Goods Parol evidence rule Privity of contract Exclusion clause
Sample Text:
......................................................................................................... 7 Classical contract theory ...................................................................................................................... 7 Promise theory .................................................................................................................................... 7 Consent theory .................................................................................................................................... 7 Economic theory .................................................................................................................................. 7 Critical legal scholarship ...................................................................................................................... 7 Feminist theory ............................
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