Classical Contract Theory  Set of ideas that Underpinned development of contract law in England and US in the 19th century – influenced by will theory of contract  Will theory = contract represents expression of the will of the contracting parties and therefore should be respected and by the courts  Connected to economic, political views of the time  Prevailing ideology was laissez faire - transactions between private parties are free from government with only enough regulations to protect property rights –contract law based on this  Fundamentally concerned with individual autonomy  Lead to Cohen’s “Contractualism” – two principles: o Courts reluctant to recognise non-contractual obligations e.g. advertisers contract with consumer o Overriding concern with intentions of parties  Textbooks about CL also started to be written in 19th C Criticisms of Classical Approach  Rights and obligations arising from a contract do not necessarily