Reliance Theory: Justifying Contract Law
Keywords:
Private law, Contracts, Jurisprudence, Legal theory, Comparative lawAbstract
This article aims to present common law’s reliance theory of contract law as valid justification of contract enforcement under law. It first presents an overview of the key features of reliance theory, then the ideas of its main scholars are presented in more detail. Afterwards, a balance or the reliance theory is made against the background of contemporary contract law theoretical debates, emphasizing mainly the brand-new proposition of “contract as transfer of ownership” presented by Peter Benson. It is argued that reliance theory although a little old-fashioned is more suited to function as a public basis of justification of contract law in the bensonian theoretical framework at least in its normative perspective.
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