Regulating Contract Law
Regulating Contract Law
This chapter addresses cursorily some central issues of the regulatory perspective on contract law, and concentrates on novel lines of inquiry. It commences by explicating more fully than before some methodological difficulties. Next, it rehearses in a more systematic way the reasons for believing that the general law of contract should be regarded as a governance mechanism and a part of the state's regulatory structure. The central claim is that contract law is now being called upon to play a more pivotal role in the governance mechanisms of the post-regulatory state. In that context, the sharp contrast once drawn between the functions of the private market and the functions of public intervention, either through ownership or regulation, no longer appears so convincing.
Keywords: contract law, regulation, private market, governance mechanism
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