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Contract Theory: The Evolution of Contractual Intent
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business account Hardcover: 221 pages Publisher: Michigan State University Press (June 30, 1998)
Language: English ISBN-10: 0870134868 ISBN-13: 978-0870134869 Product Dimensions: 6 x 0.9 x 9
inches Shipping Weight: 1.1 pounds (View shipping rates and policies)
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Book Description
Contract Theory examines the logical and conceptual structures that arise in the process of
making, honoring, and enforcing contracts. The touchstone of Anglo-American contract law is the
determination of contractual intent. Two theories have competed for center stage: the subjective
theory of the "meeting of the minds" and the objective theory in which the parties' manifestations
and the transaction's contextual factors became the means for contract interpretation and
enforcement. The implementation of the objective theory of contract is the "reasonable person
standard." Larry DiMatteo focuses on the development, construction, and application of the
reasonable person standard. He undertakes a study of the origins of the reasonable person in the
disciplines of philosophy, theology, and psychology and concludes with an examination of the
interplay between this objective standard and the subjectivity of judgment. The importance of the
synthesis of the objective and subjective elements of contracts is crucial for a complete
understanding of contract law.

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