This chapter first considers how contract law best functions as a regulatory tool. The second debate asks which institutions should be responsible for devising contractual regulations. These lead into the third debate, which considers whether commercial contract law should aim to foster and support ‘relational contracting’ or a more ‘minimalistic’ approach. We move from abstract to concrete questions. Each is heavily contested. The chapter provides a tour d’horizon of the most important and divisive debates in commercial contract law.
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- Contract Law as Regulation: Relational and Formalist Approaches
- Macmillan Education UK
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- Chapter 1