Is contract law liberal? On autonomy and exchange

Sage, Nicholas W. ORCID: 0000-0001-9739-7371 (2025) Is contract law liberal? On autonomy and exchange. Cambridge Law Journal. ISSN 0008-1973

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Abstract

Autonomy theories of contract are influential and have many attractions, not least their compatibility with liberal ideals. However, such theories cannot account for basic features of the common law of contract, in particular: the role of established transaction types, the doctrine of consideration, and the phenomenon of contractual obligation. An exchange theory of contract can account for those features of the law. This theory’s liberal credentials can be established by connecting it to an alternative intellectual strand in the liberal tradition, sometimes known as commercial liberalism.

Item Type:	Article
Additional Information:	© 2025 The Author
Divisions:	Law School
Subjects:	K Law > K Law (General)
Date Deposited:	14 Jul 2025 15:09
Last Modified:	01 Jan 2026 04:20
URI:	http://eprints.lse.ac.uk/id/eprint/128816

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