PHIL 316 Lecture Notes - Lecture 18: Expectation Damages

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Contract became a rallying cause for people who believe in individual liberties and individual negotiation. As contract law was developing, it was about individual freedom to shape the rules under which we operated with each other. Contracts are created when we engage in mutual promising. What fried is engaging with is the idea that promising is a moral activity that involves obligations and contract law is the way in which the law aids in the adjudication of disputes within contracts. Contract law is the enforcement of the moral obligations involved in promising. How do we create a system to regulate promises when people change their mind and go back upon promises. If you say that you will do something, that puts an obligation on you. If you don"t do it, there"s really nothing the other person can do. It is an institution that we create so that we can engage in long term interactions.

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