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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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.
Larry A. DiMatteo is the Huber Hurst Professor of Contract Law and Legal Studies at the Warrington College of Business Administration and Affiliated Professor at the Levin College of Law at the University of Florida. He is the author or editor of more than seventy scholarly publications including International Sales Law: A Critical Analysis of the CISG (2005) and Commercial Contract Law: Transatlantic Perspectives (2013). Professor DiMatteo obtained his JD from Cornell Law School; LLM from Harvard Law School; and PhD in Business and Commercial Law from Monash University, Victoria.
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