Contract law, theories of

Theories of contract law seek to articulate general principles and values underpinning the complex rules of contract law. Some theorists view contract law as simply concerned to facilitate individual choices and enforce the will of the parties. A rival view holds that it is impossible to derive the content of contract law from such a sparse foundation: contract law is better viewed as one of the instruments whereby the state regulates markets and distributes resources and power. The debate addresses the detailed technicalities of the law, but seeks to relate these technicalities to broader questions of political philosophy.