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The dignity of commerce : markets and the moral foundations of contract law / Nathan B. Oman.

By: Material type: TextTextPublisher: Chicago : The University of Chicago Press, 2017Description: 1 online resourceContent type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9780226415666
Subject(s): Additional physical formats: Print version :: No titleDDC classification:
  • 346.07 23
LOC classification:
  • K840 .O57 2017
Online resources: Summary: Why should the law care about enforcing contracts? We tend to think of a contract as the legal embodiment of a moral obligation to keep a promise. When two parties enter into a transaction, they are obligated as moral beings to play out the transaction in the way that both parties expect. But this overlooks a broader understanding of the moral possibilities of the market. With 'The Dignity of Commerce', Nathan B. Oman argues persuasively that well-functioning markets are morally desirable in and of themselves and thus a fit object of protection through contract law. Markets, Oman shows, are about more than simple economic efficiency. To do business with others, we must demonstrate understanding of and satisfy their needs. This ability to see the world from another's point of view inculcates key virtues that support a liberal society.
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Previously issued in print: 2017.

Includes bibliographical references and index.

Why should the law care about enforcing contracts? We tend to think of a contract as the legal embodiment of a moral obligation to keep a promise. When two parties enter into a transaction, they are obligated as moral beings to play out the transaction in the way that both parties expect. But this overlooks a broader understanding of the moral possibilities of the market. With 'The Dignity of Commerce', Nathan B. Oman argues persuasively that well-functioning markets are morally desirable in and of themselves and thus a fit object of protection through contract law. Markets, Oman shows, are about more than simple economic efficiency. To do business with others, we must demonstrate understanding of and satisfy their needs. This ability to see the world from another's point of view inculcates key virtues that support a liberal society.

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Description based on online resource; title from home page (viewed on August 17, 2017).

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