Morality And Contract Law

1210 Words5 Pages
Introduction
Morality and contract law look like two separate concepts, however, if we consider deeply, we will discover the relationship between them. Morality and legality are traits of law. Consulting the fact that contract law should consider the acceptance of both sides, it will involve more problems about morality. If we attempt to understand the linkage, we should interpretation correlate notions of morality and contract law. What I intend to demonstrate is to hold the understanding of the purpose of contract law constant while analyzing varying understandings of morality. Firstly, I intend to solve what is the purpose of contract law. It is indispensable that we cannot ignore the fact that there exists two types of morality. Hence,
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A contract is a bargain which two or more parties, which intend to create one or more legal responsibility between them in law entered into willingly with a lawful object. Thus, a contract may be formed when two or more parties each promise to perform or to refrain from performing a little action now or in the future. (Boston, T. 1779) What is more, contract law shows what promises or commitments our society believes should be legally binding. Similarly, Professor Arthur Corbin 's (1874–1967) famous first axiom of contract law is that the main purpose of law is the realization of reasonable expectations induced by promises. Hence, comments demonstrate that the purpose of contract law is to protect legal promises or commitments between two or more parties which build a…show more content…
In addition, a personal sacrifice constitutes a vital area where magnanimous morality plays a crucial role. Lee, Dwight R. (2014) said whether magnanimous morality present or not causes anticipated effects on how we view social arrangements and behavior. His observation suggests that magnanimous morality can motivate the reciprocity and cooperation, for people who mean the most to us. Because people usually do the best they can to achieve their disinterested systematically and purposefully, magnanimous morality is rare for someone. But it is equally imperative to notice that the importance of magnanimous morality in partnership. As we mentioned, a contract is an arrangement, so if there exists on magnanimous morality, the collaboration is impossible. Because all feel like benefiting from others, but do not willing to personally caring for and sharing with others, that is, they do not incline to scarcity their own interest. Consequently, magnanimous morality is significant in contract law. What is more, if magnanimous morality is absent, the contract may not exist, and contract law will lose its
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