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- W3125583048 abstract "By a contract I acquire something external. But what is it that I acquire? Since it is only the causality of another's choice with respect to a performance he has promised me, what I acquire directly by a contract is not an external thing but rather his deed, by which that thing is brought under my control so that I make it mine. INTRODUCTION 2 I. AUTONOMY THEORIES OF CONTRACT LAW 7 A. The Harm Principle 9 B. Corrective Justice 10 C. The Self-Ownership Thesis 13 II. A BRIEF REVIEW OF LEADING CONTRACT THEORIES 17 A. Promissory Theories 19 B. Reliance Theories 22 C. Transfer Theories 24 D. Summary 30 III. CONTRACTS AS A TRANSFER OF PROPERTY IN THE PROMISOR'S ACTIONS 3 1 A. Contracts as Consensual Transfers 31 B. Theories of Just Property Acquisition 34 C. Explanatory Benefits 43 IV. POTENTIAL CHALLENGES FOR A PROPERTY THEORY 46 A. The Thinghood Objection to Owning Performance 47 B. The Conceptual Objection to Transfers of Future Acts 50 C. The Rarity of Specific Performance 53 V. IMPLICATIONS OF A PROPERTY THEORY 58 Conclusion 61 INTRODUCTION Kant was right - when we enter into a contract, we acquire ownership of another person's deeds. Yet contract discourse rarely recognizes actions as property.1 This Article shows how thinking of contracts in property terms supports core features of contract doctrine that other theories are incapable of explaining. Developing a coherent theory of contract doctrine in its entirety is notoriously difficult. Arguably, it is impossible.2 However, viewing contracts as a transfer of ownership over future actions renders coherent a large swath of contract law - from formation doctrines, to consideration, to remedies. Property concepts bring order to an otherwise ill-fitting collection of doctrinal pieces. Equally important, understanding contracts as transfers of property offers normative guidance for how the law should develop prospectively. Recently, contract theorists have suggested that the right to contractual performance can be characterized in property terms.3 Unfortunately, their explanations have significant normative and conceptual weaknesses. Legal scholars often distinguish contract rights from property rights rather than note their similarities.4 And, although courts frequently describe contracts as a form of property, there is little judicial explanation of what makes contracts property-like. …" @default.
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- W3125583048 date "2009-01-01" @default.
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- W3125583048 title "A Property Theory of Contract" @default.
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