Two Concepts of Contracts [No. 86]

Professor Todd Zywicki explains the two primary theories of Contracts - contracts as consent, and the economic theory of contracts. The first theory, contracts as consent, focuses on the ability of the parties to voluntarily accept and enter into the terms of a contract. The economic theory focuses on the external manifestation of a contract, rather than the intent or ability of the parties involved.

Professor Todd J. Zywicki is George Mason University Foundation Professor of Law at George Mason University Antonin Scalia Law School, and Research Fellow at the GMU Law & Economics Center.
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