‘Rakoff on the Five Justices of Contract Law’

“In the private law workshop’s final meeting of the fall semester, we were pleased to host Professor Todd Rakoff, who presented his recent article, ‘The Five Justices of Contract Law’. Rakoff begins by summarizing the conventional wisdom on the role of justice considerations in contract. These accounts portray justice as having a fairly narrow ambit, taking a backseat to notions of efficiency and the freedom of exchange. As an extreme example, Rakoff highlights the tendency of some law professors to regard justice considerations as being relegated entirely to the rarely successfully invoked doctrine of unconscionability. In Rakoff’s view, such characterizations markedly understate the extent to which contract law is shaped by the courts’ pursuit of justice …” (more)

[Erik Hovenkamp, New Private Law, 12 December]

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