Abstrakt

This paper outlines the subject of contract law theory as a distinct field of study. It introduces the questions that contract law theorists ask and provides an overview of the possible answers. It distinguishes three such questions and three groups of answers proposed in the literature. The ontological questions concern the definition of contracts, which is crucial for autonomy-based theories of contract law. The normative question concerns contracts’ binding force, which is crucial for justice-based theories. The institutional question concerns the design of contract law’s rules, which is crucial for efficiency-based theories. The paper summarises the most important achievements from each group and provides an overview of the contemporary contract law theory.