Contract Law as Fairness

Abstract

This article examines the implications of Rawls’ theory, justice as fairness, for contract law. It argues that contract law as an institution is part of the basic structure of society and as such subject to the principles of justice. Discussing the basic structure in relation to contract law is particularly interesting because it is instructive for both contract law as well as Rawlsian theory. On the one hand, justice as fairness has clear normative implications for the institution of contract law. On the other hand, this discussion forces us to critically assess the meaning and appeal of the concept of a basic structure in justice as fairness.

Keywords: contract law, fairness, Rawls' theory, justice, basic structure

JEL Classification: K12