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11 - Negotiation, the Function of Contract and the ‘Justice of Consensus’

from Part III - Transactions and Risk: Private Law and the Market

Published online by Cambridge University Press:  09 April 2021

Stefan Grundmann ,
Hans-W. Micklitz  and
Moritz Renner
By
Stefan Grundmann
Stefan Grundmann
Affiliation:
European University Institute, Florence
Hans-W. Micklitz
Affiliation:
European University Institute, Florence
Moritz Renner
Affiliation:
Universität Mannheim, Germany
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Summary

This chapter addresses the function that negotiations and contracts fulfil in society (and in law) and explores the extent to which consensus is a source of legitimacy for legal effects (‘justice of consensus’) – including the negative side, the limits of the legitimacy of consensus. More in detail, this chapter is about three main sub-questions: justification(s) for freedom of contact and of its limitations; which kinds of particular limitations may be legitimate, namely whether and when redistribution is a legitimate goal, and how much rationality can be assumed or not and which reactions are advisable in case of biases. One particular prerequisite for ‘free’ decision-making – free in a meaningful way, that is, information – is dealt with in Chapter 12.

Type
Chapter
Information
New Private Law Theory
A Pluralist Approach
 , pp. 207 - 229
Publisher: Cambridge University Press
Print publication year: 2021

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References

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