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2 Social & Legal Studies 5 (1993)

handle is hein.journals/solestu2 and id is 1 raw text is: 








            FROM PROPERTY TO

         CONTRACT: POLITICAL

             ECONOMY AND THE

    TRANSFORMATION OF VALUE

      IN ENGLISH COMMON LAW

                  JAMES HENRY BERGERON
                  University College Dublin, Ireland





                         INTRODUCTION
FFER, ACCEPTANCE and consideration are the fundamental rules
       defining contract in the Anglo-American tradition. During the Formal-
       ist period in legal reasoning, these rules were applied as a non-
ideological process of deduction. They still are in some law schools and
casebooks. Behind the apparent doctrinal purity of contract law, however, lies a
menagerie of political and economic values. The law is seldom ideologically
whole; rather, contract embraces tensions wrought of the uneasy coexistence of
competing philosophies.
  The received tradition, the basic curriculum of every LLB student, makes two
fundamental assumptions. The first is that contract is not property. The two
concepts are rigidly divided, both conceptually and in the organization of
teaching and scholarship. Little comment is made on the historical tensions
between property-based and contractual paradigms of legal relationships. Yet
this eighteenth-century legal crisis was central to the creation of modern contract
law.
  That crisis was linked to the development of the second assumption of the


SOCIAL & LEGAL STmDIES (SAGE, London, Newbury Park and New Delhi),
Vol. 2 (1993), 5-23

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