Nineteenth-century contract law expanded to serve the new market economy.

Evidence

The nineteenth century was the golden age of the law of contract. As late as Blackstone, contract law occupied only a tiny corner in the edifice of the common law. Blackstone devoted a whole volume to land law, but a few pages at most to contracts—​that is, informal, freely negotiated bargains. In the nineteenth century, contract law, both in England and America, made up for lost time. This was only natural. Contract law was law for a growing economy. It was law for arm’s-​length deals, in a free, impersonal market. Contract law grew to adolescence and adulthood in the age of capitalism, the age of Adam Smith. — Lawrence M. Friedman, A History of American Law, 1620

Categorization

  • XREF: connects to: Commercial law shifted from merchants to broad market participants — Lawrence M. Friedman, A History of American Law, 1568; Commercial law developed before states enforced contracts at scale. — PAUL R. MILGRO, PAUL R. MILGRO - THE ROLE OF…, 22; Nineteenth-century courts shifted tort law toward negligence to favor industrial growth — G. Alan Tarr, Judicial Process and Judicial…, 3405 (+3 more)

Broader Connections