The Just Price Doctrine and Contemporary Contract Law: Some Introductory Remarks

This paper discusses the possibility of applying the insights provided by the doctrine of the just price to the current debate about contractual justice. After summarizing the just price doctrine and addressing the objections traditionally raised against it, the paper identifies the role that just price theory could play in contemporary contract law and suggests a general standard of proportionality in exchange as a constraint on the full application of freedom of contract.