Imagine a world without legally enforceable contracts. Could such a world function? Well, even if it could, commercial life in particular would be much less certain. Let’s say that you ordered a book from a website. You gave the seller your credit card details, they charged the agreed amount to the account, but did not send you the book. In a world without legally enforceable contracts there would perhaps be little you could do about it.
Available at: http://works.bepress.com/dan_svantesson/40/