What is the definition of Objective Theory of Contract?
A principle in U.S. imperative that the existence of a contract is determined by the legal significance of the external act of a party to a purported agreement, fairly than by the actual intent of the parties. Some disagreement exists as to whether the COMMON LAW governing contracts required magistrates to determine the subjective intent of the parties within order to authorize the existence of a contract, or whether judges be required to view the external act of the parties and consequently determine, in an object manner, whether a contract have been formed. Some scholar maintain that the adjectives law have long employed an objective examination for recognizing a contract. Other scholar and writers claim that the widespread use of the aim theory of contracts surrounded by the courts was a much more recent phenomenon, maybe developed during the late nineteenth century. Whatever the specific descent of objective notion may be, it is clear that by the late nineteenth century American te
