The relationship between contract law and property law

Abstract

It is commonly understood that contract law and property law are different areas of law which address different issues. This article departs from this conventional position in a rather radical way by arguing that the conclusion, amendment, and termination of contracts are in fact property law transactions and that the strict divide between contract law and property law is therefore not justifiable. It demonstrates theoretical and practical implications as contract law must be redefined and aligned with the general property law framework to avoid inconsistencies and thus the violation of the notion of formal rationality.