Brian Coote, CBE, FNZAH, FRSNZ is an Emeritus Professor and sometime Dean of Law at the University of Auckland, and has published widely on Contract topics Rick Bigwood is Professor of Law at the University of Auckland and Director of the Research Centre for Business Law.

• 1. Introduction 2. The Essence of Contract Introduction Textbook Definitions Contract Theories The Secret Paradox The Failure of Traditional Contract Theories The Reaction Against Classical Concepts of Contract The Need for a More Inclusive Theory A Suggested Solution to the 'Secret Paradox' The Essence of a Contract Some Consequences The Contemporary Near-Contracts Conclusion 3. Consideration and Benefit in Fact and in Law The Facts The Judgment The Meaning of the Decision An Explanation for the Decision Bilateral Contracts Unilateral Contracts Conclusion 4. Consideration and the Variation of Contracts: A Different Solution 5. Consideration and the Joint Promisee The Arguments for the Joint Promisee Principle Two Fallacies Joint Promisee as Promisor Unilateral Contracts Conclusion Addendum 6. The Function of Exception Clauses The Current Approach Are Exception Clauses Substantive or Procedural In Their Effect? Can the Parties to a Contract Create Rights Intended by Them to be Unenforceable? A Different Approach Suggested A Suggested Classification of Exception Clauses The Interpretation of Exception Clauses In Relation to Their Function Some Special Consequences of the Exception Form Conclusions Addendum 7. The Second Rise and Fall of Fundamental Breach Discharge for Breach and Deviation Distinguished The Function of Exception Clauses The Suisse Atlantique Case The Second Version of Fundamental Breach The Securicor Case The Significance of Securicor for the Future Conclusion 8. Contract Damages, Ruxley, and the Performance Interest The Ruxley case A Basic Ambiguity in Contract Damages Damages as Protection of the Performance Interest Other Protections of the Performance Interest Extending the Potential Inclusiveness of Performance Protection The Compensation Principle Reinstatement and Repair: Building Contracts Difference in Value in Building Cases Three Questions The Place of General Damages Summary and Conclusions Addendum: Two Recent Cases 9. The Performance Interest, Panatown, and the Problem of Loss The Arguments The Problem of Characterisation The Narrow Ground The Albazero Exception The Broad Ground Who Suffered the Loss? The Position Where Both Have Suffered Loss Conclusion 10. Contract not Trust: Some Questions About the Contracts (Rights of Third Parties) Act from Another Perspective Contract or Not? A New Form of Contract? The Availability of Equitable Remedies Failure of Consideration Defences Available to the Promisee Conclusion 11. Assumption of Responsibility and Pure Economic Loss in New Zealand Assumption of Legal Liability in Tort Assumption of Non-Tort Obligation Assumption of a Task Conclusion

There is much to commend in this work...[it] remains a stimulating and worthwhile read. Its publication serves as a reminder that there are those within Common Law academic circles willing to think radically about contract theory, in ways which offer the genuine possibility of fashioning a theory which might serve not just the Common Law but the other legal families also. Martin Hogg The Edinburgh Law Review Volume 15, Issue 2, May 2011