objective principle definition in contract law
Objective Theory of Contract Law & Legal Definition. Objective theory of contract is a doctrine which states that a contract is not an agreement in the sense of a subjective meeting of the minds.However, a contract is instead a series of external acts giving the objective semblance of agreement.his principle states that the existence of a contract is determined by the legal significance of the external acts of a party to a purported agreement, and not by the actual intent of the parties.