In a free society, men are not forced to deal with one another. They do so only
by voluntary agreement and, when a time element is involved, by contract. If
a contract is broken by the arbitrary decision of one man, it may cause a
disastrous financial injury to the other . . . . This leads to one of the most
important and most complex functions of the government: to the function of an
arbiter who settles disputes among men according to objective laws.