Major trains of thought
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Nature of Things
Fact of the Universe
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Ship of Theseus
I'm 14 and this is deep
Words
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A Moral Contract is a consentual agreement between two or more individuals that seeks to establish an agreed upon exception from what would otherwise be the default handling of morality. For example, it is not morally acceptable to just have sex with any person one chooses to, but an exception can be made to this when both sides consent to it1), entering an implicit moral contract. This contract must be consented to by everyone who is involved, so if there are more than two people involved in your sex (for example if you tried having sex outdoors in the public) then you would involve everyone from the public and need the consent from everyone. Since you are unlikely to get that, your sex will be mostly constrained to your or your partner's bedroom, away from other people's eyes or ears (preferrably, keep your fun at a reasonable volume), noses and whatever other senses people have.
Moral Contracts exist at all levels of human interaction, including having children, the things that children get to call their “own”, money, essentially every activity that requires consent, Claims and so on and so forth. They differ from legal contracts in that moral contracts only seek to establish a framework for people to do things that require consent in a way that is moral. Whether those things are then legal is a completely different question, as the law likes to insert itself between objective morality and the way we handle reality.2)