In the twilight of utilitarianism contract theorist sought to respond to the problems that utilitarianism had thrown up. How successful were they? Our review of contract theory has shown that it is not possible to base a contract theory on a utility theory of rationality, even though some have claimed that such a theory states the essential elements of rational behaviour. The axioms of utility theory are controversial in themselves, and do not give an account of prudence. To have an account of prudence, we need to turn to the deliberative account of rationality, and the idea of intelligibility. The practical syllogism will only take us so far, however, and will not deal with cases where interests conflict. There is no need to make a sharp distinction between contract theories in which there is a plurality of agents, without a veil of ignorance, and a single agent behind a veil of ignorance. The singular veil of ignorance construction can be regarded as a more abstract thought experiment in situation of moral perplexity. Similarly, the distinction between mutual advantage theories, which involve essential reference to a baseline of non-cooperation, and baseline independent theories is not clear, since much depends on the character of the baseline. The problem of obligation remains unresolved, but its lack of resolution underlines a conclusion of Hart to the effect that coercion is an essential element of a large-scale society.