  Monads are well known to be equivalent to lax functors out of the terminal
category. Morita contexts are here shown to be lax functors out of the chaotic
category with two objects. This allows various aspects in the theory of Morita
contexts to be seen as special cases of general results about lax functors. The
account we give of this could serve as an introduction to lax functors for
those familiar with the theory of monads. We also prove some very general
results along these lines relative to a given 2-comonad, with the classical
case of ordinary monad theory amounting to the case of the identity comonad on
Cat.
