Abstract
Freedom of contract is a principle of law, expressing three related ideas: parties should be free to choose their contracting partners (“party freedom”), to agree freely on the terms of their agreement (“term freedom”), and where agreements have been freely made, parties should be held to their bargains (“sanctity of contract”). This entry provides an overview of the economic justifications and limitations of this principle.
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Further Readings
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Cserne, P. (2014). Contract, Freedom of. In: Backhaus, J. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7883-6_538-1
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DOI: https://doi.org/10.1007/978-1-4614-7883-6_538-1
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Contract, Freedom of- Published:
- 08 May 2021
DOI: https://doi.org/10.1007/978-1-4614-7883-6_538-2
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Contract, Freedom of- Published:
- 30 December 2014
DOI: https://doi.org/10.1007/978-1-4614-7883-6_538-1