Freedom of contract is the freedom of individuals and corporations to form contracts without government restrictions. This is opposed to government restrictions such as minimum wage, competition law, or price fixing. The freedom to contract is the underpinning of laissez-faire economics and is a cornerstone of free market libertarianism. Through freedom of contract individuals entail a general freedom to choose with whom to contract, whether to contract or not and on which terms to contract.
Read more about Freedom Of Contract: History, Exclusion Clauses, Literature
Famous quotes containing the words freedom and/or contract:
“What I would like to give my daughter is freedom. And this is something that must be given by example, not by exhortation. Freedom is a loose leash, a license to be different from your mother and still be loved. . . . Freedom is . . . not insisting that your daughter share your limitations. Freedom also means letting your daughter reject you when she needs to and come back when she needs to. Freedom is unconditional love.”
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“Smoking ... is downright dangerous. Most people who smoke will eventually contract a fatal disease and die. But they don’t brag about it, do they? Most people who ski, play professional football or drive race cars, will not die—at least not in the act—and yet they are the ones with the glamorous images, the expensive equipment and the mythic proportions. Why this should be I cannot say, unless it is simply that the average American does not know a daredevil when he sees one.”
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