freedom to contract Flashcards
definition
right of an individual and business to freely negotiate and establish their own terms without government interference, the issue of voluntariness
freedom to contract and laissez faire
translates to let it be and refers to a policy or attitude of minimal government interference in economic affairs
examples
employment contracts, consumer contracts, real estate contracts
sir george jessel
a judge who advocated for freedom to contract, individuals should have utmost liberty to enter an agreement and that should be upheld by the court
robert nozick
philospoher who viewed freedom to contract as an expression of individual autonomy and a fundamental aspect of a minimal state
patrick atiyah
professor noticed the prominence of freedom to contract in 18-19th century but notice decline recently due to increased regulation