There are philosophical justifications for freedom of contract as well as limitations to it. Freedom of contract expresses individual autonomy and is a feature of free societies, but it can allow commodification, externalities, coercion, and imperfect information that harm third parties or exploit one party. Limitations aim to ensure fair outcomes and address market failures or unequal bargaining power between parties. Jurisdictions like the US, India, and Germany recognize contract freedom but impose constraints to prevent harms.

1. OR THE LACK OF IT Freedom of Contract

20. To Conclude