Answer to Question #215322 in Law for Science

Question

Explain why freedom of contract is not always beneficial to all contracting parties.

Answer 1

A legal contract is a legally enforceable agreement between two or more parties. Typically, a party promises to do something for the other in exchange for a benefit. A legal contract must have a lawful purpose, mutual agreement, consideration, competent parties, and genuine assent to be enforceable.The doctrine of freedom of contract has always been respected by the Law, which allows parties to provide for the terms and conditions that will govern the relationship.Freedom of contract is an ideologically charged notion which may attract strongly-held political beliefs but which eludes the interest of the lawyer in his everyday work for the most part.