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Contractual Freedom and its Limitations

  • Lucia Uta


    ("Dimitrie Cantemir" Christian University)

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    Parties’ freedom of will is expressed through the following three principles: 1. contractual freedom; 2. the binding power of the contract; and 3. the relativity of the contract’s effects. The parties are free to contract or not, to choose the other contracting party and to determine the content of the contractual clauses. The principle of mutual consent appears as a corollary of the freedom of will principle. According to this principle, the parties’ simple manifestation of will is sufficient to form a valid contract.

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    Article provided by Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest in its journal Knowledge Horizons - Economics.

    Volume (Year): 2 (2010)
    Issue (Month): 4 (December)
    Pages: 74-78

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    Handle: RePEc:khe:journl:v:2:y:2010:i:4:p:74-78
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