— Also termed liberty of contract; autonomy of the parties. [Cases: Constitutional Law 89. C.J.S. Constitutional Law § 491.]
“Like most shibboleths, that of ‘freedom of contract’ rarely, if ever, received the close examination which its importance deserved, and even today it is by no means easy to say what exactly the nineteenth-century judges meant when they used this phrase. At least it may be said that the idea of freedom of contract embraced two closely connected, but none the less distinct, concepts. In the first place it indicated that contracts were based on mutual agreement, while in the second place it emphasized that the creation of a contract was the result of a free choice unhampered by external control such as government or legislative interference.” P.S. Atiyah, An Introduction to the Law of Contract 5 (3d ed. 1981).