What is the scope of the freedom of contract clause of the US Constitution?

The freedom of contract clause of the US Constitution is found in the Fifth Amendment, which states that no person shall be “deprived of life, liberty or property without due process of law.” This clause is a fundamental right that ensures the freedom of contractual agreements between parties. In general, the scope of this clause is broad and gives individuals the right to enter into legally binding agreements with another party. In Alaska, the freedom of contract clause applies to all citizens and is protected by the Alaska Constitution. This means that individuals in Alaska have the right to enter into binding contracts with other parties, as long as they do not violate the rights and protections granted by law. The freedom of contract protects individuals from being held in a contract against their wishes, without proper cause or protection. It also protects individuals from being forced into a contract without their consent. Contracts are enforceable under the Alaska Statutes, which means that a contract can only be terminated according to the terms of the agreement or with the consent of all parties involved. The clause also allows individuals to make modifications to their existing contracts if the changes are mutually agreed upon. The freedom of contract clause ensures that individuals are given the right to create, modify and terminate contracts without undue interference from other parties or the government. This fundamental right helps protect Alaskans from unfair contracts and enables individuals to enter into agreements that are beneficial to both parties.

What is the scope of the freedom of contract clause of the US Constitution?

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