What is the scope of the freedom of contract clause of the US Constitution?
The scope of the freedom of contract clause of the US Constitution is a broad one. This clause allows individuals to freely enter into contracts with other individuals and businesses and sets out the rights and obligations of parties entering into a contract. This clause guarantees that people can enter into contracts without government interference and prevents the government from creating laws that infringe on contract rights. Contractual rights established by the clause include the right to enter into valid contracts, the right to enforce contracts that have been agreed upon, and the right to receive enforceable damages when the contract is breached. In Virginia, the freedom of contract clause is just as applicable, although certain statutory and common law limitations related to certain agreements, such as those related to illegal activities, may apply. In addition, Virginia courts have interpreted the clause to mean that parties to a contract must act in good faith, meaning that there must be no deception or fraud committed by either party in order for the contract to be legally enforceable. The freedom of contract clause protects parties to a contract, small or large. It ensures that contracts are enforceable at law, and that parties to a contract can receive damages if the contract is breached. The clause is an important part of the US Constitution, and Virginia courts have interpreted it to ensure that rights of parties to contracts in the state are protected.
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