June 25, 2024

Rethinking the Definition of Contracts

Daniel Fajardo Villada
Corporate attorney Daniel Fajardo wrote an article for Lexir about the concept of contracts. Mr. Fajardo analyzes how contracts are not only agreements of will that generate obligations but also fundamental instruments of economic and social freedom, highlighting the importance of contractual autonomy. He also addresses the restrictions that the government can impose, noting that these should be reasonable. Lastly, he concludes by calling for the protection and appreciation of contracts as a pillar of economic freedom and a basis for innovation, growth and healthy competition in a free market.

READ: Rethinking the Definition of Contracts

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