Freedom of contract in the context of "Women's rights movement"

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⭐ Core Definition: Freedom of contract

Freedom of contract is the principle according to which individuals and groups may form contracts without government restrictions. This is opposed to government regulations such as minimum-wage laws, competition laws, economic sanctions, restrictions on price fixing, or restrictions on contracting with undocumented workers. Freedom to contract underpins laissez-faire economics and is a cornerstone of free-market libertarianism. The proponents of the concept believe that through "freedom of contract", individuals possess a general freedom to choose with whom to contract, whether to contract or not, and on which terms to contract.

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Freedom of contract in the context of Women's rights

Women's rights are the rights and entitlements claimed for women and girls worldwide. They formed the basis for the women's rights movement in the 19th century and the feminist movements during the 20th and 21st centuries. In some countries, these rights are institutionalized or supported by law, local custom, and behavior, whereas in others, they are ignored and suppressed. They differ from broader notions of human rights through claims of an inherent historical and traditional bias against the exercise of rights by women and girls, in favor of men and boys.

Issues commonly associated with notions of women's rights include the right to bodily integrity and autonomy, to be free from sexual violence, to vote, to hold public office, to enter into legal contracts, to have equal rights in family law, to work, to fair wages or equal pay, to have reproductive rights, to own property, and to education.

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Freedom of contract in the context of Financial regulation

Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or principal–agent problems. An integral part of financial regulation is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervisors.

In some jurisdictions, certain aspects of financial supervision are delegated to self-regulatory organizations. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law.

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Freedom of contract in the context of Unequal bargaining power

Inequality of bargaining power in law, economics and social sciences refers to a situation where one party to a bargain, contract or agreement, has more and better alternatives than the other party. This results in one party having greater power than the other to choose not to take the deal and makes it more likely that this party will gain more favourable terms and grant them more negotiating power (as they are in a better position to reject the deal). Inequality of bargaining power is generally thought to undermine the freedom of contract, resulting in a disproportionate level of freedom between parties, and it represents a place at which markets fail.

Where bargaining power is persistently unequal, the concept of inequality of bargaining power serves as a justification for the implication of mandatory terms into contracts by law, or the non-enforcement of a contract by the courts.

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Freedom of contract in the context of Russian Civil Code

The Civil Code of the Russian Federation (Russian: Гражданский кодекс Российской Федерации, frequently abbreviated 'ГК РФ') is the prime source of civil law for the Russian Federation. The Russian Civil Law system descended from Roman Law through Byzantine tradition. It was heavily influenced by German and Dutch norms in the 18th and 19th centuries. Socialist-style modifications took place during the Soviet period (1922–1991) and Continental European Law influences since the 1990s.

The Civil Code of the Russian Federation came into force in four parts. The first part, which deals with general provisions (i.e. defines sources, names legal entities etc.) was enacted by the State Duma in 1994 and entered into force in 1995. The second part (dealing with the Law of obligations) entered into force in 1996. The third part (Succession law) entered into force in 2002. The document has certain basic principles: equality of all participants guaranteed by civil law, inviolability of private property, freedom of contract, free exercise of civil rights and juridical protection of civil rights.

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