Freedom of Contract in the EU and China

Abstract

In modern contract law, freedom of contract is of an underlying principle that people have struggled for centuries. Both China and Europe fully realized its value, although in distinct ways that are deeply rooted in the two regions’ historical and cultural backgrounds. In Europe, freedom of contract is restricted by principles of good faith, fair dealing, social justice and fundamental rights, whereas in China, except for those limitations set by the Europe, the traditional notion of contract voluntariness is rather limited by the collective interests and interests of the state. This paper is intending to describe the different understandings of freedom of contract in the EU and China