The importance of free consent is very much important factor in the law of contract. Without the free consent of the contracting party, the performance of contract is impossible. Performance is the basic provision of the valid contract.
The importance of the free consent is as below:
- To respect the contractual independency of the parties.
- To promote the reasonable transaction.
- To response the intention of the parties.
- To protect the parties of the contract in case they are compelled to enter in to a contract under fraud, coercion, undue influence, or misrepresentation.
- Meeting of contract.
- Enforceability of contract.
- Free consent is the foundation of valid contract. Without free consent any agreement can not bear the status of valid contract.
- Without free consent any agreement does not amount the valid contract and such contract cannot be enforced by the court of law.
- Under the free consent, parties are autonomous to determine the consideration.
- Free consent creates the meeting of the mind (Consensus ad idem) between the parties of contract.
- Free consent creates the legal obligations to obey their commitments for parties.
- Free consent binds the parties to fulfill their obligations and makes sure to resume the rights.
- Free consent helps to make conducive environment to determine the consideration
- Free consent secures the remedy for aggrieved party.
- Free consent helps to perform the consent.
- Finally, free consent helps to create the favorable legal environment to growth and to develop the business realm etc.