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The phrase "freedom of contract" is correct and usable in written English.
It can be used in legal, economic, or business contexts to refer to the right of individuals to enter into contracts without interference.
Example: "The principle of freedom of contract allows parties to negotiate the terms of their agreements without undue restrictions."
Alternatives: "contractual freedom" or "liberty to contract".
Dictionary
freedom of contract
noun
The right of individuals to bargain freely among themselves the terms of their own contracts, without government interference.
Exact(59)
Freedom of contract has often been restricted.
Rather than asking, Why interfere with freedom of contract?
Why should government interfere with the freedom of contract between two individuals?
Thus, the establishment of the Wage Board was an unjustified interference with the freedom of contract.
Niva Elkin-Koren, "Copyright Policy and the Limits of Freedom of Contract": 12 Berk.
This was held unconstitutional upon the ground that it interfered with freedom of contract.
We live in an age that glorifies the free market, small government and freedom of contract.
No law which would infringe his freedom of contract in that particular would stand.
The likes of Florent Malouda and Yossi Benayoun will leave under freedom of contract.
I thought a ban, even though it violated freedom of contract, made sense.
Similar(1)
For years, courts have upheld these mandatory arbitration provisions under settled freedom-of-contract principles.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com