In the absence of this "well informed consent" traditionally, any contract could be declared null and void. This is the basis for business ethics. It is NOT intended for morality between individuals but between customers and sellers, business partners, etc.
For example, for fraud provisions to work, I am coerced to write out the details of what the contract is for, because if I don't the other party could claim fraud and I would have no proof of what we agreed on; they might fabricate details... it goes on.
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lol that ain't coercion buddy that's just common sense.
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It's not, there even today are tons of business deals that are just handshakes, I've seen them myself.
End of conversation
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