looking at the case law and other authorities do you think that contract law today is based on yhe three principles of privity of contarct,sanctity of contarct andfreedom of contract

A letter stating a deal is "subject to contract" means that neither party are held responsible until a contract is signed. Using this term in a contract correspondence allows both parties to know that a contract is forthcoming and that nothing is binding as of yet.

A charter(:
A charter was a written contract permitting the establishment of a colony.

No, a contract is not considered ratified by reaching a majority. A court only upholds ratifications to a contract that meet all legal requirements and is agreed upon by all participating parties.