Why are contracts important in society
Questions: Why are contracts important in society? What would if we didn’t have contracts? One of the concepts in contract law is that if parties s bad contract, it is sometimes more efficient to break ii the damages than satisfy it. Do you believe that parti contract have a moral obligation to satisfy it? Name the elements of forming a contract, define then then apply them in context to a contract you have ent some time in your life (nothing personal or that you fe uncomfortable sharing—a normal consumer contract
Why are contracts important in society
Hypothetical: Grandma Meredith was beloved by her family for mat years. Though she had many grandchildren, her parl .”1, favorite was a handsome 10-year-old named Michael ‘A’) day, when Michael’s family was visiting her toward the end of her life, she asked how Michael was doing in school. The family explained how bright and eager Michael was, and Grandma Meredith called him over and wrote a promissory note stating that Michael would receive $5,000 dollars when he turned 18.
Why are contracts important in society
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