Action that triggers a contract provision

Assignment Help Microeconomics
Reference no: EM131685603

Question: You and I have signed a contract. You hired an incompetent lawyer (but one who was officially certified to practice law) to negotiate your side of it. I engage in some action that triggers a contract provision that imposes a financial burden on you and benefits me. Had your lawyer been competent she would not have allowed that provision into the contract. Was I acting opportunistically under our definition? Is it economically efficient if the law allows you to avoid paying me (it usually does not) because you claim your lawyer was incompetent.

Reference no: EM131685603

Questions Cloud

Under what type of business structure should mary operate : LST5CCL Company and Commercial Law Assignment. Under what type of business structure should Mary, Fred and Chris operate now
Describe claims about inability to qualify for jobs : They are, however, willing to entertain suits against trade schools (those that teach skills such as welding and computer repair).
Explain any problems you see with leaving the two systems : Identify any additional information you would need to recommend a solution, and explain where you would likely find that information.
Write a tweet and a blog in the same style as the company : What are the most important things your fellow employees need to know about business practices and cultural norms?
Action that triggers a contract provision : I engage in some action that triggers a contract provision that imposes a financial burden on you and benefits me. Had your lawyer been competent she would not.
What pricing model has best buy adopted : What were the keys to Best Buy's success? How have they differentiated themselves?What pricing model has Best Buy adopted?
Which is the steepest face of mt erin : Which is the steepest face of Mt Erin - its northern or southern face? How do you know? How do you know that Mt Erin is more than 350 m above sea level?
Define powdered sugar than unpolluted water : Water containing a pollutant solute will be able to dissolve a smaller amount of powdered sugar than unpolluted water
Develop a business assessment for the company : Develop a business assessment for the company, focusing on managing employees from an HR perspective in a grocery store environment

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd