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BA621-L4A2 - February 1 2010 BA621 Business Law Lesson#4...

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February 1, 2010 – May 21, 2010 BA621 Business Law Lesson #4 Assignment #2 As you consider the benefits of contract law, the following questions (from page 263 of your text) will urge you to think about the primary ethical norms that influence the law of contracts. 1) Which primary ethical norm would be most important to someone who viewed contract law as a crucial method of promoting predictability in exchange? Clue: This person might want to ensure that his business runs smoothly, even though some of his operations depend on another business or individual to honor the terms of the contract. Security would be most important to this person because contracts—and the fear of being brought to court for not fulfilling their end of the deal—work as motivators for ensuring that things go as planned. The particular form of security is self-confidence in the deal going through; without a contract, the individual would not be able to rely on the other party following through as there is no enforceability.
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