Economic growth is an increase in the production
of goods and services in an economy.
Economic growth is necessary to increase the
standard of living in the economy.
Concern with promoting long-run economic
growth is associated with cla
Chapter 16Third Parties to Contracts
TRUE/FALSE 1. After an assignment, only the assignee has a right to the obligor's performance. ANS: T PTS: 1
2. The person who makes an assignment is the assignor. ANS: T PTS: 1
3. A gratuitous assignment is always rev
Chapter 17Performance, Breach, and Discharge
TRUE/FALSE 1. The law assumes that respective performances under a contract are concurrent conditions, unless there is an agreement to the contrary. ANS: T PTS: 1
2. A condition may be inserted into a contract
Chapter 20Relationship with Third Parties
1. Roy is the promoter of a new corporation that has not yet been incorporated. On behalf of the as-yet
unincorporated business, he enters into a three-year lease agreement for office space and personal
Chapter 18Contract Remedies
TRUE/FALSE 1. An employees promise of providing ordinary personal services may be enforced by an injunction against serving another employer. ANS: F PTS: 1
2. To fully compensate plaintiffs in breach of contract cases, courts a
Chapter 19Relationship of Principal and Agent
1. A gratuitous agent has a duty of loyalty and is liable for any harm caused by his careless performance.
2. An agent will not be authorized to act for a principal unless he receives