Discuss the Changes the Court Has Made with Regard to the Interpretation

question 6

Essay

Discuss the changes the court has made with regard to the interpretation of the term "man of reasonable caution." Do you agree with these changes? Why or why not?

---

Definitions:

Consumer Surplus

The disparity between the cost consumers are prepared to pay for a good or service and the cost they actually encounter.

Buyers

Individuals or entities that purchase goods or services in the market.

Sellers

Individuals or entities that offer goods or services for sale to consumers or other businesses.

Inefficently

Operating in a manner that does not maximize productivity or use resources in the best possible manner.