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Why Did Contract Law Develop for Hundreds of Years and Function

question 73

Essay

Why did contract law develop for hundreds of years and function well without a Uniform Commercial Code? Why did any need for standardized laws from one jurisdiction to another not get addressed until the beginning of the twentieth century?


Definitions:

Forecast

A prediction or estimate of future events, especially concerning weather or economic conditions.

Questionnaires

A research instrument consisting of a series of questions for the purpose of gathering information from respondents.

Delphi Method

A forecasting process framework based on the results of multiple rounds of questionnaires sent to a panel of experts.

Panel of Experts

A group of individuals with specialized knowledge or expertise in a particular field, convened to give advice or make decisions.

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