In the 17th and 18th Centuries, Rather Than Being Concerned

question 57

Multiple Choice

In the 17th and 18th centuries, rather than being concerned with protecting consumers specifically, the judiciary had other priorities.Which of the following issues might be said to have been of a relatively low concern to judges dealing with business related disputes in that era?

• A)Promoting stability and consistency in the law by applying the rules of precedent.
• B)Protecting the freedom of individuals to contract on whatever terms they saw fit in confidence that the Courts would honour their bargains.
• C)Ensuring that individuals were protected from the consequences of their own poorly informed choices.
• D)Ensuring the free, efficient flow of trade and commerce by creating an environment in which legal outcomes were predictable.

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Definitions:

Determinant

A scalar value that can be calculated from the elements of a square matrix and encapsulates certain properties of the matrix. It is often used to determine the invertibility of the matrix.

Cramer's Rule

A theorem in algebra that provides an explicit solution to a system of linear equations with as many equations as unknowns, using determinants.

System of Linear Equations

A set of one or more linear equations that share the same variables.

Interest Rate

A percentage representing the cost of borrowing money or the return on investment for savings.