If an Act Is Legal at the Time of Entering

question 11

True/False

If an act is legal at the time of entering a contract but is subsequently made illegal, the contract is discharged. ​

Identify the components and impact of European and Native American trade interactions.

Grasp the evolution and characteristics of the political system and voting rights in colonial America.

Appreciate the role of religion and religious practices in shaping colonial American society.

Analyze the impact of Enlightenment ideas on colonial America.

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Definitions:

OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of oil-exporting countries aimed at coordinating and unifying petroleum policies to secure fair and stable prices for petroleum producers.

International Cartel

An agreement among companies from different countries aimed at controlling production, fixing prices, or limiting competition in the international market.

Collusion

An agreement, usually secretive, between firms to fix prices, limit supply, or divide markets to reduce competition and increase profits.

Allocative Efficiency

A state of resource allocation where it is impossible to make any one individual better off without making at least one individual worse off, maximizing total social welfare.