An Improvement in a Country's Legal System That Enhanced the Ability

question 133

Multiple Choice

An improvement in a country's legal system that enhanced the ability of citizens to protect their property rights and enforce contracts would result in which of the following changes to the country's production possibilities curve?

• A) a movement from a point on the curve to a point outside the curve
• B) a movement from one point to another point along the curve
• C) an outward shift of the curve
• D) a movement from a point on the curve to a point inside the curve

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Definitions:

Restatements of the Law

A set of treatises published by the American Law Institute, articulating the principals of common law in the United States.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that establishes a uniform legal framework for international commerce.

Conforming Goods

Products that meet the specifications and standards outlined in a contract of sale.

Perfect Tender Rule

A principle in the Uniform Commercial Code requiring goods delivered under a sales contract to exactly meet the terms of the agreement.