Define the Concept of a Collective Good

question 94

Essay

Define the concept of a collective good. Provide one example.

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Definitions:

Parol Evidence

A rule that prohibits the admission of oral or extrinsic evidence to contradict, vary, or add to the terms of a written contract.

Assignor

The party in a contract who transfers rights or interests to another, known as the assignee.

Obligee

A contractual party who agreed to receive something from the other party.

Parol Evidence Rule

A legal principle that prevents parties to a written contract from presenting extrinsic evidence of terms that would contradict, modify, or add to the written agreement.