Raul Agrees to Ship to Ben One Hundred Ceiling Fans

question 27

Multiple Choice

Raul agrees to ship to Ben one hundred ceiling fans for $5,000. Raul initials his notes of the deal, which include the terms, and files the notes in his office. Ben initials his own notes of the deal, which include the terms, and files the notes in his office. Raul fails to ship the fans. Against Raul, as a contract, the deal is​

• A) ​enforceable, because under the UCC a contract need not written.
• B) ​enforceable, because Raul's initialed notes are a sufficient writing.
• C) ​enforceable, because Ben's initialed notes are a sufficient writing.
• D) ​not enforceable.

Identify and understand the concepts of market failure and government failure.

Examine the implications of direct and indirect government interventions in markets, including subsidies and favoritism towards certain economic actors.

Explore the dynamics of special-interest issues and their impact on governmental policies and resource allocation.

Understand the concept of special-interest legislation and its implications for economic efficiency and political corruption.

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Definitions:

Firearms

Portable weapons that launch one or more projectiles driven by rapidly expanding high-pressure gas produced chemically by combustion or other means.

Legislation

Laws and statutes that have been formally enacted by a legislative body, which govern the actions of individuals and organizations within the jurisdiction.

CRTC

The Canadian Radio-television and Telecommunications Commission, a governing body regulating broadcasting and telecommunications in Canada.

Licences

Official permissions granted by regulatory authorities allowing individuals or entities to engage in certain regulated activities.