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Should Students Accept the Predictions of Economic Models

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Should students accept the predictions of economic models?

Recognize the significance of the Uniform Commercial Code (UCC) in modifying common law rules regarding contracts.
Analyze the role of nominal consideration in contracts and its impact on the enforceability of agreements.
Understand the legal implications of promises made with moral considerations or in societal interest without conventional consideration.
Explore the concept of promissory estoppel as an exception to the consideration requirement.

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