Ambiguities in Contracts Are Always Interpreted in Favor of the Party

question 17

True/False

Ambiguities in contracts are always interpreted in favor of the party who wrote the contract,since he or she is the one who knows what the provision is supposed to mean.

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Definitions:

Keynesians

Economists and theories following John Maynard Keynes, advocating for government intervention to manage economic cycles and promote full employment.

Economic Behaviorists

Researchers or economists who study the psychological, social, cognitive, and emotional factors influencing the economic decisions of individuals and institutions.

Monetarists

Economists of the view that changes in the money supply significantly affect the national output in the short term and have major impacts on the price level over extended durations.

MV = GDP

An equation representing the relationship between the money supply (MV) and gross domestic product (GDP), highlighting the velocity of money in economic activities.