________ Is the Idea That Contracts Should Be Enforced Because

question 29

Multiple Choice

________ is the idea that contracts should be enforced because they are the products of the free wills of their creators,who should,within broad limits,be free to determine the extent of their obligations.

• A)Quasi-contract
• B)Promissory estoppel
• C)Capacity
• D)Freedom of contract

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the market equilibrium price.

Supply and Demand

Fundamental economic concepts that describe how the quantity of a good or service provided by producers and the quantity desired by consumers affect its price.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.