How Have the Drafters of the Code Tried to Promote

question 6

Multiple Choice

How have the drafters of the Code tried to promote fair dealing and higher standards in the marketplace?

• A)By applying stringent technicalities to contracts.
• B)By recognizing void contracts.
• C)By discriminating between merchants and nonmerchants.
• D)By imposing the doctrine of good faith.

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Definitions:

Hard Money

Funds contributed directly to a political candidate or party that are regulated by law.

Foreclosures

The legal process by which a lender takes control of a property, evicts the homeowner, and sells the home when the homeowner fails to make mortgage payments.

Checks and Balances

A system in which different parts of an organization or government have powers that affect and control the other parts, ensuring no single part can become too powerful.

President's Veto

The power of the President to refuse approval of a bill or joint resolution and thus prevent its enactment into law.