Under the U

question 233

Multiple Choice

Under the U.S. system of regulation, most regulars are selected from

• A) politicians and their friends.
• B) the industry that is to be regulated.
• C) consumer advocacy groups.
• D) university professors who understand the nature of the industry and who understand the true interests of consumers.

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Definitions:

Enforceable

describes a contract or covenant that can be legally imposed or carried out through legal action.

Incapacitated

A state where an individual is unable to take care of themselves or manage their affairs due to physical or mental limitations.

Contract Law

The body of law that governs the creation, enforcement, and interpretation of agreements between parties.

Jurisdictions

The official power to make legal decisions and judgments, often within a specified geographic area or over certain types of legal cases.