Identify/define and Explain the Significance of the Following: Red Guards

question 22

Essay

Identify/define and explain the significance of the following: Red Guards.

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Definitions:

Trade Practice

Trade practice involves the customary ways in which trade is conducted within a particular industry, including standards of conduct, competition, and fair dealing.

Claim in Recoupment

A legal claim made in defense to a counterclaim, aiming to offset or reduce the amount of damages sought by the original claimant.

Personal Defense

Legal arguments or claims that an individual can use to avoid enforcement of a contract or demand based on issues personal to him or her.

Real Defense

Legitimate legal reasons that can be used to avoid the enforcement of a contract or negate an obligation.