Write a Brief Note on Relational Contracts and Its Advantages

question 71

Essay

Write a brief note on relational contracts and its advantages?

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Definitions:

Misrepresentation

The act of providing false or misleading information, often in a contractual context where one party deceives another.

Plaintiff

The person or party who initiates a lawsuit in court against another party, alleging wrongdoings that caused harm or loss.

Fraud

The act of intentionally deceiving or misleading another person or entity for financial or personal gain, resulting in harm or loss.

Liability

A legal responsibility or obligation, either financial or otherwise, that arises from actions or transactions.