Developing Infrastructure and Ensuring That Property Rights Will Be Protected

question 141

True/False

Developing infrastructure and ensuring that property rights will be protected can help a poor country grow more quickly according to de Soto's book The Other Path.
De Soto concluded that countries could grow more quickly if governments encouraged rather than suppressed entrepreneurial resources.In his best-selling book,The Other Path,he urged poor countries to refocus their development policies.This "other path" entails improving the business climate by reducing bureaucratic barriers to free enterprise,spreading private ownership,developing and enforcing legal safeguards for property,income,and wealth,and developing infrastructure that facilitates business activity.

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Definitions:

Condition Precedent

A condition in a contract that must be met before a party's obligation becomes enforceable.

Condition Subsequent

A legal term referring to an event or state of affairs that, if it occurs, will terminate a party's rights under a contract.

Repudiation

The rejection or denial of the validity of a contract, claim, or other obligations, implying an intent not to fulfill the terms.

Breach of Contract

The failure, without legal excuse, to perform any promise or obligation stated in a contract, which may entitle the other party to legal remedies such as damages.