Management and Organizational Studies 2275A/B Lecture 3: Business Law – Lecture 3

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Desmond Mc Keon

Document Summary

Inequality of bargaining power, they have more resources available to them, lawyers, protection, etc: fairness doesn"t matter, all that matters is that you agreed to the contract, it was purely voluntarily on the customers part, fairness is a subjective concept, choice has something to do with fairness, fairness is whatever we voluntarily agree to in a deal, consumer is the one who chose the company and therefore must sign the contract, law assumes that people will look out for themselves, law doesn"t force you into your contract, it allows your to make up your own mind, having contracts promotes trade and commerce, economy (this is important to the government, measure governments: gdp, employment rates, tax revenues, other economic measures, contract law promotes success according to these metrics, contract law is the fundamental to the free market of the economy (?)