Class Notes (836,246)
Canada (509,715)
Economics (1,296)
ECN 340 (202)
Lecture

Chapter 5

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Department
Economics
Course
ECN 340
Professor
Thomas Barbiero
Semester
Fall

Description
ECN 340 Chapter 5The New Home Economicsy Family is a firmy Transforms inputs and produces the things wanted by the family The Marriage Contract y Marriage is a legally enforceable contract between two peopley It is an open ended contract not all eventual possibilities are spelled out Kind of like a prenup y Marriage is much like a constitution y The purpose of dating is to work out provisions of the contract Some people do not take enough time to do this y Poorly put together contracts soon leas to dissolutiony What are some of the misunderstandings that can occur in a marriage contract children money y What would you include in the contract whatever is important to youy What are the obstacles of taking your spouse to court for breach of the contract For example suing him for not cutting the grass Misunderstanding has to be flexible to some degreey Divorce is dissolution of the contract just like a break up of a bus
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