Not exact matches
Yet even a purely laissez - faire system requires government to enforce
contracts, protect private property, prevent fraud, produce public goods such as defense and
roads, and protect third parties from «externalities» such as pollution and public hazards.
He said construction works on many cocoa
roads linking farm gates were steadily progressing while several others were
yet to be awarded on
contract.
People enter into small dollar value
contracts all of the time, and it can be economical to do so (consider parking meters,
road tolls, Netflix, vending machines, grocery store check out line candy, and library fines), all of which involve tiny transaction values and
yet are widely used.
Worse
yet, those documents are not self - reliant, meaning a
contract can be changed hours, days, or months later outside the system, and neither you nor your client, nor any third party down the
road, will necessarily realize they are looking at a
contract that has been altered.