It has been hypothesized that although written contracts are a must in the US, unlike other parts of the world, that it has become increasingly easy to get out of them.
Recently, I have seen a heap of contracts in which one party has attempted to cancel, just because they won’t make much or even any profit. Not that they would take a loss, just that they’d make no monies from it.
Is it legal to let people break contracts? Under what, if any, circumstances? Is it ethical to let them break contracts?
How should this problem (if it is really a problem...something else you may explore) be addressed?
The Ethics Of Breaking A Contract
Length: 6 pages (1650 Words)
The Ethics of breaking a contract
A contract is an agreement between two or more parties, through the exchange of promises, meant to create obligations that are enforceable by law. A contract is therefore a legal relationship involvingthe parties to the contract and which has obligations that can be enforced at law. The enforceability of a contract lies in the fact that the parties to the contract intended that the terms of the agreement be binding upon them. This is to say that the parties entered in to the contract voluntarily and hence they have a moral obligation towards each other to perform their part of the contract.(Cornell University Law School, 2015)
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