1.3. Match the words from column A with those from column B to form suitable expressions.
A
|
B
|
debt
|
arrangements
|
credit
|
promises
|
enforceable
|
an agreement
|
agreed
|
slavery
|
enforcement of
|
price
|
1.4. Say whether these statements are true or false:
1. Contract law can be found, in any significant degree, in noncommercial societies.
2. Problems which arise in an economy based on barter will be handled through property law rather than through contract law.
3. Nowadays kinship ties secured the debt.
4. In noncommercial societies the claim for payment was based on the unjust detention of another’s money or goods.
5. In a market economy a person may seek a commitment today to guard against a change in value tomorrow.
6. A true law of contracts implies the development of a traditional economy.
1.5. Answer the following questions:
1. What ways of enforcing the commitments of individuals do most primitive societies have?
2. What were the forms of securing the debt in early forms of credit transactions?
3. What was the claim for payment based on in noncommercial societies?
4. What does a true law of contracts imply?
5. How do you understand the expression “debt slavery”?
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