Which of the following statements is true about the difference between contracts in common law and civil law systems?
A. Contracts drafted under a common law system tend to be longer than those drafted under a civil law system.
B. Contracts drafted under a civil law system tend to be more specific than those drafted under a civil law system.
C. It is more expensive to draw up contracts in a civil law system than in a common law system.
D. Resolving contract disputes tends to be less adversarial in common law systems than in civil law systems.
E. Civil law systems have the advantage of greater flexibility and allow for judges to interpret a contract dispute in light of the prevailing situation but this feature is absent in common law systems.
A
Because common law tends to be relatively ill specified, contracts drafted under a common law framework tend to be very detailed with all contingencies spelled out.
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A. A $96,007 reduction in assets. B. A $96,007 increase in assets. C. A $100,000 reduction in assets. D. A $100,000 increase in assets. E. A $100,000 increase in liabilities.