February 2014 Archives

The foundation in the United States for commercial business, between consumers and retail sellers, as well as between business owners, is the sacrosanct idea that a promise in a contract is to be performed. The underlying expectation is the basis for all of our economic successes (and sometimes failures). This expectation is both an unwritten moral code as well as firmly embraced in our laws. For example, the United States Constitution even contains prohibitions on Congress, though hard to enforce, against laws that would excessively impair with an existing and ongoing contract. (Article 1, Section 10)