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Game Theory and Cooperation Quiz

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Questions and Answers

What is emphasized in legal notions regarding contracts as opposed to economic notions?

Function created by agents

Legal enforceability

Legal effects

Content basis of contracts (correct)

Which aspect is usually not considered effective in ensuring cooperation for long-term relationships?

Formal enforcement (correct)

Social norms

Reciprocity

Legal enforcement

What can increase under enforcement other than legal incentives?

Non-legal incentives (correct)

Financial penalties

Regulatory fines

Legal strictness

Which mechanism is mentioned as simple and incomplete in terms of enforcing contracts?

Formal enforcement Signup and view all the answers

What do economic notions perceive contracts as, in contrast to legal notions?

'Protecting' future actions Signup and view all the answers

What is the main purpose of law in society according to the text?

Avoids or settles disputes Signup and view all the answers

Which of the following is NOT a function of the law as mentioned in the text?

Promotes social inequality Signup and view all the answers

In which country does the legal system include Civil, Common, Jewish & Muslim laws?

Israel Signup and view all the answers

What is the significance of a writ in the legal system as per the text?

A comm& of the King directed to resolve disputes Signup and view all the answers

Which legal system uses precedents to assist in interpreting statutory law but does not require courts to follow earlier decisions?

Civil law countries Signup and view all the answers

What is the primary role of substantive law as mentioned in the text?

Establishes rights and obligations governing individuals and organizations Signup and view all the answers

What is a common criticism of legal writings according to the text?

They are badly organized, confusing, and repetitive Signup and view all the answers

What is an essential factor for achieving efficiency in legal compliance?

Enforcement of legal rules Signup and view all the answers

In what context do judges in Spain intervene the most according to the text?

Civil law cases Signup and view all the answers

What is reduced through legal interpretation according to the text?

Ambiguity Signup and view all the answers

Which factor contributes to lowering the effective negotiating capacity according to the text?

Standardized contracts Signup and view all the answers

What does the level of enforcement imply according to the text?

High level of compliance Signup and view all the answers