Which statement below is correct about the application of default rules in a business contract?
A) The courts will only apply default rules if both parties agree to them after the fact.
B) The courts will apply default rules unless the parties explicitly override it with a different rule.
C) The courts will not apply default rules unless they are forced to do so by a jury trial.
D) The courts prefer to declare an agreement void rather than apply default rules.

Question

Quizplus · Accepted Answer

Default rules are provisions that apply to a contract unless the parties involved explicitly agree to an alternative arrangement. These rules are designed to fill in gaps in contracts where the parties have not specified their own terms.

Which Statement Below Is Correct About the Application of Default