One purpose of contracts is to reduce transactions costs associated with circumstances that develop during the fulfillment of the agreement.

Name: One purpose of contracts is to reduce transactions costs associated with circumstances that develop during the fulfillment of the agreement.
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Quizplus · Accepted Answer

Contracts help establish clear expectations and responsibilities, and provide remedies for breach or unforeseen circumstances, which can help minimize disputes and associated costs.

One Purpose of Contracts Is to Reduce Transactions Costs Associated