1. The common law governs all contracts except when it has been modified or replaced by statutory law or administrative agency regulations. True or False

True

Explanation:

In the United States, two primary sources of law govern contracts:

i. the common law

ii. the Uniform Commercial Code.

The common law governs all contracts except when it has been modified or replaced by statutory law such as the Uniform Commercial Code or administrative agency regulations.

Contracts relating services, real estate, insurance, businesses are all governed by the common law.

i think it can have both positive and negative effects on businesses.

for example:

lets say you own a small business and taxes go up 4% that means it is going to cost your business more money to buy product to sell. but at the same time you make more money from the tax rise.

that is my theory.

more people will not obey the law or vice vice versa

explanation: the answer really speaks for itself if the number of prisoners are going up then that means that more people will not obey the law and if less people are going to prison then that means that more people are obeying the law.