Contract Enforcement Quotes

Government has three primary functions. It should provide for military defense of the nation. It should enforce contracts between individuals. It should protect citizens from crimes against themselves or their property.

The only proper functions of a government are: the police, to protect you from criminals; the army, to protect you from foreign invaders; and the courts, to protect your property and contracts from breach or fraud by others, and to settle disputes by rational rules, according to objective law.

You can enforce a contract in China, but not through the legal route. You have to put pressure on in various ways.

Verbal contracts are about as useful as a fart on a treadmill.

Government should enforce rule of law. It should enforce contracts, it should protect people bodily from being attacked by criminals. And when the government does those things, it is facilitating liberty. When it goes beyond those things, it becomes destructive to both human happiness and human liberty.

It doesn't do us any good to get paper agreements that collapse.

The quickest and surest way to production, prosperity, and economic growth is through private enterprise. The best way for governments to encourage private enterprise is to establish justice, to enforce contracts, to insure domestic peace and tranquility, to protect private property, and to secure the blessings of liberty including economic liberty - which means to stop putting obstacles in the way of private enterprise.

Our main conclusions about the state are that a minimal state, limited, to the narrow functions of protection against force, theft, fraud, enforcement of contracts, and so on, is justified, but any more extensive state will violate persons' rights not to be forced to do certain things, and is unjustified; and that the minimal state is inspiring as well as right.

Pacta illegalia non sevanda sunt. Illegal agreements are not to be enforced.

We will continue to pursue anybody who violates our franchise covenants, trade agreements, or anything, for that matter, that is ours.

Roads, better harnesses for horses, time-keeping devices, financial instruments like a currency that was recognized everywhere in the kingdom, enforceable contracts - all of this made commerce more appealing than plunder.

Free markets and democracy are far from an overnight solution to poverty- they require among many other things the bottom-up evolution of the rules of the game, including contract enforcement and fair political competition.

Without properly functioning civil courts, there is no guarantee that innovative entrepreneurs can claim the rewards of their ideas.

A repeated problem with the Obama administration has been the lack of understanding that contracts only matter if they are enforceable - and if there is a party willing to do the enforcement.

There are markets extending from Mali, Indonesia, way outside the purview of any one government which operated under civil laws, so contracts weren't, except on trust. So they have this free market ideology the moment they have markets operating outside the purview of the states, as prior to that markets had really mainly existed as a side effect of military operations.

Those business successes who do not think that the Government had a critical part in their success should imagine the cessation of all government services. They could not clear a check. There would be no courts to enforce their contracts and protect their intellectual property. No one would protect their assets at home or abroad or on the high seas. Most of the American R&D would stop producing new innovations for their use. They would have no economic statistics with which to plan. Their workforce will not have the education and training provided by government schools or government aid to private schools and students. No government; No Business!

You have to have a government to provide you with legal order, with stability, enforcement of property rights, enforcement of contracts, definition of rules and regulations - the rules of the game, so to speak - and to provide certain shared goods and services, public services. Several people have tried to estimate this and they come out with figures like government spending at 15% of GDP. In the modern world it has gone to 40% or above. So we are way beyond the optimal, and that is easier to say than what the optimum is.

It is not worth the paper it is written on unless it is backed by the kind of force that will make the other side consider the penalties too heavy to break the agreement.

We can code wills, escrows, trusts, notaries, revokable charge backs, proof of contracts, intellectual property enforcement. What Wall Street does can be done in code by Bitcoin.

Without law, without the social stability it provides, there can't be contracts and deals, there can't be chamber meetings, there can't be good jobs and safe families.

The constitution of the United States declares that "no State shall pass any law impairing the obligation of contracts."