Part 39 (1/2)

Every Government Aims to be Aristocratic.--That is, each government in theory seeks to have those rule who are best fitted to manage public affairs. This is the thought, for instance, in our requiring certain qualifications in voters and office-holders.

Our Own Government.--We fondly believe that our own government combines to a high degree the excellencies of all the forms.

Our hope for stability lies chiefly in the fact that our corner stone is eternal justice, the equality of all men before the law. Even the severe shock of civil war has been endured, and our system is more strongly intrenched in the confidence of the world than ever before.

We believe in the potency of good blood and good training. But the worth of each individual must be _shown_, it will not be taken for granted. We will neither lift him up because he is ”his father's son,” nor cast him down because his father was unworthy.

Situated as we are, with no powerful rivals near us, with the ocean between us and the countries of Europe, the common defense requires no great standing army to eat up our substance and to menace our liberties.

Living in the north temperate zone, the belt of highest civilization, in a country capable of producing almost everything desirable, there is every reason to believe that, if we are true to ourselves and our opportunities, we may long enjoy prosperity and peace.

_Debate_.

Resolved, That universal suffrage is dangerous to the well being of society.

PART V.

COMMERCIAL LAW.

RESPONSIBILITY.

_Ignorance of the law is no excuse._

At first sight this would seem unjust, since no one but a lawyer can be expected to have much legal knowledge. But as law is simply common sense applied, the exercise of ordinary judgment is usually sufficient to enable a person to act safely.

To present a few of the more common principles of commercial law, is the purpose of the following pages.

CHAPTER x.x.xI.

CONTRACTS.

Definitions.--A contract is an agreement between two or more parties, containing on the one hand an _offer_ and on the other an _acceptance_.

Contracts are _express_ or _implied_. An express contract is one whose terms are definitely stated in words; an implied contract is one whose terms are understood from the circ.u.mstances. A written contract is express; an oral contract may be express or implied.

Fundamental Principles.--Every one able to contract is free to enter into any agreement not forbidden by law. Every such person is bound to fulfill every legal contract that he makes.

Essential to a Contract.--To be binding, however:

_1. A contract must be to do a lawful act._

Most contracts are permitted by law. But a contract the carrying out of which is recognized as subversive of justice, morality, or the general welfare, is illegal, and therefore void.

_2. The thing contracted to be done must be possible in its nature._

That a person finds it impossible _under the circ.u.mstances_ to live up to his contract should not and does not release him from responsibility.