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Answer :
Statement (d) does not describe an ethical rule of governing contracts.
Ethical rules of governing contracts typically focus on principles such as not engaging in immoral acts, avoiding intentional misrepresentation, and ensuring both parties have full knowledge of the agreement.
However, the statement that contracts must bind individuals or agents only and do not apply to governments does not align with the general ethical rules governing contracts.
Statement (a) reflects an ethical rule by emphasizing that a contract must not bind the parties to engage in immoral acts. This rule aligns with the principle that contracts should not be used to facilitate or enforce unethical behavior.
Statement (b) is another ethical rule stating that neither party to a contract must intentionally misrepresent the facts. This rule promotes honesty and integrity in contractual relationships, discouraging deceptive practices that undermine the trust between parties.
Statement (c) reflects the ethical rule that both parties to a contract must have full knowledge of the agreement. This rule ensures that contracts are entered into willingly and with a clear understanding of the terms, preventing one party from taking advantage of the other's lack of information.
However, statement (d) does not represent an ethical rule of governing contracts. While contracts typically involve individuals or agents as parties, they can also involve governments or other legal entities. Contracts between governments and private entities are common in various contexts, such as public procurement or public-private partnerships. Therefore, the statement's assertion that contracts do not apply to governments is inaccurate and does not reflect an ethical rule.
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