>> Business Law and Ethics
Describe the literal approach to contractualinterpretation and explain how it may cause problems. Provide an example toillustrate your point.
How might other approaches overcome this difficulty?Describe and explain them in the business context.
Reliance damages cannot be used to escape theconsequences of a bad bargain."
Explain the meaning of that statement in the context ofbusiness contracts. Explain the justification for that legal principle. Providean example that illustrates your explanations.