vernment 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 XXXI.

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 circumstances. 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 t