Final answer:
The assertion that legal rights are freely exercisable, enforceable, with remedies for violations is true. Property and contractual rights are essential for enforcing agreements and ensuring economic growth. The legal system provides recourse for noncompliance, ensuring the fulfilment of contracts.
Step-by-step explanation:
The statement that legal rights can be freely exercised, enforceable, and include remedies for violations is true. These rights are fundamental in the legal system to ensure that agreements and contractual obligations are respected and to promote economic growth. When individuals and firms own property, they have property rights, which allow them to use their property as they see fit. Contractual rights are based on these property rights and enable parties to enter into agreements regarding the use of their property with the assurance that there is recourse through the legal system in case of noncompliance.
For example, in an employment agreement, such as the contract between a patient and a surgeon, the surgeon expects to be paid for their services. Failure to pay would be considered a theft of the property, here, the property is the service provided by the surgeon. Hence, in a society that enforces property rights and contractual rights, the surgeon can take legal action to obtain payment, ensuring the fulfilment of the contract. Without this enforcement, the risk of non-payment would deter people from entering into agreements, which in turn would hinder business transactions and slow down economic growth.