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The price of a good increases relative to other goods.Which one of the following statements must be true? The resulting
Contractual Obligation
A legal duty that arises out of a contract, requiring a party to either perform or refrain from performing certain acts.
Exculpatory Agreement
A clause that says one of the parties to a contract, generally the one who wrote the contract, is not liable for any economic loss or physical injury, even if that party caused the loss or injury.
Exculpatory Clause
A clause in a contract that releases a party from liability for his or her wrongful acts. These clauses are not favored by law.
Geographical Area
Refers to a specific physical region or location defined by natural or artificial borders.
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