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Contract Theory
An area of study within economics and law that analyzes how contractual agreements are formed, structured, and enforced.
Defective Condition
A state of being flawed or imperfect, often referring to a product or system that does not meet expected standards or functions improperly.
Unreasonably Dangerous
A term describing products or activities that pose a significant risk of harm to users or the public beyond what would be considered acceptable or normal.
Strict Liability
A legal doctrine holding an individual or entity liable for damages without the need to prove negligence or fault.
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