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Binding Contract
An agreement between parties that is legally enforceable in a court of law.
Promissory Estoppel
Promissory estoppel is a legal doctrine that can enforce a promise in the absence of a formal contract when a party has relied on that promise to their detriment.
Consideration
Something of value that is exchanged between parties in a contract, making the agreement legally binding.
Preexisting Contract
A legal agreement that was created and became effective before the current discussion or issue.
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