Examlex
What are the three broad categories of exchange rate systems?
Forfeiting Right
The act of giving up or losing a right as a consequence of failing to comply with specific conditions or regulations.
Consideration
In contract law, it refers to something of value promised, given, or received that induces a party to enter into a contract.
Promissory Estoppel
A legal principle preventing a party from withdrawing a promise if the other party has relied on that promise to their detriment.
Definite Promise
A definite promise is a clear and unambiguous commitment or pledge made by one party to another, often forming the basis of a contractual obligation.
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