Define the Following Terms

question 45

Short Answer

Define the following terms
-matrix question

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Definitions:

Disaffirm

The legal act of denying, rejecting, or invalidating a contract or agreement.

Fair Market Value

The price at which an asset would sell in a competitive auction setting, reflecting the value agreed upon by a willing buyer and seller.

Restatement of Contracts

A collection of legal principles regarding contracts, intended to clarify and synthesize current contractual laws in the United States.