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Suretyship Provision
A clause in a contract that involves a third party (surety) who agrees to fulfill the obligations of the debtor if the debtor fails to do so.
Statute of Frauds
A legal principle that requires certain types of contracts, such as those involving real estate or lasting over a year, to be in writing to be enforceable.
Separately Negotiated
Terms, conditions, or agreements that have been individually discussed and agreed upon by the parties involved, rather than applied universally or as part of a standard procedure.
Pre-Printed Terms
Standardized, boilerplate language in a contract, typically not negotiated between parties and often found in form contracts.
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