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Materiality
A principle in accounting and law that concerns the significance of an event, fact, or item in the context of decision-making or reporting.
Forfeiture
The loss or giving up of something as a penalty for wrongdoing or breach of contract.
Reasonable Expectations
The anticipation or belief regarding a particular outcome or behavior under ordinary circumstances by a reasonable person.
Condition Subsequent
A future event or circumstance that, if it occurs, may terminate a party's obligation under a contract.
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