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Binding Contract
A legally enforceable agreement between two or more parties, where each is obligated to fulfill certain terms or face legal consequences.
Negotiations
The process of discussion aimed at reaching an agreement or compromise between two or more parties.
Offeree's Silence
A legal concept where the silence of the party to whom an offer is made does not generally constitute acceptance of the offer.
Acceptance
The act of agreeing to the terms of an offer, thus completing the process of making a contract binding.
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