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Provide an overview of Hull's model.
Contract
A legally binding agreement between two or more parties, typically involving the exchange of goods, services, money, or promises.
Duty
A moral or legal obligation; a responsibility that one is required to perform in a social, legal, or professional context.
Performance
The execution of duties or actions stipulated by a contract.
Third Party
An entity involved in a transaction or legal situation who is neither the first (often the buyer or claimant) nor the second (often the seller or defendant) principal party.
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