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What is the Fisher Effect?
Principal Debtor
The main individual or entity responsible for repaying a debt or obligation.
Creditor
An individual, organization, or entity that lends money or extends credit to another party, expecting repayment.
Verbal Agreement
An agreement made through spoken words and not formally recorded in writing, yet is legally binding.
Specific Performance
A legal remedy where a court requires a party to fulfill their obligations under a contract, rather than providing a financial compensation.
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