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Within the IS-LM curve model,a decline in expectations would
Contract
A legally binding commitment between parties to perform or refrain from performing specified acts.
Promissory Estoppel
A legal principle that prohibits a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.
Statute of Frauds
A legal concept that requires certain types of contracts to be in writing and signed by the party to be charged, in order to be legally enforceable.
Collateral Promise
A collateral promise is a secondary agreement that one party will assume responsibility for another's debt or obligation if that other party fails to fulfill it.
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