Examlex
If we observe that when the price of chocolate increases by 10%, quantity demanded falls by 5%, then the demand for chocolate is price inelastic.
Express Mention
Specifically and clearly stated or detailed, often used to describe something that is explicitly referred to in a document or conversation.
UCC
Refers to the Uniform Commercial Code, a thorough collection of legislations that regulate all commercial dealings across the United States.
Consideration
The value exchanged between parties in a contract, which can be in the form of money, services, or goods, and is required for the contract to be legally binding.
Modification
A change or alteration to the terms of an existing agreement, requiring the consent of all parties involved.
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