Fill in the correct labels for the following figure using the word bank below.
-C _________
Definitions:
Consideration
An element of a valid contract; the price one is willing to pay for the promise set out in the offer.
Guarantee
A formal assurance or promise, often related to the quality or durability of a product, or the fulfillment of a contract.
Guaranteed
Promised with certainty or underwritten with a promise of payment or performance.
Defaulted
Refers to the failure to meet a legal obligation or agreement, especially failing to make required payments on a loan.
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