Examlex
Which of the following are true? choose two)
Arbitration Clause
A provision in a contract that requires the parties to resolve disputes through arbitration rather than through litigation in court.
Preexisting Duty
An obligation that a party is already legally bound to, which cannot serve as consideration for a new contract.
Forbearance to Sue
An agreement or arrangement where a party chooses not to pursue legal action in exchange for some form of compensation or under specific conditions.
Legal Claim
A formal assertion by a party seeking judicial relief due to another party's action or failure to act in accordance with the law.
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