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If the demand for an asset increases, its price will
Agency
In legal terms, an agency refers to a relationship in which one party, known as the agent, is authorized to act on behalf of another party, known as the principal, in business transactions with third parties.
Privity Rule
A doctrine stating that only parties to a contract can sue or be sued on the contract's terms, restricting the rights of external parties.
Novation
A legal process by which an existing contract is replaced by a new contract, with the consent of all parties involved, often involving a change of parties or terms.
Statutory Assignment
The transfer of rights or interests in a particular matter as established by statute or legislative action.
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