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Implied Warranty
A legal term referring to a warranty that is not expressly stated but is assumed by law to exist in a sale.
Release
A legal agreement where one party forfeits the right to pursue a claim or lawsuit against another party.
Damages
A monetary compensation awarded by a court to a person who has suffered a loss or injury.
Incidental Beneficiary
A person or entity that indirectly gains a benefit from a contract to which they are not a party, without the contract specifically intending such benefit.
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