Examlex
Write the following as an algebraic expression in u, u > 0.
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Indemnity
A contractual obligation of one party to compensate the loss occurred to the other party due to the acts of the indemnitor or any other party.
Insurance Contracts
Legal agreements between an insurer and the insured, in which the insurer agrees to compensate the insured for loss of property, life, or health, under specified conditions.
Wagering
The act of betting or gambling money on an outcome that is largely subject to chance.
Profit
The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
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