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Doctrine of Promissory Estoppel
A legal principle preventing a party from withdrawing a promise made when the other party has reasonably relied on that promise to their detriment.
Preexisting Duty Rule
A legal principle stating that an existing obligation in a contract cannot serve as consideration for a new contract or for modifying the existing contract.
Unforeseen Circumstances
Events or situations that could not have been predicted or expected and may affect the ability to fulfill obligations.
Liquidated Debt
A debt with a known, fixed amount that is not disputed by either party.
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