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A good experiences a shift of the demand curve so that it is now flatter than before.Suppose that the market price and quantity demanded does not change.This means that the good has now become inelastic.
English Parliament
The supreme legislative body in the United Kingdom, made up of the House of Commons, the House of Lords, and the Sovereign.
Act for the Prevention of Frauds and Perjuries
Historical legislation which aimed at reducing fraud and perjury in legal agreements, emphasizing the importance of written contracts.
Promissory Estoppel
The legal enforcement of an otherwise unenforceable contract due to a party’s detrimental reliance on the contract.
Negligent Misrepresentation
A false statement of material fact made by a party who thinks it is true but who would have known the truth about the fact had he or she used reasonable care to discover or reveal it.
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