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James Watt's steam engine and James Hargreave's spinning jenny helped make it possible to produce more output and to:
Statute of Frauds
A legal principle that requires certain types of contracts to be executed in writing and signed by all parties to be enforceable.
Witnesses
Individuals who observe an event, such as the signing of a document, and can attest to its occurrence.
Beneficiary
The person for whose benefit an insurance policy, trust, will, or contract is established. In the case of a contract, the beneficiary is called a third-party beneficiary.
Parol Evidence Rule
A legal rule that prevents the introduction of outside evidence to modify, vary, or contradict the terms of a written contract.
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