Examlex
Which factors are considered by a court in determining whether a party is an intended or incidental beneficiary?
Progressive Taxation
A tax system in which the tax rate increases as the taxable amount increases, often designed to distribute the tax burden more evenly across various income levels.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in GDP, real income, employment, and other indicators.
Economy Shrinks
A period during which an economy experiences negative growth, leading to a reduction in production, employment, and other economic activities.
Medicare
A federal health insurance program in the United States for people aged 65 and over, as well as for some younger individuals with disabilities.
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