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Table 3-2
-From the data given in Table 3-2, the opportunity cost of increased cotton in moving from A to B is
Implied-In-Fact Contract
A contract formed by the actions or conduct of the parties involved, rather than written or spoken words.
Express
Clearly and explicitly stated or communicated, leaving no room for doubt or ambiguity.
Acts of Parties
Actions or conduct by individuals that have legal significance or implications.
Lex Mercatoria
A body of commercial law used by merchants throughout Europe during the medieval period, developed based on common trade practices.
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