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Basic principles of the bitewing technique include the:
Auction With Reserve
An auction where the seller retains the right to accept or reject the highest bid within a specific time frame, due to a minimum sale price not being met.
Mutual Assent
An agreement between parties that is reached when all involved parties have a matching understanding and intention to be bound by the terms.
Agreement Standard
The established criteria or clauses that form the basis of a contractual agreement between parties.
Acceptance
In contract law, it is the act of agreeing to the terms of an offer, thus creating a binding contract.
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