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Unilateral Contract
An agreement where only one party makes a promise or assumes an obligation to perform if a specified condition is met by another party.
Act
A written ordinance of a legislative body or an action done with a specific intention or outcome in mind.
Legal Value
Refers to something of worth that is recognized by law, often in the context of contracts where it pertains to the exchange of goods, services, or promises that are enforceable.
Preexisting Duty
An obligation that one party already owes to another under the law or an existing contract, which cannot serve as new consideration for a new contract.
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