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Binding Contract
A legal agreement between parties that is enforceable by law, with specified obligations that must be fulfilled by all involved parties.
Acceptance by Silence
A legal principle where silence or inaction can be interpreted as acceptance of an offer under certain circumstances, typically when past behavior has established such a pattern.
Option Contract
A contract granting one the right, but not the obligation, to buy or sell an asset at a predetermined price within a specific timeframe.
Implied-in-Fact Contract
An implied-in-fact contract is an agreement that is not expressed in words but is inferred from the actions or conduct of the parties involved.
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