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Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.
Personal Liability
The legal responsibility of an individual to satisfy debts or obligations from their personal assets when they cannot be met through insurance or other protections.
Corporate Ship
An unofficial term possibly referring to a company or a corporation operating in a global or international market, navigating through business waters.
Duty to Disclose
A legal obligation requiring a party to reveal important information to another, often seen in contracts and dealings.
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