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Restatement Test
A doctrine used to reinterpret or clarify existing laws or legal principles, often through a secondary authoritative source that restates the law.
Privity Of Contract
The principle that contracts are binding only on the parties signing the agreement, not on any third parties.
Loan Default
The failure to meet the legal obligations or conditions of a loan, such as not making scheduled payments on time.
Sarbanes-Oxley Act
A U.S. federal law enacted to protect investors from the possibility of fraudulent accounting activities by corporations.
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