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In a profit center, the department manager has responsibility for and the authority to make decisions that affect
Implied-in-Fact Condition
A legal term for conditions in a contract that are not stated but are understood as a necessary part of the agreement based on the circumstances and actions of the parties involved.
Condition Subsequent
A legal term that describes a condition in a contract that, if fulfilled, terminates the obligation or contract itself.
Debt Discharged
The condition in which a debt is legally eliminated, and the debtor is no longer financially obligated to pay it back.
Substituted Agreement
A legal principle where the parties involved agree to replace a previously made agreement or contract with a new one.
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