Examlex
The concept of external validity is central to Chapter 4. This is true because:
Consideration
An essential element in contract law, referring to the exchange of something of value between parties as part of an agreement.
Simple Contract
A contract that is not formalized in writing but is made orally or by conduct, requiring only mutual agreement and consideration to be valid.
Security Interest
A legal claim or lien on collateral that secures the payment or performance of an obligation.
Secured Transactions
Financial transactions in which the borrower pledges collateral to ensure repayment of a loan.
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