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Uniform Commercial Code
A comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing the law among the states.
Sale of Goods
A transaction between a buyer and a seller involving the transfer of ownership of goods from one party to another for a price.
Secondary Obligation
A duty or liability that is dependent on the occurrence or non-occurrence of certain conditions or the failure to perform a primary obligation.
Promissory Estoppel
A legal principle that prevents a party from withdrawing a promise if the other party has significantly relied on that promise to their detriment, even if there is no formal contract.
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