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Why do some people predict that in-flight movies on airplanes might soon be a thing of the past?
Formal Commitment
Refers to a binding agreement or pledge to engage in or refrain from a specified action.
Implied Contract
A contract that arises not from words of agreement but from the conduct of the parties.
Express Contract
A contract in which all the terms are clearly set forth in either written or spoken words.
Bilateral Contract
An agreement in which both parties make promises to perform certain acts or refrain from performing certain acts.
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