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What is the role of value judgments in economic analysis?
Unforeseen Difficulties
Unexpected challenges or obstacles that were not anticipated, making a task or goal harder to achieve.
Preexisting Duty
An obligation that a party is already legally bound to perform, which cannot serve as consideration for a new contract.
Foreseen Difficulty
An anticipated challenge or problem that can be predicted based on current knowledge or trends.
Preexisting Duty
Preexisting duty refers to an obligation that a party is already legally required to perform, which cannot be used as consideration for a new contract.
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