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Explain the process of socialization and human development and provide an example.
Monetary Value
The specific amount of money something is worth, often determined by market conditions, demand, and utility.
Promissory Estoppel
A legal doctrine preventing an individual from reneging on a promise when another person has reasonably relied on that promise to their detriment.
Gratuitous Promise
A commitment or pledge that one person makes to another without demanding or expecting anything in return, often not legally binding.
Legal Consideration
An essential element of a contract, referring to something of value promised to another when making an agreement.
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