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Express Promise
A clear and specific commitment stated by one party to another, often forming the basis of an express contract.
Consideration
In contract law, something of value promised, given, or received that motivates parties to enter into an agreement.
Time Draft
A written order to pay a specified amount of money at a future date.
Debtor-Creditor Relationship
A financial relationship where one party (the debtor) owes a debt to another party (the creditor).
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