Examlex
Define a strategic alliance and identify and differentiate between three broad categories of strategic alliances.
Consideration
Consideration is a fundamental principle in contract law, referring to something of value exchanged between parties as part of an agreement.
Legal Value
Consideration or benefit recognized by law as sufficient to form a valid contract or enforceable obligation.
Gross Inadequacy
An extreme lack of sufficiency or competence in performance or provision, often referenced in legal contexts concerning contractual or fiduciary obligations.
Bilateral Contract
A type of contract that involves two parties where each party makes a promise to the other.
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