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Why is the real GDP a better measure of economic activity than nominal GDP?
Contract Law
The branch of law dealing with the formation, performance, and enforcement of agreements between parties.
Consideration
Something of value exchanged between parties in a contract, making the agreement legal and binding.
Bargained-For Exchange
An element of contracts where both parties agree to provide something of value to the other.
Negotiation of Contracts
The process of discussing terms and details between parties in order to reach a mutual agreement before finalizing a contract.
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