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Offer and Acceptance
Fundamental principles in contract law where an offer proposal is made by one party and accepted by another, resulting in a legally binding agreement.
Agreement
A mutual understanding or arrangement between two or more parties outlining each party's rights and responsibilities.
Arbitration Ruling
An Arbitration Ruling is a binding decision made by an arbitrator or arbitration panel in a dispute resolution process outside of court.
Binding Arbitration Clause
A contract provision mandating that all disputes arising under the contract must be settled by arbitration.
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