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Commercial Nature
Pertaining to or characterized by activities aimed at the exchange or buying and selling of goods and services.
Contracting Parties
The entities (individuals or companies) that enter into a contractual agreement, each undertaking specific obligations outlined within.
Courts Presume
The principle that courts assume certain facts to be true until proven otherwise, under specific legal doctrines or in the absence of evidence to the contrary.
Insurance Contract
An agreement between an insurer and a policyholder in which the insurer promises to pay for specific losses or damages in exchange for premiums paid by the policyholder.
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