Examlex
State a situation where state law is preempted by federal regulation.
Binding
A legal or contractual agreement that is enforceable in a court of law.
Lapsed
Refers to a policy or agreement that becomes invalid because it was not renewed or maintained as required.
Verbal Offer
A proposal made orally to enter into a contract or agreement, which can be legally binding if it meets certain criteria.
Invitation to Do Business
An expression of interest or a solicitation that is not legally binding, essentially a preparatory step to entering negotiations.
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