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By the end of the 1980s, communism began to collapse in the Soviet Union and its satellite nations.
Oral Contract
An agreement made through spoken words and not written, which can be legally binding.
Guaranty
A legal commitment by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults.
Enforceable
A legal term referring to a contract or agreement that can be upheld and compelled by law.
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