Examlex
The term used to describe a situation in which markets do not allocate resources efficiently is
Prime Vacant Land
Land in a highly coveted location that is undeveloped and offers great potential for investment, construction, or development due to its desirable characteristics.
Enforceable Contract
A legal agreement between parties that is valid under the law and therefore can be upheld in a court of law.
Legal Consideration
Legal consideration involves something of value that is exchanged between parties in a contract, making the agreement legally enforceable.
Lease Option
A contract that permits a party to lease real property while holding an option to purchase that property.
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