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Negotiable
Capable of being transferred or modified through discussion or upon reaching an agreement.
Oral Promise
An oral promise is a commitment or assurance given verbally rather than in written form, which may or may not be legally enforceable depending on the context.
Negotiable
A characteristic of a financial instrument (like a check or bill of lading) that allows it to be transferred from one party to another as a form of payment or investment.
Contract Formation
The process by which parties agree to terms that are legally binding and enforceable.
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