Examlex
Explain the differences between and similarities of the categories used to classify contracts by their enforceability: valid, unenforceable, voidable, and void.
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan remaining unpaid.
Lender
An individual, a financial institution, or an entity that provides funds to another with the expectation that the funds will be repaid with interest.
Economic Resource
An asset, commodity, or service that can be used to produce goods and services and thereby contribute to an economy's output.
Free Resource
A resource that is abundantly available and not limited by price mechanisms or ownership, making it freely accessible to all.
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