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A culture that is low context, individualistic, has a low power distance, and uses monochronic time is
Rescission
The act of revoking, canceling, or repealing a contract or agreement, returning all parties to their original positions prior to the agreement.
Misrepresentation
Misrepresentation involves giving incorrect information by one individual to another, persuading the latter to enter into a contract based on that faulty information, unintentionally leading to misconceptions during agreement formulation.
Insurance Policy
A contract between an insurer and a policyholder specifying the terms for the payment of claims in the event of a loss.
Contracted
Contracted generally means to have entered into a formal agreement with specific terms and conditions.
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