Examlex
What is a simplified representation or abstraction of reality?
Valid Contract
A legally binding agreement between parties, fulfilling all necessary legal conditions and requirements.
Mutual Assent
An agreement between parties that intend to form a contract, evidenced by an offer and acceptance.
Consideration
A value that is promised, given, or received by a party in a contract, making the agreement legally enforceable.
Justifiable Reliance
The reasonable trust placed by one party in the representations of another, particularly in situations leading to contracts or agreements.
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