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Common Law
A legal system based on custom, court rulings, and past legal precedents rather than on written laws.
UCC
The Uniform Commercial Code consists of legal standards and rules that regulate commercial or business agreements and transactions.
Govern
The act of conducting policy, actions, and affairs of a state, organization, or people, often through established laws and authorities.
Liquidated Damages
A predetermined amount of money that parties to a contract agree upon as compensation in case of a breach of the contract.
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