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Bilateral Contract
An agreement between two parties where each promises to perform an act in exchange for the other party's act.
Unilateral Contract
A contract in which only one party makes a promise or obligation to perform a specific action in exchange for a performance rather than a promise from the other party.
Uniform Commercial Code
A comprehensive set of laws governing commercial transactions in the United States.
Common Law
A body of law derived from judicial decisions of courts and similar tribunals, rather than from statutes or constitutions.
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