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In what way did the King I approach differ from the Cadbury approach?
Privity of Contract
The legal principle that a contract confers rights and imposes obligations only on the parties to the contract, barring any third party from enforcing or interfering with the agreement.
Policy Proceeds
The amount paid out on an insurance policy, typically upon the occurrence of the event insured against.
Uniform Commercial Code
A comprehensive set of laws governing commercial transactions in the United States, designed to harmonize legal standards across states.
Substantial Interest
A significant stake or investment in a matter or entity, indicating a strong concern or potential influence on decisions.
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