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Hannah is the owner of a party store.Last year,her total revenue was $145,000,her rent was $12,000,her labor costs were $65,000,and her overhead expenses were $15,000.If she could earn $53,000 working for another party store nearby,we know that her economic profit was
Oral Agreement
An agreement or contract that is made through spoken communication between parties, rather than in written form, but is still legally binding.
Casino Credit
A line of credit extended by a casino to a patron, allowing them to gamble without using cash.
Bad Checks
Checks that cannot be processed because the account on which they were drawn lacks sufficient funds, leading to legal and financial consequences for the issuer.
Oral Negotiable Instrument
A verbal agreement that is intended to have the same enforceability as a written negotiable instrument, though legally this is often not recognized.
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