Examlex
The aging method is a balance sheet approach of estimating uncollectible accounts.
Offer
A proposal presented by one party to another with the intention to create a legally binding agreement upon acceptance.
Escrow Account
An escrow account is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction, ensuring fair and secure dealings.
Objective Theory
A legal principle stating that the terms of a contract are interpreted based on external expressions (actions, words) rather than internal intentions.
Offeror's Words
The specific language or phrasing used by the person making an offer in a contract scenario, which can impact the terms and acceptance of the contract.
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