Examlex
If a current account deficit increases and investment levels remain the same, national saving must increase.
Traditional Contract Law
The body of law governing agreements between parties, requiring elements such as offer, acceptance, consideration, and mutual consent for enforceability.
Counteroffer
A proposal made in response to an offer, which effectively rejects the original offer and proposes new terms for an agreement.
Gap-Filling Presumptions
Legal principles or standards applied in contract law to address situations where the parties' agreement does not specify certain terms or conditions.
Mirror Image Rule
A principle in contract law stating that an offer must be accepted exactly without modifications for a valid contract to be formed.
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