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What is a fallacy? List and describe three types of common fallacies.
Restrictive Covenants
Clauses in contracts that restrict or limit actions of the parties involved, often used in real estate and employment agreements.
Lead Entrepreneur
The primary individual responsible for starting a new business or venture, often driving the vision and strategy forward.
Time-Sales Financing
A financing method where payments are made in installments over a predetermined time period.
Prepayment Penalties
Fees charged to borrowers for paying off a loan early, as compensation for the lender's lost interest income.
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