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Long-term liabilities can be structured either with an equal principal payment or with an equal total payment.
Final Court
The ultimate judicial tribunal in a legal system where the final interpretation of law or final appeal is decided.
Municipal Court
A local court with limited jurisdiction over violations of city or municipal ordinances, minor criminal offenses, and civil matters within its geographical area.
Probate Court
A specialized court that handles matters related to wills, estates, guardianships, and the distribution of deceased persons' assets.
Small Claims Court
A special court designed to resolve disputes involving relatively small amounts of money, with simplified procedures and without the need for attorneys.
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