Examlex
John and Angel are having an argument over future inflation rates.John thinks the rate will be 3%,because inflation has not exceeded that rate in more than a decade.Angel points out that the chairman of the Federal Reserve testified before Congress last week that he thinks the unemployment rate is too far above its natural rate and thus that the economy should be stimulated.John is using _____ expectations and Angel is relying on _____ expectations.
Consideration
Something of value exchanged between parties in a contract, required for the agreement to be legally binding.
Liability Insurance
A form of insurance coverage that protects an individual or business from the risk associated with being found legally liable for various kinds of wrongs such as accidents or injuries.
Implied Warranty
A legal term referring to a warranty that is not expressly stated but is assumed by law to exist in a sale.
Release
A legal agreement where one party forfeits the right to pursue a claim or lawsuit against another party.
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