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Allocation Of Risk
The process of defining and assigning the financial or operational responsibilities associated with potential risks in contractual agreements.
Parties
Individuals, groups, or entities that enter into a legal agreement or are involved in a legal proceeding.
Agreement
A mutual understanding or arrangement between two or more parties about their relative rights and responsibilities.
Good Faith Purchaser
An individual who buys property without knowledge of any existing claims or defects against it.
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