Examlex
Your roommate asks you which section of political science you are taking next semester.You have just registered,and you confidently turn to tell her the section.You are astonished to realize that you cannot remember.Your memory lapse is an example of:
Essential Terms
Critical conditions or clauses within a contract that define the agreement's fundamental obligations.
Online Auction
A digital marketplace where items are sold to the highest bidder through a timed bidding process.
Effective Offer
A proposal that meets all legal requirements and is presented in a manner that a reasonable person would understand its terms, triggering a potential contract.
Good Faith
The honest intention to act without taking an unfair advantage over another party in a transaction.
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