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Guarantee
A formal promise or assurance, typically in writing, that certain conditions will be fulfilled or a product will meet a specified standard of quality.
Indemnity
A legal agreement to compensate for any losses or damages incurred by another party.
Statute of Frauds
A legal principle that certain types of contracts must be in writing and signed by the party to be charged, in order to be enforceable.
Legal Person
An entity, such as a corporation, recognized by law as having rights and obligations.
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