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Promissory Estoppel
A legal principle that prevents a person from going back on a promise even when a legal contract does not exist.
Unilateral Contract
An agreement in which one party makes a promise in exchange for an act performed by another party.
Consideration
In contract law, a crucial element that refers to something of value promised to another when making a contract.
Liquidated Debt
Debt for which there is no dispute between the parties about the fact that money is owed and the amount of money owed.
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