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Not all societies need an economic system.
Account Party
Account Party is a key term in banking and finance, denoting the party that requests and is obligated to reimburse the issuer of a letter of credit upon completion of terms.
Express Warranty
A seller’s or lessor’s oral or written promise, ancillary to an underlying sales or lease agreement, as to the quality, description, or performance of the goods being sold or leased.
Reasonable Buyer
A hypothetical person who exercises average care, judgment, and information in their purchasing decisions, often referenced in legal contexts.
Seller's Representation
Statements made by a seller regarding the quality, condition, or legal status of the goods or property being sold.
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