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Economists who attempt to explain the increasing earnings gap between skilled and unskilled workers in the United States offer two main hypotheses. Both hypotheses
Consideration
Something of value exchanged between parties as part of a contract, which is required for the contract to be legally binding.
Holder
Someone who legally possesses a negotiable instrument, such as a check or bond, and has the right to enforce it.
Instrument
In legal and financial contexts, a formal document like a contract, will, or negotiable instrument that establishes legal rights and obligations.
Value Requirement
The necessity for something to have worth, importance, or significance in a specific context, often used in legal and financial settings to assess validity or enforceability.
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