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A Canadian multinational was interested in developing a market in a developing country that had once been communist,and was moving to a free enterprise system.The multinational negotiated with the government to buy and resurrect the fledging state-owned automobile industry.After signing a contract under seal,the company got cold feet and decided to back out of the deal.The contract will be enforced against the company because the application of a seal together with a signature is considered to represent consideration for the contract.
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