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Convergence theory suggests that when less developed countries begin to develop, they typically have higher growth rates as they catch up with more developed nations.
Actual Privity
A real or direct relationship between parties, especially in contracts, where both are expressly named and involved.
Fraudulent Financial Statement
Financial reports intentionally manipulated or altered to misrepresent a company's financial position, often to deceive stakeholders or regulatory bodies.
Doctor-Patient Privilege
A legal principle that protects the confidentiality of communication between doctors and their patients.
Statute
A law passed by a legislature.
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