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Enforceable Oral Contract
A verbal agreement that is legally binding and can be enforced in a court of law, under certain conditions.
Assets
Resources with economic value owned by an individual, company, or country, expected to provide future benefits.
Standard Construction Rule
In legal interpretation, this rule dictates that ambiguous contract terms should be construed against the drafter.
Prewritten Contract
A standardized legal document with set terms and language used in similar transactions, which is not specifically tailored to the needs of the parties involved in a particular deal.
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