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Describe the three forecasting time horizons and their use.
Enforceable Legal Rights
are rights granted by the law that can be brought before a court for protection or enforcement.
Donee Beneficiary
A third-party beneficiary for whom a contract is intentionally made to benefit as a gift.
Constructive Breach
A type of breach of contract where one party indirectly fails to perform their obligations, thereby allowing the other party to treat the contract as broken.
Contractual Obligations
Duties that are legally binding and arise from agreements or contracts between two or more parties.
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