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Business Law: 4.01 Vocabulary Review.

AB
BilateralContains two promises.
ContractAny agreement enforceable by law.
ExpressStated in words (oral or written).
ImpliedComes about by actions with no words.
UnenforceableCourt will no uphold due to some rule of law.
UnilateralContains one promise.
ValidLegally good.
VoidNo legal effect.
VoidableParty is able to void contract.


Sanderson High School

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