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pre-approval

pre-approval a lender commits to lend to a potential borrower a

Penalty

contract that the sum named is 'liquidated damages' will not prevent the Court from deciding that it is a penalty. 'The … loss, Dunlop Co. v. New Garage Co., 1915 AC 79; approved in Widnes Foundry (1925) Ltd. v. Cellulose Acetate Co. Ltd.,

condition

implied in law : constructive condition in this entry condition precedent [-pri-sēd-nt, -pre-sə-dənt] : a condition that must be fulfilled before … to make subject to conditions [the sale…was orally conditioned upon approval of the patent "j. d. calamari and j. m. perillo"]

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