PROMISES FOR THE FUTURE Definition

PROMISES FOR THE FUTURE is not a standard term, but is sometimes used in contracts to delineate what orders/commitments may exist in the future. Dependent upon the contractual language, it may or may not be binding.

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MOTIVATION is the cause of the action, i.e. the reason that gives purpose and direction to behavior.

INCOME APPROACH is a general way of determining a value indication of a business, business ownership interest, security, or intangible asset using one or more methods that convert anticipated benefits into a present single amount.

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