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Jun 11, 2020 · action at law or in equity is from a service contract. The sentence is: If any action at law or in equity is necessary, the prevailing party is entitled to be refunded of the legal expenses. Does. Jun 9, 2010 · Equity accounting: A method of accounting whereby a corporation documents a portion of the undistributed profits for an affiliated company in which it owns a position. Investopedia explains.
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