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qualify business definition
- To meet requirements for obtaining credit. For example, a potential homebuyer must comply with lender-established standards with regard to income and credit history in order to qualify for a mortgage loan.
- To meet the standards established for obtaining a job. For example, a firm may stipulate that job applicants possess an earned college degree in accounting plus two years' experience to qualify for a job opening.
- To include a stipulation in a contract. For example, a contract to purchase a home is qualified with a restriction that the structure must be moved from the property within six months of purchase.
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