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The Federal Rules of Civil Procedure carry out two basic concepts.
The first is that the unit of litigation should be the transaction as it occurred
in the out-of-court world, and not some part of the transaction
that might be encapsulated in one or another single substantive legal theory.
This concept is expressed in the Federal Rules' liberalized rules
governingjoinder of claims andjoinder of parties. The rule as to joinder
of claims provides that all claims between two opposing parties may be
asserted in a single action. A correlative rule of claim preclusion has
developed on the basis of this rule, to the effect that, in the absence of
excusing circumstances, all "rights" and grounds of relief arising out of
the transaction must be asserted in the single action.

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