Link text - WCAG 1.0
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WCAG 1.0 13.1: Clearly identify the target of each link. (P2)
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Interpreted to mean good link text or title attribute on anchor element. See list of hotels on priceline.com http://tinyurl.com/s4b57
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It is testable - evaluators would usually agree on "good link text." Tools - lists of links.
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(Not 508 requirement)