A Model Is Valid

question 61

Multiple Choice

A model is valid

• A)if it is based on human behavior.
• B)if it is new.
• C)if it has been around for many years.
• D)if it can explains some observations or events.
• E)only if it makes predictions perfectly.

---

Definitions:

Interests in Land

Legal rights or claims to the use, ownership, or possession of real estate or property.

Statute of Frauds

A legal doctrine requiring certain contracts to be in writing and signed by the party to be charged, to prevent fraud and perjuries.

Written Contract

is a legally binding agreement that has been expressed in textual form, detailing the terms and conditions between parties.

Unconscionability Rule

A legal principle that prevents the enforcement of contracts or terms that are unjust, excessively oppressive, or grossly unfair to one party.