Which of the Following Are Needed for an Offer to Be

question 45

Multiple Choice

Which of the following are needed for an offer to be effective?

• A) The offeror must objectively intend to be bound by the offer.
• B) The terms of the offer must be definite or reasonably certain.
• C) The offer must be communicated to the offeree.
• D) The offeror must objectively intend to be bound by the offer, and the terms of the offer must be definite or reasonably certain.
• E) The offeror must objectively intend to be bound by the offer, the terms of the offer must be definite or reasonably certain, and the offer must be communicated to the offeree.

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Definitions:

Critical Value

A threshold value that separates probable values from improbable values for a test statistic, under a specified significance level.

Region of Non-rejection

An area in hypothesis testing where the data does not provide sufficient evidence to reject the null hypothesis.

Statistic

A quantitative measure derived from a sample of data used to summarize or describe aspects of that data.

Combined Probability

Combined probability refers to the likelihood of two or more independent events happening at the same time, calculated by multiplying the probabilities of each event.