Josh Is Having a House Built and the Contract Specifies

question 31

True/False

Josh is having a house built and the contract specifies that the completion date is November 23^rd.If the builder doesn't complete the house until November 28^th,the builder is not liable for damages unless a "time is of the essence" clause is part of the contractual conditions.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean.

Returns

Returns are the profits or losses generated from an investment over a specified period, often expressed as a percentage of the initial investment amount.

Risk

The possibility of loss or another adverse outcome resulting from a particular action or event.

Negatively Skewed Distribution

A probability distribution that is skewed to the left, indicating that the tail on the left side of the probability density function is longer or fatter than the right side.