TABLE 2-6
The following are the durations in minutes of a sample of long-distance phone calls made within the continental United States reported by one long-distance carrier.
-Referring to Table 2-6, if 100 calls were randomly sampled, how many calls lasted 15 minutes or longer?
Definitions:
Unilateral Mistake
A situation in contract law where only one party holds an incorrect belief about a basic assumption on which a contract is based, potentially affecting the enforceability of the contract.
Mutual Mistake
A situation in a contract where all parties involved have a common but erroneous belief regarding a vital fact about the contract terms.
Valid Contract
An agreement that meets all legal requirements, including offer, acceptance, consideration, and the intention to create a legal relationship, thereby enforceable by law.
Courts
Institutions that administer justice through the interpretation and application of laws.
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