An Implied Contract That Binds a Party Who Made a Representation

question 26

Multiple Choice

An implied contract that binds a party who made a representation or promise that induced a person to enter into a contract with another party is called,

• A) a collateral contract.
• B) a unilateral contract.
• C) privity of contract.
• D) a secondary contract.
• E) a bilateral contract.

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Definitions:

LCL

Lower Control Limit, a statistical measure used in quality control processes to define the lowest acceptable limit of a process variation.

Out-of-control Conditions

Situations in a manufacturing or process environment where variables exceed predetermined control limits, indicating potential quality issues.

Variation

The extent to which data points in a dataset differ from each other and from the mean.

Measurement Systems

Systems and procedures used to assign numbers or other symbols to quantify the properties of objects or events according to specific rules.