If Nothing Definite Is Stated About the Time Limit of an Offer

question 43

Multiple Choice

If nothing definite is stated about the time limit of an offer, it continues

• A) for a reasonable time, depending upon the circumstances.
• B) up to 25 days.
• C) until the offeree accepts or rejects the offer.
• D) until the offeror accepts or rejects the offer.

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Definitions:

Level of Significance

In statistical hypothesis testing, it is the criterion used for deciding whether to reject the null hypothesis, often represented by alpha (α) and set before the study.

Significant Results

Findings in research that are unlikely to have occurred by chance alone, indicating a notable difference or effect that is statistically significant.

Obtained Value

The measured or calculated value resulting from an experiment or study.

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis; it defines the cutoff point for significance.