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Dr. Dowling is a clinical psychologist who is interested in the link between mental illness and criminal activity. She gets IRB permission to study patients at all five inpatient/residential mental health facilities in her state. There are 4,307 patients currently living in these facilities. She asks patients whether they have ever been arrested for a crime and whether they have ever been convicted of a crime. She collects a sample size of 1,369. She finds that 27% (+/- 3%) report having been arrested for a crime but that only 13% (+/- 3%) have been convicted of a crime.
Dr. Dowling is interviewed by a journalist about the findings of her study. The journalist asks her to explain what it means that "27% of the sample (+/- 3%) report having been arrested for a crime."
Fair Market Value
The price at which property would sell for on the open market between a willing buyer and a willing seller, both having reasonable knowledge of the relevant facts.
Valid Consideration
An essential element in the formation of a contract, referring to something of value (such as goods, services, or money) exchanged by the parties that induces them to enter into the agreement.
Illusory Consideration
An apparent promise or agreement that lacks a real commitment and therefore does not form a binding contract.
Adequacy of Consideration
An evaluation of whether something of legally sufficient value has been given in exchange for a promise or action, as part of a contract.
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