If Event a and Event B Cannot Occur at the Same

question 148

Multiple Choice

If event A and event B cannot occur at the same time,then A and B are said to be

• A)mutually exclusive
• B)independent
• C)collectively exhaustive
• D)None of these choices.

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Definitions:

Gambling Illegal

The prohibition by law of the practice or act of wagering, betting, or playing games of chance for money or other stakes.

Exculpatory Clause

A contract provision that releases one party from liability or legal consequences of their actions to another party involved.

Release

In legal terms, an agreement where one party frees another from liability, claims, or demands.

Contract of Adhesion

A standard form contract prepared by one party, with little or no opportunity for the other party to negotiate more favorable terms.