Which of the Following Statements About Simple Contracts Is Correct

question 3

Multiple Choice

Which of the following statements about simple contracts is correct?

• A)They must be written.
• B)They can take any form and do not require consideration.
• C)They can take any form and must include consideration.
• D)They have a maximum duration of 12 years.

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Definitions:

Normal Data

Data that follows a normal distribution, characterized by a bell-shaped curve where most observations cluster around a central peak and probabilities for values taper off equally in both directions.

Alternative Hypothesis

A statement that contradicts the null hypothesis and is tested for possible acceptance in hypothesis testing.

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable about its mean.

Simple Random Sample

A selection from a larger population where every member has an identical chance of being picked.