When a Selection Method Is Free from Random Error We

question 45

Multiple Choice

When a selection method is free from random error we say it is:

• A)reliable.
• B)valid.
• C)legal.
• D)practical.
• E)inexpensivE.

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Definitions:

Illusory Contract

A supposed agreement that lacks the necessary elements of a binding contract, giving the illusion of a mutual contract without any enforceable commitment.

Consideration Requirement

The consideration requirement is a fundamental principle of contract law that mandates a contract must involve an exchange of value between the parties for it to be legally binding.

Monetary Value

The specific amount of money something is worth, often determined by market conditions, demand, and utility.

Promissory Estoppel

A legal doctrine preventing an individual from reneging on a promise when another person has reasonably relied on that promise to their detriment.