An Illegal Sale

question 15

Multiple Choice

An illegal sale:

• A) can be enforced if the illegality is unknown to the buyer.
• B) is unenforceable.
• C) qualifies as a bailment.
• D) qualifies as a conditional sale.

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Definitions:

Variance

A measure of variability that describes the spread of a data set or distribution, calculated as the average of the squared differences from the mean.

Population Parameter

A numerical value that represents a characteristic of an entire population, such as its mean or variance.

Sample Statistic

A numerical value calculated from a subset (sample) of a population, used to estimate the characteristics of the entire population.

Chebysheff's Theorem

A statistical theorem that provides a minimum probability for how much data falls within a certain number of standard deviations from the mean, applicable for any data distribution.