Examlex
A manager wishes to determine the relationship between the number of miles (in hundreds of miles) the manager?s sales representatives travel per month and the amount of sales (in thousands of dollars) per month.
Find the standard error of estimate, given that ? = 3.53x + 37.92.
Accord And Satisfaction
A legal agreement where a dispute is settled by one party providing something of value, which is then accepted by the other party as satisfactory resolution.
Novation
The act of replacing an existing contract with a new one, where a new party takes over the rights and obligations from an original party.
Substantial Performance
Substantial Performance is a legal concept where a party has completed a majority of its obligations, justifying payment or consideration despite minor faults.
Material Breach
A significant violation of a contract that goes to the essence of the agreement, giving the aggrieved party the right to terminate the contract and seek damages.
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