Examlex
Decide whether the following is a binomial experiment.
Drawing a card from a deck and seeing what suit it is
Consideration
a legal principle involving something of value exchanged between parties within a contract, making the agreement enforceable.
Accord And Satisfaction
An arrangement between contracting parties whereby one of the parties substitutes a different performance for his or her original duty under the contract. The promise to perform the new duty is the accord, and the actual performance of that new duty is the satisfaction.
Liquidated Debt
Debt for which there is no dispute between the parties about the fact that money is owed and the amount of money owed.
Valid Consideration
Something of value (cash, services, goods, etc.) that is exchanged between parties in a contract, making the contract legally binding.
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