A Number of Courts Have Used the Doctrine of Promissory

question 63

True/False

A number of courts have used the doctrine of promissory estoppel to displace the requirement of a writing by enforcing oral contracts within the statute of frauds.

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Definitions:

Second-order Autoregressive Model

A stochastic process where the current value is based on a linear combination of the two immediately prior values plus an error term.

Average Mortgage Rate

The mean interest rate given across all mortgage loans in a given period, indicating the cost of borrowing for home loans.

Seasonal Variation

Fluctuations in data or activity that occur at regular intervals over a year due to seasonal factors.

Random Variation

Natural fluctuations in the data occurring due to chance variations, which are inherent in any process or measurement.