A Game Involves Drawing a Single Card from an Ordinary $50$

question 103

Short Answer

A game involves drawing a single card from an ordinary deck. If an ace is drawn, you receive $50$ cents; if a heart is drawn, you receive $25$ cents; if the queen of spades is drawn, you receive $ $1$ . If the cost of playing is $11$ cents, should you play? Answer yes or no .

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Definitions:

Consideration

Something of value exchanged between parties as part of a contract, which is required for the contract to be legally binding.

Holder

Someone who legally possesses a negotiable instrument, such as a check or bond, and has the right to enforce it.

Instrument

In legal and financial contexts, a formal document like a contract, will, or negotiable instrument that establishes legal rights and obligations.

Value Requirement

The necessity for something to have worth, importance, or significance in a specific context, often used in legal and financial settings to assess validity or enforceability.