Which of the Following Is NOT One of the Three

question 37

Multiple Choice

Which of the following is NOT one of the three different processes of logical reasoning?

• A) deduction
• B) induction
• C) reduction
• D) abduction

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Definitions:

Delivery

The process of transferring goods from one party to another, completing the sale or fulfilling a term in a contract.

Acceptance

is the agreement to the terms of an offer, contract, or proposal, thus forming a binding contract between the parties.

Insurable Interest

A requirement that a person stands to suffer a financial loss or certain types of losses from the damage, loss, or destruction of the subject matter of the insurance policy.

Purchase Money Security Interest

A legal claim that allows a lender to repossess or foreclose on property if the borrower fails to pay back the loan used to purchase the property.