All of the Following Are Essential Elements of a Contract

question 14

Multiple Choice

All of the following are essential elements of a contract EXCEPT

• A) competent parties.
• B) lawful objective.
• C) monetary consideration.
• D) meeting of the minds.

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Definitions:

Variability

The extent to which data points in a statistical distribution or data set diverge from the average or mean.

Normal Distribution

A symmetrical, bell-shaped distribution of data where most of the observations cluster around the central peak and probabilities for values taper off equally on both sides.

Standard Normal Distribution

A specific probability distribution that has a mean of zero and a standard deviation of one, representing a normal distribution.

Unit of Measurement

A definite magnitude of a quantity, defined and adopted by convention or by law, that is used as a standard for measurement of the same kind of quantity.