For an Exchange of Promises to Be Legally Binding, Parties

question 570

Multiple Choice

For an exchange of promises to be legally binding, parties must make sure the exchange:

• A) meets the requirements of a contract
• B) is witnessed by a third party
• C) is in writing
• D) is unique
• E) takes place before a court official

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Definitions:

FR(%)

Failure Rate (Percent), a measure often used in reliability engineering to indicate the likelihood of failure per unit of time.

MTBF

Mean Time Between Failures, a reliability metric that measures the average time between failures of a system or component.

System Reliability

The probability that a system will perform its intended function without failure over a specified period.

System Reliability

The probability that a system will perform its intended function without failure under specified conditions for a designated period of time.