Objective Theory of Contracts States That the Intent to Contract

question 18

True/False

Objective theory of contracts states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties.

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Definitions:

Beta Coefficients

A measure in regression analysis that indicates the change in the dependent variable expected for a one-unit change in the independent variable.

Categorical Variable

A variable that can take on one of a limited, and usually fixed, number of possible values, assigning each individual or other unit of observation to a particular group or nominal category.

Coding

The process of transforming computer algorithms into a sequence of instructions that can be executed by a computer.

Multiple Linear Regression

A statistical method that employs multiple explanatory variables to forecast the result of a dependent variable.