Gliding Light, LLC, and Hang Gliders, Inc

question 14

Multiple Choice

Gliding Light, LLC, and Hang Gliders, Inc., are parties to a contract. They subsequently agree that High Riders Inc. should take Gliding Light's place and assume all of its rights and duties under the contract. This is​

• A) ​a mutual agreement to rescind.
• B) ​an accord and satisfaction.
• C) ​a novation.
• D) ​a settlement agreement.

---

Definitions:

Instructions

Directives or commands that are followed to achieve a particular end, often detailed steps on how to complete a task or operate something.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, typically denoted by alpha.

Rule of Five

A statistical rule of thumb asserting that normal approximation can be used if an expected frequency is 5 or more in all categories of a binomial distribution.

Chi-squared Goodness-of-fit Test

A statistical test to determine if observed data deviates significantly from the expected distribution.