Which of the Following Statements Is TRUE

question 35

Multiple Choice

Which of the following statements is TRUE?

• A)As a general rule,a promise to perform a pre-existing public duty can provide consideration for a new contract.
• B)As a general rule,a promise to perform a pre-existing contractual duty to one party cannot provide consideration for a new contract with a different party.
• C)As a general rule,a promise to perform a pre-existing contractual duty to one party can provide the consideration for a new contract with that same party for a lesser contractual duty.
• D)As a general rule,a creditor's promise to accept a lesser sum in complete discharge of a larger debt is unenforceable.
• E)As a general rule,a promise that is not supported by valuable consideration is enforceable only if both parties have applied their ceremonial wax seals.

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Definitions:

Uniform Distribution

A type of statistical distribution where all outcomes are equally likely; each number within a certain range has an equal chance of being selected.

Binomial Distribution

A probability distribution that models the number of successes in a fixed number of independent trials, with two possible outcomes.

Normally Distributed

Describes a dataset whose distribution forms a symmetrical, bell-shaped curve when plotted, characterized by specific mean and standard deviation values.

Independent

Describes a characteristic of variables in an experiment or study that are not influenced or caused by another variable.