An Agreement Is Not Binding When

question 33

Multiple Choice

An agreement is not binding when:

• A) one party makes a mistake regarding a material fact.
• B) both parties make a mistake regarding a material fact.
• C) one party makes a mistake of law.
• D) all of the above.

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Definitions:

Observed Differences

Variations or disparities noted upon examination or comparison of subjects or objects.

Standard Deviations

A statistic that measures the dispersion or variability within a set of numerical data, indicating how much individual data points differ from the mean.

Population Averages

Statistical measures that summarize the central tendency of the characteristics of all individuals within a defined group.

Good Estimates

Approximations or judgments that are considered to be close to the actual value or outcome, often based on some form of logical reasoning or previous data.