An Oral Contract Containing a Promise by an Executor to Pay

question 51

Multiple Choice

An oral contract containing a promise by an executor to pay estate debts from estate funds is:

• A) binding.
• B) voidable by the executor or administrator.
• C) enforceable against the executor only if the executor signs written proof of the agreement.
• D) enforceable against the other contracting party only if that party signs a written agreement.

Analyze the factors that foster innovation and technological advancement.

Explore the concept of barter and the challenges associated with it.

Understand the role of exchange and trade in increasing societal satisfaction.

Recognize the limitations and roles of government within a market system.

---

Definitions:

Bayes' Law

A statistical theorem that describes the probability of an event, based on prior knowledge of conditions related to the event.

Posterior Probability

The probability of an event or hypothesis being true after taking into consideration new evidence or information.

Prior Probability

The probability of an event or hypothesis before new evidence is taken into account.

Bayes' Law

A theorem in probability theory used to update the probability of a hypothesis as more evidence or information becomes available.