Some Courts Have Determined That the Inclusion of an Arbitration

question 26

True/False

Some courts have determined that the inclusion of an arbitration clause in an acceptance as a means of dispute resolution constitutes a material alteration of the offer in a merchant transaction.

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Definitions:

Expected Demand

An estimate of the quantity of a product or service that consumers will purchase in the future, often used for planning and inventory management.

Demand Probability

The likelihood that a specific level of demand will occur within a certain period.

Monte Carlo Simulation

An algorithm that utilizes multiple instances of random sampling to generate numerical outcomes, commonly applied in assessing risks and making decisions.

Cumulative Probability

The probability that a random variable is less than or equal to a specific value, representing the accumulation of individual probabilities.