Nick,a Real Estate Agent,decided to Purchase a House for $300,000

question 16

Essay

Nick,a real estate agent,decided to purchase a house for $300,000 after hiring architects,decorators,and electricians to examine it.However,Nick did not get the property appraised.After executing the sale contract with the homeowner,Kurt,Nick discovered that the house was actually worth only $150,000.Will Nick be entitled to rescind his contract with Kurt? Explain.

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Definitions:

Response Variable

A variable that measures the effect of a treatment or experimental condition in a study or experiment.

Experimental Groups

Groups in an experiment that receive the treatment or the variable being tested, as opposed to control groups which do not.

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A cloud storage and cloud computing service from Apple Inc. that allows users to store data such as documents, photos, and music on remote servers.