How Do Courts Generally Rule in Cases Involving Ambiguous Contract

question 15

Multiple Choice

How do courts generally rule in cases involving ambiguous contract language that makes it unclear what is being assigned or delegated?

• A)When ambiguous language is used,the court usually considers the assignment to be of both rights and duties.
• B)When ambiguous language is used,the court usually considers the assignment to be of rights but not duties.
• C)When ambiguous language is used,the court usually considers the assignment to be of duties but not rights.
• D)When ambiguous language is used,the court usually considers the assignment to be void.
• E)When ambiguous language is used,the court usually considers the assignment to be voidable.

Distinguish between one-sided and two-sided significance tests.

Analyze the significance level (alpha) and its role in hypothesis testing.

Apply hypothesis testing to real-world scenarios involving means and proportions.

Recognize the importance of sample size and random sampling in conducting hypothesis tests.

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Definitions:

Frequently Occurring

Happening or appearing in a pattern that repeats often within a given time frame.

Adjusting Entries

Journal records created at the close of an accounting cycle to distribute revenues and costs to the period they truly happened in.

Prepaid Insurance

The portion of insurance premiums that has been paid in advance and is considered a current asset on the balance sheet because it provides future economic benefits.

Cash Payments

Transactions that involve the transfer of currency or check from one party to another as a form of payment.