Examlex
Lisa is in a free-throw shooting contest where each contestant attempts 10 free throws. On average, Lisa makes 77% of the free throws she attempts.
A) What is the probability that she makes exactly eight free throws?
B) What is the probability she makes at least nine free throws?
C) What is the probability she makes fewer than nine free throws?
D) Lisa is competing against Bill to see who can make the most free throws in 10 attempts. Suppose Bill goes first and makes seven. Should we expect Lisa to make at least as many as Bill? Explain.
Illusory Promise
A statement that appears to assure a commitment but lacks the essential elements to bind the promisor legally.
Option to Cancel
A clause in a contract that allows one or more parties to terminate the agreement under certain conditions.
Legally Sufficient Consideration
refers to something of value or a promise exchanged between parties in a contract that is recognized by law as adequate to establish a binding agreement.
Preexisting Duty
An obligation that a party is already legally required to perform, which cannot serve as the basis for new consideration in a contract.
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