What Terms Refer to Each of the Following Measures,respectively: Mean,median,and

question 27

Multiple Choice

What terms refer to each of the following measures,respectively: mean,median,and mode.

• A)middle,most,and average
• B)average,middle,and most
• C)average,most,and middle
• D)most,average,and middle

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Definitions:

Valid Offer

A valid offer is a clear proposal made by one party to another indicating a willingness to enter into a contract under specified terms, which, if accepted, results in a binding agreement.

Firm Offer

Under the Uniform Commercial Code, a signed, written offer by a merchant containing assurances that it will be held open, and which is not revocable for the time stated in the offer, or for a reasonable time if no such time is stated.

Consideration

In contract law, something of value exchanged between parties that is necessary for a valid contract.

Offeror's Death

refers to the termination of an offer in contract law due to the death of the person making the offer before it is accepted.