Examlex
Forced expiratory volume (FEV) is the volume of exhaled air, and it is related to lung size as well as to lung function. FEV is typically lower in persons with impaired lung function due to disease. The residual plots below are from two regressions: the first plot is from regressing height on FEV and the second is from regressing height on log(FEV) .
Based on these plots, which statement is correct?
Consideration
Something of value that is exchanged between parties in a contract, making the agreement legally binding.
Preexisting Contract
A legal agreement that was created and became effective before the current discussion or issue.
Additional Consideration
Extra benefits or compensation provided to one party in a contract to modify or amend the original terms.
Consideration
In contract law, consideration is the benefit or value that parties agree to exchange, which is necessary for a contract to be legally binding.
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