Examlex
University degree requirements typically are different for Bachelor of Science degrees and Bachelor of Arts degrees. Some students get a Bachelor of Arts and Science degree, which requires meeting graduation criteria for both degrees. A student advisor needs to know the probability a newly admitted student is interested in such a program, so that the student can be properly advised. A study of previous years finds that the probability a student gets a Bachelor of Science degree is P(Science) = 0.3 and the probability a student gets a Bachelor of Arts degree is P(Arts) = 0.6. The probability of getting a Bachelor of Science degree, given that a student is getting a Bachelor of Arts degree, is given by P(Science | Arts) = 0.3. The probability that a student will get no degree is:
Duty
In a negligence action, an obligation to live up to a reasonable standard.
Gratuitous Bailment
A legal relationship where personal property is voluntarily transferred from one party to another without expectation of payment or benefit.
Equity
Legal principles founded upon fairness, as developed in the Court of Chancery to relieve the harshness of the common law; also the value left in an asset after subtracting what the owner owes.
Leasehold Estates
An estate that gives the holder (lessee) the right to use and occupy rental property for a fixed or indefinite period, without owning the property.
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