Fact Pattern 21-B1

question 33

Multiple Choice

Fact Pattern 21-B1
First State Bank issues a letter of credit in favor of Oboe Company,an American firm,to facilitate an international sales contract to buy resources from Lapland Mining,Ltd. ,a Finnish company.
-Refer to Fact Pattern 21-B1.First State Bank is bound to

• A)make sure that the parties perform the contract.
• B)verify with Oboe that the transaction has been completed.
• C)make payment when Lapland presents the proper documents.
• D)pay Lapland whenever it asks to be paid.

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Definitions:

Validity of an Experiment

This refers to the extent to which the results of an experiment accurately reflect the reality or truth of the situation being studied.

Experimenter Bias

In experimental design, the problem of some kind of bias in an experimental group because of the way the researcher, knowingly or unknowingly, has selected its members.

Internal Validity

The degree to which the results of a study can be attributed to the experimental treatments or interventions rather than other factors.

Spurious Relationship

An apparent relationship between two variables that is actually caused by a third variable.