It states that velocity is greatest when all active sites are filled with substrate.  
One of the diagrams it can generate is known as the Eadie-Hofstee, which magnifies departure from linearity that may not be apparent in the better-known diagram that it generates.  It simply assumes that the rate of the formation of the product, P, is proportional to the concentration of the complex.  A curve can be generated from it using the Lineweaver-Burke plot and "V sub M" or maximum velocity occurs at the point where the curve flattens out. It states that velocity is greatest when all active sites are filled with substrate.  FTP, identify this hypothesis named for its two discoverers that offers a general explanation of the velocity and mechanism of enzyme-catalyzed reactions.
One of the diagrams it can generate is known as the Eadie-Hofstee, which magnifies departure from linearity that may not be apparent in the better-known diagram that it generates.  
Michaelis-Menten hypothesis