To Be Enforceable and Upheld by a Court,an ADR Contract

question 8

Multiple Choice

To be enforceable and upheld by a court,an ADR contract clause should include all the following standard provisions except:

• A)the types of disagreements that will be submitted to ADR.
• B)the ADR technique or techniques that can be used.
• C)the substantive law and the procedural rules that will be followed.
• D)whether both parties have sufficient insurance resources to sustain the award.

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Definitions:

Fixed Manufacturing Overhead

Costs in the manufacturing process that remain constant regardless of the production volume, including equipment depreciation and building lease expenses.

Direct Labor-Hours

The total hours worked by employees who are directly involved in the production of goods or services.

Direct Labor

The labor costs of employees who are directly involved in the production of goods, an element of production costs.

Master Budget

A comprehensive financial plan that includes all of a company's budgets and financial plans.