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Frederick Taylor's work led to a fundamental change in management philosophy.The change
Duty to Act in Good Faith
A legal obligation requiring parties to act honestly and fairly towards each other within the bounds of a contract.
Commissions
Payments made to employees or agents based on the sales they generate or the deals they complete, often a percentage of the sale price.
Breach
The act of violating a law, duty, or agreement, which can result in legal consequences or termination of the contract.
General Rules of Contract
Fundamental principles that govern the formation, interpretation, and enforcement of contractual agreements.
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