Hillary Sells Cosmetics from Her Part-Time Home-Based Business

question 128

Short Answer

Hillary sells cosmetics from her part-time home-based business. She receives a straight commission of 21% from her supplier. At the year-end, she also receives a 7% bonus on sales exceeding her annual quota of $50,000. What will her gross annual earnings be for a year in which her average monthly sales are $5,500?

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Definitions:

Express Condition

A clearly stated, specific condition in a contract that must be met for the performance of the contract to be required or for a party to fulfill its obligations.

Implied Condition

A legal term referring to a term or condition not expressly stated in a contract but assumed to be included by necessity or by the nature of the agreement.

Materially Breach

A significant failure to perform one's duties under a contract that results in harm to the other party and provides grounds for termination of the agreement.

Total Breach

A significant failure to fulfill a core obligation of a contract, allowing the other party to terminate the agreement and seek damages.