The Restatement and the Code Have Made the Traditional Test

question 51

True/False

The Restatement and the Code have made the traditional test of objective impossibility more stringent by requiring that the performance must be actually or literally impossible in order to excuse a party from contractual duties.

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Definitions:

Commission

A fee or percentage given to a salesperson, agent, or broker for facilitating or completing a sale or transaction.

Consignment

Goods from a producer to a commission merchant for sale at the best possible price.

Total Gross Pay

The total amount earned by an employee before any deductions or taxes are applied.

Commission

Commission is a fee paid to an agent or employee for transacting a piece of business or performing a service, often a percentage of the sale.