Examlex
Break-even sales volume is the sales volume necessary to cover all direct selling expenses.
Promissory Estoppel
A legal principle that prevents a person from going back on a promise, even if it was not a formal contract, when the other party has relied on that promise to their detriment.
Legal Detriment
A loss or disadvantage that occurs to one party in a contract, considered a necessary component for a valid contractual agreement.
UCC
Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.
Seal
A device used to impress or mark documents as a form of authentication or to signify agreement.
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