In Contract Cases, the Court Generally

question 150

Multiple Choice

In contract cases, the court generally

• A) does not look to see if the bargain is fair.
• B) attempts to punish the party in breach of the contract by imposing a sentence.
• C) will rewrite an agreement for the parties if their existing agreement did not include all the essential terms.
• D) will enforce all promises.
• E) will require the recipient of a service to pay a reasonable price where it is determined that the agreed-upon price was too low.

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Definitions:

Direct Labor-Hours

A quantification of the total hours spent by employees working directly on the production of goods or services.

Total Cash Collected

The sum of all cash received by a company during a specified period, including sales, accounts receivable collections, and other cash receipts.

Collections

The process of recovering the amounts owed to a business by its debtors or the action of receiving payments.

Accounts Receivable Balance

The total amount of money owed to a company by its customers for goods or services delivered or used but not yet paid for.