Discuss How Parties Show Mutual Assent and What Standard Is

question 15

Essay

Discuss how parties show mutual assent and what standard is used to determine agreement.

---

Definitions:

Direct Materials

Raw materials that can be directly traced to the production of finished goods, considered a variable cost and included in the calculation of the cost of goods sold.

Direct Labor

The wages and other compensation paid to employees who are directly involved in the production of goods or services.

Direct Material

Direct material refers to the raw materials that can be directly attributed to the production of goods, essentially part of the finished product.

Lumber

Refers to processed wood used for construction or other purposes.