A Contract Entered into Involuntarily Is Enforceable If Present in Writing

question 1

True/False

A contract entered into involuntarily is enforceable if present in writing.

---

Definitions:

Hourly Wage Rate

The amount of money paid for each hour of work, commonly used to compensate hourly employees.

Labor Variances

Differences between the actual labor costs incurred and the standard labor costs expected for the work performed.

Standard Labor Rate

A predetermined cost per labor hour, used in budgeting and cost control for planning and evaluating labor expenses.

Actual Hours Incurred

The real number of hours worked or used in the completion of a task or production of a good, as opposed to the estimated hours.