Examlex
A_______________ is calculated by relating total estimated factory overhead to an allocation factor such as total estimated direct labor cost, and is used to allocate factory overhead to specific jobs.
Form a Contract
The process of creating a legally binding agreement between two or more parties.
Consideration
The benefit which is bargained for between the parties and is the essential reason for a party entering into a contract.
Bargained-For Exchange
A fundamental principle in contract law where both parties must exchange something of value for a contract to be considered valid and enforceable.
Genuine Assent
The agreement to enter into a contract based on a clear understanding of its terms, without any duress, fraud, or undue influence.
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