When Interpreting Contracts, Arbitrators Look to All of the Following

question 86

Multiple Choice

When interpreting contracts, arbitrators look to all of the following except:

• A) The contractual language
• B) Past practice of the parties
• C) Intent of the parties
• D) Desires of the parties

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Definitions:

Selling Expenses

Costs incurred directly from the selling of products or services, such as advertising and sales staff salaries.

Depreciation

The methodical distribution of a physical asset's cost throughout its expected lifespan.

Cost Of Goods Sold

Expenses directly linked to the creation of products sold by a business, such as materials and workforce costs.

Merchandising Firm

A business that purchases finished products and sells them to consumers without altering the state of the product.