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If Inaccurate Cost Estimates Are Too High,then a Company May

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If inaccurate cost estimates are too high,then a company may unknowingly reward a manager for poor performance.


Definitions:

Common Law

A body of unwritten laws based on legal precedents established by the courts.

Misrepresentations

False statements or lies that induce someone into entering a contract or agreement.

Express Warranties

Explicit promises or assurances made by a seller regarding the condition, functionality, or quality of a product.

Common Law Language

The language used in common law jurisdictions, based on judicial decisions and customs, as opposed to statutes.

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