An Agreement to End a Contract, with Extra Consideration to Be

question 154

Short Answer

An agreement to end a contract, with extra consideration to be supplied by the party benefiting from the discharge, is known as ________.

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Definitions:

Normal Time

The standard time that a task or operation should take under normal working conditions, used in planning and scheduling.

Standard Time

The amount of time prescribed for the completion of a job or task, based on average speed and efficiency under normal conditions.

Variable Allowance

An allowance or adjustment made for changes in costs or expenses that may vary over time, often used in budgeting and pricing.

Allowance Factor

A factor used to calculate the amount of material needed considering waste or inefficiency, often in manufacturing or budgeting.