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An employment contract or contract of employment is a kind of contract used in labour law to attribute rights and responsibilities between parties to a bargain. The contract is between an "employee" and an "employer". It has arisen out of the old master-servant law, used before the 20th century.
In the context of the labor market, an implicit contract is an employment agreement between an employer and an employee that specifies how much labor is supplied by the worker and how much wage is paid by the employer under different circumstances in the future.
Two of the prominent examples of work and employment contracts in Germany are the Werksvertrag or the Arbeitsvertrag, which is a form of Dienstleistungsvertrag (service-oriented contract).
Management contracts give business owners an assurance of the continuity of their business. This can be illustrated through an example. A manager or any employee may terminate their job, leaving the business a hole in its team for the smooth functioning of the operations.
An example is the Family and Medical Leave Act in the United States. This Act defines joint employment in determining which business entity has the legal responsibility to provide an equivalent job for an employee returning from family or medical leave.
An employment contract in English law is a specific kind of contract whereby one person performs work under the direction of another. The two main features of a contract is that work is exchanged for a wage, and that one party stands in a relationship of relative dependence, or inequality of bargaining power. On this basis, statute, and to some ...
Freedom of contract is the process in which individuals and groups form contracts without government restrictions. This is opposed to government regulations such as minimum-wage laws, competition laws, economic sanctions, restrictions on price fixing, or restrictions on contracting with undocumented workers.
Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract.
Definition. In neoclassical economics theory, labor market discrimination is defined as the different treatment of two equally qualified individuals on account of their gender, race, disability, religion, etc. Discrimination is harmful since it affects the economic outcomes of equally productive workers directly and indirectly through feedback ...
A fixed-term contract is a contractual relationship between an employee and an employer that lasts for a specified period that is determined in advance. These contracts are usually regulated by countries' labor laws, to ensure that employers still fulfill basic labour rights regardless of a contract's form, particularly unjust dismissal.