Chapter 4

Question 1

What are the necessities to an employment contract?

Answer 1

an offer, acceptance and consideration

Question 2

What are the advantages to a written contract?

Answer 2

1. reduces the risk of misunderstandings
2. addresses contentious issues early (different perceptions)
3. reduces uncertainty

Question 3

What are the implied terms of the contract?

Answer 3

if issues dispute is not in the contract, court will decide what they agreed upon

Question 4

What are the challenges to enforce ability in the employment contract?

Answer 4

1. lack of consideration
2. inequality of bargaining power (unreasonably one-sided)
3. obsolescence (if not doing same job or duties)
4. failure to meet statutory minimums
5. use of ambiguous language (use clear words)

Question 5

What are the 16 contract terms?

Answer 5

1.job description 2.renumeration 3.term 4.termination 5.probationary period 6.relocation 7.benefits 8.restrictive covenants 9.ownership of intellectual property 10.choice of law 11.corporate policies 12.entire agreement clause 13.inducement(recognize previous experience) 14.independent legal advice 15.severability clause (if court invalidates part of the contract, it will not affect validity of remainder) 16.golden parachute