Implicit contract

Implicit contract

Nonbinding commitment, such as an employer's offer of continuity of employment, wages, and working conditions in the expectation of the employee being sincere in his or her duties and in not looking for alternate employment.

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Part of Speech: noun
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Industry/Domain: Law
Category: Contracts
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Collect to Blossary

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Related terms

implicit contract

Economy; Economics

An unwritten understanding between two groups involved in an exchange, such as an understanding between employer and employees that employees will receive a stable wage throughout ...

implicit contract

Law; Contracts

Nonbinding commitment, such as an employer's offer of continuity of employment, wages, and working conditions in the expectation of the employee being sincere in his or her duties ...

contract

Business services; Project management

A contract is a mutually binding agreement, which obligates the seller to provide the specified product or service or result, and obligates the buyer to pay for it.

contract

Law; Contracts

A lawful agreement between two or more parties, usually written is called as contract.Contract was made between both parties in written form.

contract

Legal services; Courts

An agreement between two or more persons which creates an obligation to do or not to do a particular thing. A legally enforceable agreement between two or more competent parties ...

contract

Biology; Anatomy

To become shorter and thicker. Muscles contract to produce movement. When the biceps in the arm contract, the elbow bends.

Contract

Law; Contracts

Contract, same meaning of agreement, a commercial contract this is a commercial agreement

act no.

Law; Contracts

A product, such as a statute, decree, or enactment, resulting from a decision by a legislative or judicial body

coll.

Law; Contracts

collected, coll., follows the number of an act, eg. Act No 111 Coll.

commercial register

Law; Contracts

a document that compulsorily registers individuals and legal entities (companies) engaging in commercial activities

as amended

Law; Contracts

a legislative measure altered formally by adding, deleting, or rephrasing

consideration

Law; Contracts

consideration, in roder for a cotrcat to be valid, each party shiuld receive somethin g of value, in other words consideration, thus ''be considered''=taken into account

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