Contract
occurs when one party intentionally or unintentionally does not fulfill their contractual obligations; awards the non-breaching party some kind of remedy under law such as monetary damages or cancellation of the entire contract
Breach of Contract
law stating you cannot discriminate wages based on gender
Equal Pay Act
-payments made to employees after they have retired, similar to a retirement plan; regulated by the Employee Retirement Income Security Act (ERISA)
PENSION
occurs when the party to which the offer was made agrees to the terms of the contract; may not be made immediately; must somehow be communicated to the party offering the contract
Acceptance
situation in which all parties agree to the terms of the contract
Mutual Agreement
set of written standards issued by an organization to assist its employees in conducting their actions in conformity with the organization's ethical values
CODE OF ETHICS
legal term for the bargain occurring when one party gives something up and another party receives something in return
Consideration
federal organization which regulates and investigates workplace incidents involving injury and illness for most U.S. workers
OSHA
legally enforceable document between two or more parties creating an obligation; usually regulated and enforced by the state in which it was made
Contract
people, organizations or corporations/ all people that interact with the business.
STAKEHOLDERS
occurs when the original offer of a contract is not accepted and a new offer is returned in the original offer’s place; voids or nullifies the original offer; may be accepted, rejected or modified by the party who made the original offer
Counteroffer
people, organizations or corporations/ all people that interact with the business.
REVOKED