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An implicit contract can be an explicitly written document or a tacit agreement (some people call the former an "explicit contract"). The contract is self-enforcing, meaning that neither of the two parties would be willing to breach the implicit contract in absence of any external enforcement since both parties would be worse off otherwise.
However, as two of the reasons for self-sale in Russian history were avoidance of the military draft and avoidance of poll taxes, also known as soul taxes, it is questionable how voluntary this sort of slavery really was. [11] The presence of a contract does not mean that a person entered into the condition of forced labor voluntarily.
The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
A self-enforcing agreement is an agreement that is enforced only by the parties to it; no external party can enforce or interfere with the agreement. (In this respect it differs from an enforceable contract.) The agreement will stand so long as the parties believe it is mutually beneficial and it is not breached by any party. [1]
KU coach Bill Self has signed a new rolling contract with the Jayhawks, which one report says makes him college basketball’s highest paid coach.
Often, self-help is allowed as long as no law is broken and no breach of the peace occurs (or is likely to occur). Additionally, the usual limit on liability for actions of an agent does not apply; if one uses an agent, such as an independent contractor, to perform the self-help action, the principal will be held strictly liable if anything ...
Bill Self intends to finish his coaching career at Kansas, making his clearest statement yet one day after the announcement of a lifetime contract that will pay the Hall of Famer $53 million over ...
The school released the details of the contract and the deal is worth $53 million over the five-year term. Bill Self signs amended, rolling five-year contract that makes him the highest-paid coach ...
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