Employment Contract

Categories: Credit and Debt, Real Estate, Personnel Management,

a legally enforceable agreement, either oral or written, between an employer and an employee that defines terms and conditions of employment to which both parties must adhere. Express terms of the contract are agreed between the two parties and include the organization's normal terms and conditions in addition to those that relate specifically to the individual. These terms can only be changed by employee agreement, if the contract itself allows for variation, or by terminating the contract. Terms are also implied in the contract by custom and practice or by common law.