WEEK 5

What is the definition of an employment contract?

• A contract between two employees

• A contract between an employee and an employer

• A contract between two employers

• A contract between an employer and a customer

According to the Contract Act 1950, what is required for an agreement to be considered a legally binding contract?

• It must be signed by a lawyer

• It must be written in a specific format

• It must be approved by the government

• It must be made by the free consent of the parties

What is the importance of an employment contract for both the employee and the employer?

• It only benefits the employee

• It only benefits the employer

• It is not important for either party

• It bonds both parties to do their duties and responsibilities

What are the types of employment contracts mentioned in the text?

• Permanent employment, temporary employment, and independent contractor

• Full-time employment, part-time employment, and internship

• Contract of service, contract for service, and contract of employment

• Permanent employment, temporary employment, and freelance employment

What should be included in the terms of an employment contract related to compensation?

• Only health insurance

• Only base salary

• Base salary, signing and production bonuses, and base benefits

• Only pension plans

What is the purpose of a non-compete clause in an employment contract?

• To allow the employee to establish a competing business

• To prevent the employee from taking a position with the employer's competitor

• To allow the employee to work for a competitor

• To provide additional benefits to the employee

What does the non-solicitation provision in an employment contract prevent the employee from doing?

• Preventing the employee from discussing work with colleagues

• Preventing the employee from accepting employment for a competing business

• Preventing the employee from taking sick leave

• Preventing the employee from taking annual leave

What does the work for hire provision in an employment contract state?

• The creations made during employment are not owned by anyone

• The employer owns the creations made during employment

• Both the employee and employer own the creations made during employment

• The employee owns the creations made during employment

What is the purpose of an alternative dispute resolution in an employment contract?

• To encourage the employee to sue the employer

• To save time and legal expenses in case of a conflict

• To avoid any discussion between the parties

• To make the conflict resolution process more complicated

What are some of the employee benefits that can be included in an employment contract?

• Stock options, equity, and insurance

• Only pension plans

• Only annual leave

• Only health insurance