An Implied Contract May Become Binding When Management Urges an Employee

question 49

True/False

An implied contract may become binding when management urges an employee to leave another organization by promising higher wages and benefits and then not following through with these conditions after the person has been hired.

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Definitions:

Swivel Chairs

Chairs designed with a single central leg that allows the seat to rotate 360 degrees, often used in office environments for mobility and comfort.

Allowable Decrease

In linear programming, it is the maximum amount by which the value of a decision variable can be reduced without changing the optimal solution.

Swivel Chair

A chair that rotates horizontally, typically on a single central leg, allowing the user to turn in any direction.

Net Profit

The financial gain remaining after subtracting all expenses, taxes, and costs from revenue; a key indicator of a business's profitability.