Examlex
What are some of the common individual and group incentive options? Briefly discuss each option.
Recognizance
An obligation in which a party acknowledges in court that he or she will perform some specified act and/or pay a price on failure to do so.
Bail
A thing of value, such as a money bail bond or any other form of property, that is given to the court to allow a person’s temporary release from jail and to ensure his or her appearance in court.
Offeree
A person or entity to whom an offer is made, which they can either accept or reject.
Offeror
The individual or party that presents a proposal or contract to another party for acceptance.
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