The Process of Collective Bargaining in U

question 175

True/False

The process of collective bargaining in U.S. labor relations has the goal of producing a legally binding, written contract that specifies wages and many other terms of employment.

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Definitions:

Total Breach

A complete failure to perform or fulfill contractual obligations, resulting in the termination of the contract.

Implied Covenant

An obligation between parties that is not explicitly stated in a contract but is presumed to exist to facilitate the contract's purpose and ensure fairness.

Good Faith

Conducting oneself with honesty, fairness, and sincerity in dealings or transactions, without the intention to deceive or defraud.

Mortgage Loan

A loan secured by the collateral of specified real estate property, where the borrower is obliged to pay back with a predetermined set of payments.