Although Corporations Only Represent 18% of the Number of Businesses

question 61

True/False

Although corporations only represent 18% of the number of businesses they account for about 82% of the dollar value of sales.

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Definitions:

Implied Covenant

An implied covenant refers to unstated obligations in a contract that are assumed to exist in order to ensure fairness and the fulfillment of the contract's purpose.

Good Faith

Honesty in fact.

Employment-at-will Doctrine

A legal principle stating that an employment relationship can be terminated at any time by either the employer or the employee, for any reason not prohibited by law.

Family and Medical Leave Act

U.S. legislation that grants eligible employees the right to take unpaid, job-protected leave for specified family and medical reasons.