If the Parties' Contract Calls for a Number of Performances

question 10

True/False

If the parties' contract calls for a number of performances over an indefinite period of time, the contract is valid for a reasonable period of time but may be terminated at any time by either party after giving reasonable notice.

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Definitions:

Federal Unemployment Taxes

Taxes imposed on employers to fund state workforce agencies and unemployment insurance.

Employer

An individual or organization that hires and pays for the services of workers.

Employee

An individual who works part-time or full-time under a contract of employment, providing labor to an employer for compensation.

Unfunded Pension Liability

A pension plan's financial shortfall when the projected retirement benefits obligations exceed the current assets available to fund them.