The Overall Group Productivity Level Is at the Heart of Piece-Rate

question 197

True/False

The overall group productivity level is at the heart of piece-rate plans.

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Definitions:

Hamer v. Sidway

A landmark 1891 New York Court of Appeals case that established the principle of forbearance (refraining from an action) as valuable consideration in contract law.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another party if the latter has relied on that promise to their detriment.

Consideration

In contract law, something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.

Illusory Promises

Commitments made in a contract that are vague or unenforceable because they do not bind the promisor to a specific action.