Feb

The sanctity of contracts

Wed 8/4/2010: NYYRC August Social
Thu 8/19/2010: NYYRC August Meeting

By kalka

I heard again today of the whole wall street bonus mess and most everybody arguing that CEOs, etc should not be given the massive monetary bonuses promised in their contracts. My take on this has been the same from day one: employees are entitled to whatever is promised in their contracts. If the employer feels the employee has done poor quality work, then there should be simple and guaranteed measures that can be taken to terminate the employees or not renew their contract again. As someone who works under a contract I certainly do not want any third parties, especially representatives from the federal government or political parties, putting in their two cents about whether the contract negotiated between me and my employer is fair, excessive, or inappropriate. Giving any third party a say or worse the power to invalidate contracts sets a dangerous precedent, and I’m surprised that is not realized by more people. ..or doesn’t seem that way.

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