4 ms·
Right, the standard contract term is called 'consideration', meaning that for a contract to be valid and enforceable, each side must be giving up something of v
by pdq 11y ago
Right, the standard contract term is called 'consideration', meaning that for a contract to be valid and enforceable, each side must be giving up something of value as part of the transaction.
There's a pretty good summary here:
http://www.wolfbaldwin.com/Employment-Articles/Non-Compete-Covenants.shtml http://www.wolfbaldwin.com/Employment-Articles/Non-Compete-C...
- falcolas 11y agoWorth noting that continued employment is considered sufficient consideration for many such contract changes, in "at will" employment states.
- hwstar 11y agoThis is simply not true. It has nothing to do with at-will employment. It is state law. Some states require consideration separate from salary, some say continued employment is sufficient consideration. 49 out of 50 states recognize the doctrine of at-will employment. Only Montana uses just-cause instead (just like the rest of the developed world coincidentally).