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An employment contract typically includes the following elements: Duration of employment, if applicable. Salary or wages. General job responsibilities. Work schedule. Benefits. Confidentiality. Non-compete agreement. Severance pay, if applicable.
Whereas an offer letter is unofficial (avoiding statements that promise future wages or employment), an employment contract is exactly the opposite, setting wages and length of employment in legally binding stone.
An employment contract is an enforceable agreement between two parties that contains whatever terms and conditions of employment the parties agree upon and, when accepted, becomes controlling upon the employment relationship. The contract may be oral or written, express or implied (the latter terms are defined below).
It is important to read and understand your employment contract since your signature legally binds you to all of the terms included throughout it. For those that are unaware of New Jersey law regarding employment contracts, a good place to begin is to understand that it is a legally binding document.
This occurs when the provisions are too broad or include unlawful requests. For example, if you ask a staff member to launder money as part of their job responsibilities, the contract will be rendered null and void. A voidable contract, however, is legally sound in that all the provisions are fair and valid.
In New Jersey, the elements of a valid contract are: ? An offer (see Offer). An acceptance (see Acceptance). Consideration (see Consideration). Mutual assent and intent to be bound (see Mutual Assent and Intent to be Bound).
If the terms are too vague or broad, the judge could through the document out. If there are illegal or invalid clauses, it could void the contract. This could also lead to other issues if the employer breaches the standard terms.
Tips on How to Write a Contract Letter Make the Candidate Feel Valued. ... Cover the Specifics. ... Stipulate Important Conditions. ... Spell Out the At-will Employment Relationship. ... Don't Forget the Nice-to-Knows. ... Remember the Signature. ... Ask a Legal Team to Review.