Law and ethics Research Paper Example | Topics and Well Written Essays - 500 words

Law and ethics - Research Paper Example Additionally, the contract clause called binding effect ensures that both parties have sufficient knowledge or skill concerning the consequences of their actions (Chen-Wishart, 2012). On the other hand, labor law should focus on the rules and regulations that define minimum wage and collective action. Accordingly, provision of warranty is vital because it allows an aggrieved party to claim losses suffered or monetary damages. Overall, the defining rules should equally have collateral contracts besides the main contract to assist in case the other fails. It is crucial to comprehend the contents of a contract in relation to the clauses and limitations that are often defined by civil or penalty law. A penalty law is imposed in case a party contravenes the contents that bear a huge significance in the contract. Consequently, a penalty could assume a monetary payment or forfeiture of certain resources that are clearly spelt out in the employment contract. Alternatively, adducing supporting evidence is fundamental in cancelling a contract or invoking the civil law to receiving fine for restitution (Poole, 2012). Similarly, under the labor laws, both parties must thoroughly acknowledge the limitations of the contract. For example, the contract could either be rescinded or void depending on the emerging terms and conditions. Construction of the contract must obey the relative terms that are spelt out by employment contract or labor laws. This is because it is upon both parties to set the agendas of the bargain including subsequent rights and responsibilities. Likewise, during the construction of the contract, comprehending the implications of social subordination and economic dependence will determine the avoidance of civil penalties. Conversely, the labor laws must address the issues of bargaining power that breed inequality between individual parties the scenario usually result to conflicts and injuries