An open-ended employment contract is an employment contract that has no termination date for the employee. Under this type of contract, the duration of time an employee will spend under a single employer is ambiguous, leaving the employee free to keep working in her job as long as her perfor...
An open-ended fund is a type of investment fund that does not have a fixed number of shares. Investors can buy and sell shares of the fund directly from the fund manager at the fund’s net asset value (NAV), which is calculated at the end of each trading
If the “work specified in the contract” ends and your performance continues without the objection of the employer, is this considered a renewal of the contract? If the contract is for the execution of a specific work, the contract is terminated by its accomplishme...
An open-ended promissory note is similar to a line of credit. Rather than receiving the full amount of funds immediately, the borrower only receives a portion and pays that back over the period of time agreed to in the promissory note. This allows the borrower to draw additional funds later...
An implied employment contract is not documented in writing. It is based on the relationship that is exhibited between the business and the employee. Implied contracts are legal, but they are more difficult to prove if there is a disagreement or an alleged breach of contract since they aren’...
Consideration doesn’t actually have to be money though – it can be anything of value that you get as part of a contract, like equipment or work. In short, it’s what you agree to give in a contract, to get what you want as a result of the relationship. Consideration is a key ...
This means payments can vary each month depending on the balance outstanding. This is because revolving credit is an open-ended agreement in which the borrower has a specified credit limit that they can access if they choose. This makes the lending process continuous with the balance depending on...
Revolving credit is an open-ended loan that may be reused indefinitely as you pay the balance. One risk with revolving credit is that interest can compound if you don't pay off the entire balances every month. Types of Consumer Credit in Finance ...
Even when advanced statistical algorithms are applied to data sets, it doesn't necessarily mean data science is involved. True data science uses custom coding and explores answers to open-ended questions. In contrast, business analytics excels at solving a specific question or problem. ...
When you're eligible to switch, you’ll receive a letter, email, or text to let you know your contract is ending. This is a real victory for consumers, as you’ll now be told when you’re free to look at other tariffs and ultimately save money with a better deal. ...