contract of participation

contract of participation
A contract which the employees are required to enter into with the company under a profit sharing scheme by which they agree to be bound by certain conditions.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • participation — par·tic·i·pa·tion n 1: the action or state of taking part in something: as a: association with others in a relationship (as a partnership) or an enterprise usu. on a formal basis with specified rights and obligations a loan made directly or in… …   Law dictionary

  • contract — I n. 1) to conclude, sign; negotiate; ratify a contract 2) to carry out, execute a contract 3) to draw up, write a contract 4) to assign (after bidding), let; award a contract 5) to abrogate, cancel, repudiate a contract 6) to breach, break,… …   Combinatory dictionary

  • contract — contractee, n. contractible, adj. contractibility, contractibleness, n. contractibly, adv. n., adj., and usu. for v. 16 18, 22, 23 /kon trakt/; otherwise v. /keuhn trakt /, n. 1. an agreement between two or more parties for the doing or not doing …   Universalium

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  • Glossary of contract bridge terms — These terms are used in Contract bridge[1][2] , or the earlier game Auction bridge, using duplicate or rubber scoring. Some of them are also used in Whist, Bid whist, and other trick taking games. This glossary supplements the Glossary of card… …   Wikipedia

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  • social contract — A theory of social order that was popular in the seventeenth and eighteenth centuries, although the idea goes back to Plato. The social contract is an unwritten agreement between the state and its citizens, in which the relative rights and duties …   Dictionary of sociology

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