This is just plain curiosity. But my wife signed a two-year contract at her place of employment when she signed on for job. She works in NYC and the agreement stipulates that if she leaves early, she'll have to pay up a fine of $8000.
Recently, due to the recession, the entire company received a paycut which in turn reduced her salary from the stated amount on her 2-year contract.
Does this mean the contract has been invalidated?
Cynic.
legality of an employment contract
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legality of an employment contract
Ancient History wrote:We were working on Street Magic, and Frank asked me if a houngan had run over my dog.
The short answer is: ask an employment lawyer of that state, and look at the controlling law of the contract.
The long answer is: it depends. There are a variety of factors ranging from whether the possibility of a pay cut is included in the contract to the what the controlling law for the contract is (just because you work in NYC doesn't mean you contract can't be litigated under a state with more company-friendly laws). New York might also have laws about what employment contracts are enforcable. I don't know. Employment law is an entire area of the law with its own nooks and crannies, so you need an expert to navigate it.
The correct answer is: are you willing to pay a lawyer 5K to litigate for 8K, with the possibility of also paying their attorney's fees?
The long answer is: it depends. There are a variety of factors ranging from whether the possibility of a pay cut is included in the contract to the what the controlling law for the contract is (just because you work in NYC doesn't mean you contract can't be litigated under a state with more company-friendly laws). New York might also have laws about what employment contracts are enforcable. I don't know. Employment law is an entire area of the law with its own nooks and crannies, so you need an expert to navigate it.
The correct answer is: are you willing to pay a lawyer 5K to litigate for 8K, with the possibility of also paying their attorney's fees?
Or, if you're super ballsy, you can ditch the company and then see if they have enough confidence in their contract to spend 5k to litigate for 8k. Although really, just start by reading the contract. The contract itself honestly won't be that complicated, and sentences like "We reserve the right to cut your pay" should be easy to spot.
K & Gelare: thanks for the input.
you guys basically reaffirmed my suspicions. It's pretty late. But I'll probably look at the contract a little more when there is coffee, daylight, and awakeness.
you guys basically reaffirmed my suspicions. It's pretty late. But I'll probably look at the contract a little more when there is coffee, daylight, and awakeness.
Ancient History wrote:We were working on Street Magic, and Frank asked me if a houngan had run over my dog.