Sweetheart deal
Encyclopedia
The term sweetheart deal or sweetheart contract is used to describe an abnormally favorable contract
ual arrangement. A golden parachute
is an example of a type of sweetheart deal. It is frequently used in describing deals involving government officials, and hints at the presence of corruption.
In the context of employment rights, a sweetheart contract can describe a deal between an employer and a trade union
officials that benefits them both at the expense of employees.
Contract
A contract is an agreement entered into by two parties or more with the intention of creating a legal obligation, which may have elements in writing. Contracts can be made orally. The remedy for breach of contract can be "damages" or compensation of money. In equity, the remedy can be specific...
ual arrangement. A golden parachute
Golden parachute
A golden parachute is an agreement between a company and an employee specifying that the employee will receive certain significant benefits if employment is terminated. Sometimes, certain conditions, typically a change in company ownership, must be met, but often the cause of termination is...
is an example of a type of sweetheart deal. It is frequently used in describing deals involving government officials, and hints at the presence of corruption.
In the context of employment rights, a sweetheart contract can describe a deal between an employer and a trade union
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
officials that benefits them both at the expense of employees.