Contract Theory Essay Samples and Topic Ideas

Contract theory, a person’s ethical or moral behavior and obligation depend on the terms of a contract entered into by the parties (Waller, 2008). In this regard, this rule is protected by the non-compete clause signed by each employee at the beginning of their employment contract (Sonderholm, 2010). Also, business relationships are dependent upon virtues. According to Plato’s virtue ethics, a virtuous person acts according to the personal agreement and is morally bound to the contract of employment (Waller, 2008). They should be able to act well even if it is totally difficult for them to do so. Thus according to the business agreement, the property belongs to the employer even if the employee...

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