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An implicit contract can be an explicitly written document or a tacit agreement (some people call the former an "explicit contract"). The contract is self-enforcing, meaning that neither of the two parties would be willing to breach the implicit contract in absence of any external enforcement since both parties would be worse off otherwise.
Arthur Morris Blank (born September 27, 1942) is an American businessman.He is best known for being a co-founder of the home improvement retailer The Home Depot. [2]Blank owns two professional sports teams based in Atlanta, Georgia – the Atlanta Falcons of the National Football League (NFL) and Atlanta United FC of Major League Soccer (MLS), the latter of which won the 2018 MLS Cup [3 ...
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An employment contract should clearly define all terms and conditions of the employment relationship. The most common elements to any employment contract include the following: [citation needed] Terms of employment; Employee responsibilities; Employee compensation (i.e. wage/salary, benefits) Employment absence; Dispute resolution ...
Marcus, who had a net worth of about $7.4 billion, according to Bloomberg’s Billionaire Index, gained his fortune from establishing The Home Depot with Arthur Blank in 1978.
Along with Arthur Blank, Marcus opened the first two Home Depot stores in Atlanta in 1979. Marcus served as CEO from the company's inception until 1997, and he was active in the company until 2002.
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