Compensation

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Compensation

Arrangement under which the delivery of goods to a party is paid for by buying back a certain amount of the product from the recipient of the goods.

Compensation

Payment for services rendered. One is due compensation when one has performed a service for an employer or client. Examples of compensation include wages, salaries, tips, fees, and commissions. Compensation is usually the primary component of an individual's tax liability. It is also called remuneration.

compensation

(1) Payment for goods or services.(2) Damages necessary to restore an injured party to his or her position before the wrongdoing.(3) In eminent domain, payment to property owners for the value of the property taken and any damage caused to the value of the remaining property.

Compensation

Wages, commissions, tips, professional fees, and net self-employment income received for services rendered; that is, earned income.
References in periodicals archive ?
A bill for an Act to prohibit late payment, underpayment of workers' wage, pension and other emoluments in Nigeria, sighted by Sunday Tribune as being sponsored by the Speaker of the House of Representatives, Femi Gbajabiamila, prescribes penalties for violations and other related matters.
The Founding Fathers inserted flexibility into the Emoluments Clause by allowing public officials to disclose foreign emoluments and request the approval of Congress.
The power that is allegedly nullified is not the power to deny consent to any particular emolument; it is the opportunity to vote on the question at all, which is a right belonging to each individual member of Congress.
In 1975, the Supreme Court of New Mexico explained that the term emolument "does not refer to the fixed salary alone that is attached to the office, but includes such fees and compensation as the incumbent of the office is by law entitled to receive." (30) This is also the view of judicial authority from other state supreme courts, including, for example, the Supreme Court of Washington (31) and the Supreme Court of Minnesota, (32) of state executive branch officers, (33) and of persuasive domestic (34) and foreign (35) scholarly authority.
The Constitution itself provides a synonym for "emolument" in Article II, section 1, clause 7, which is sometimes called the Compensation Clause.
"Professionals shouldn't underestimate the fluidity of recruitment in banking in the UAE," Emolument said.
As noted above, an emolument includes compensation or other items of value.
The former minister agreed to receive the emolument only after consultations to ensure that it did not contradict Bahrain's constitution and was keen to pay it back after learning that there had been a suspicion it had contravened the constitution, Mr Humaidan said.
Information from Torit outlined the major problems facing the Speaker was management and disbursement of assembly fund especially emolument to members she regards loyal to her.
Current law required the reporting of the salary, compensation, and emolument received by the three senior officers and directors of the company and the salary, compensation, or emoluments received by any officer or other person, firm, or corporation which amounts to more than $60,000 annually.
Business must be prepared for another fight because what can happen is that a bill like this earns a veto, but the losing side negotiates for an emolument to ease the pain, one which ends up being taken out of the hide of business in some other form.