Labor contracts are formal agreements between employers and employees that outline the terms of employment. These contracts typically include details such as job responsibilities, salary, benefits, work hours, and conditions for termination. They serve to protect the rights of both parties and ensure clear expectations. In many cases, labor contracts are negotiated by labor unions on behalf of workers. These unions advocate for fair wages and safe working conditions, helping to balance the power dynamics between employees and employers. Overall, labor contracts play a crucial role in maintaining a fair workplace environment.