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Simple English definitions for legal terms

cost-of-living clause

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A quick definition of cost-of-living clause:

A cost-of-living clause is a part of a contract or lease that automatically increases wages, rent, or benefits based on the rise in the cost of living. This means that if things become more expensive, the amount of money you receive will also increase. It is rare for this clause to cover a decrease in the cost of living. Inflation is a general increase in prices that happens when the value of money decreases. Cost-push inflation happens when production costs rise, while demand-pull inflation happens when there is more demand than supply.

A more thorough explanation:

A cost-of-living clause is a provision in a contract or lease that automatically increases wages, rent, or benefits based on the rise in the cost of living in the economy. This means that if the cost of living goes up, the wages, rent, or benefits will also go up to keep up with the increased expenses.

For example, if a company has a cost-of-living clause in their employee contracts, and the cost of living in the area goes up by 3%, the employees' wages will also increase by 3% to help them keep up with the increased expenses.

It is important to note that cost-of-living clauses may also cover a decrease, but this is rare. This means that if the cost of living goes down, the wages, rent, or benefits may also decrease to reflect the lower expenses.

Overall, cost-of-living clauses help to ensure that individuals and businesses can keep up with the rising cost of living and maintain their standard of living.

cost-of-living adjustment | cost-of-living index

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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