Study on the Characters of Incomplete Labor Contract

Labor contract is the core contract in enterprise.Because of its special nature of the transaction object, the labor contract is an incomplete contract.This article analyses its characters based on the modern enterprise theory, such as the core of labor contract transactions is the exclusive and specific human capital,and the labor contract in fact is a long-term employment contract.At the same time,compared with other contracts,labor contract transaction has some obstacles in its executive course,such as non-symmetrical distribution of information,employee and employer's opportunism,as well as the problem of production measuring under the form of teamwork.