A Collateral Contract Can Be Used as a

question 69

Multiple Choice

A collateral contract can be used as a

• A)way to secure a loan from a bank
• B)way to get around the parol evidence rule
• C)way to enforce a cancellation charge
• D)way to avoid a disclaimer clause
• E)way to factor accounts receivable

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Definitions:

Employers and Employees

Relationship between individuals who hire and pay for labor (employers) and those who work for pay (employees) within an organizational context.

Property Rights

Legal rights that dictate the ownership and utilization of property, including the rights to sell, lease, occupy, or develop the owned property.

Individual Rights

The liberties and rights guaranteed to each person, often protected under law or constitution.

Industrial Relations System

A conceptual framework concerning the structure and processes involved in the employment relationship, including the interactions among employers, employees, and their representatives.