Ralph Is a Professional Football Player

question 36

Multiple Choice

Ralph is a professional football player.He signs a valid contract with the Miami Dolphins.Later,he claims that he was also promised free use of the Dolphins' private jet,but this was not in the contract.What type of clause in his contract would prevent him from flying away with this claim?

• A)a complete agreement clause
• B)a "no additional terms" clause
• C)an integration clause
• D)a severability clause

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Definitions:

Lump Sum

A single payment made at a particular time, as opposed to a series of smaller payments or installments.

Annual Payments

Annual payments are payments made once a year for various financial commitments such as loans, insurance policies, or rent, providing a means to manage large payment obligations over time.

Interest Rate

The expense a borrower is obliged to pay to a lender, formulated as a percentage of the principal, for the service of borrowing assets.

Present Value

The present amount of a future sum of money or sequence of cash flows, discounted by a chosen rate of return.