Claudette Is Being Terminated from Her Position as the Chief

question 38

Multiple Choice

Claudette is being terminated from her position as the Chief Financial Officer of a private university. She has signed an agreement in which she has agreed not to to sue the employer in return of certain benefits. This best exemplifies a(n) _____.

• A) separation agreement
• B) yellow-dog contract
• C) severance contract
• D) employment contract

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Definitions:

Law Merchant

In England, the commercial law developed by merchants who needed a set of rules to govern their business transactions.

Holder in Due Course

A person or entity that has acquired a negotiable instrument in good faith and has certain protections under the law.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.

Rights

Entitlements or permissions, usually legal or moral, that individuals or groups have to certain actions or claims, without interference from others.