A _____ is a formal contract in which a terminated employee agrees not to sue the employer in exchange for specified benefits.

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22-08-2022
Business

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A _____ is a formal contract in which a terminated employee agrees not to sue the employer in exchange for specified benefits.

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anjithaka anjithaka · Answer 1 · 2022-09-01T12:36:20+02:00

A separation agreement exists as a formal contract in which a terminated employee agrees not to sue the employer in exchange for specified benefits.

What is the formal contract?

A written and legally enforceable agreement is known as a formal contract or formal agreement.

A formal contract is a binding and enforceable agreement between two parties. A contract must have an offer, an acceptance of the offer, and payment for the services or goods given in order to be legally enforceable.

An informal contract is one that is not under seal, whereas a formal contract is one that the parties have signed under seal. Any imprint that the parties to the contract made on the document are considered a seal. This was customarily done in wax and stated the parties' desires to be bound by the agreement.

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