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Employment at Will
(redirected from Breach of an Implied Covenant of Good Faith and Fair Dealing)

   Also found in: Legal 0.01 sec.
Employment at Will
A form of employment in which either the employee or the employer may terminate employment with or without cause and with or without notice. For example, an employee may quit as soon as he/she finds a better job. Likewise, the employer may fire an employee even if he/she comes to work on time and performs diligently. Employment at will is not allowed in all jurisdictions and it is restricted even where it exists. For example, an employer ordinarily may not fire a worker on racial or religious grounds.


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Oral and written statements can be used against an organization by an employee who claims breach of implied contract promise or breach of an implied covenant of good faith and fair dealing.
In a decision dated October 25, 2002, the Supreme Court of the State of New York granted the Company's motion to dismiss the Trustee's amended complaint and issued a declaratory judgment (the "Declaratory Judgment") in favor of the Company that the Exchange Offer, if consummated, would not (i) violate the terms of the indenture governing the Senior Notes, or give rise to an event of default thereunder, or (ii) constitute a breach of an implied covenant of good faith and fair dealing.
In a decision dated October 25, 2002, the Supreme Court of the State of New York granted the Company's motion to dismiss the Trustee's amended complaint and issued a declaratory judgment in favor of the Company that the Exchange Offer, if consummated, would not (i) violate the terms of the indenture governing the Senior Notes, or give rise to an event of default thereunder, or (ii) constitute a breach of an implied covenant of good faith and fair dealing.
 
 
 
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