See Also: Severance Pay(money)
Severance(money)
Severance(finance)
severance(dictionary)
severance(dictionary)
Severance Pay(law)
SEVERANCE, estates(law)
SUMMONS AND SEVERANCE(law)

severance (iou)



severance noun. LME.
[Anglo-Norman severance, Old French sevrance, from severer, sevrer: see SEVER, -ANCE.]
The action or fact of severing; the state of being severed; an instance of this; (a) separation. Formerly also, a distinction or difference between. LME.
Law.
a. The division of a joint estate into independent parts; the ending by this means of a joint tenancy. M16.
b. The removal of crops, minerals, fixtures, etc. from land, a building, etc. E17.
c. The separation and removal by a nonsuit of a plaintiff of two or more in a joint action. Also, the entering of independent pleas by two or more defendants. E17.
Discharge from contractual employment. Also ellipt. = severance pay below. M20.
Comb.: severance pay money paid to an employee on the early termination of a contract.