What Happened After Lehman Brothers Went Out of Business in September

question 13

Multiple Choice

What happened after Lehman brothers went out of business in September of 2008?

• A) The stock market rose dramatically.
• B) The stock market rose slightly.
• C) The stock market was essentially unchanged.
• D) The stock market dropped slightly.
• E) The stock market dropped dramatically.

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Definitions:

Assignment

The transfer of rights under a contract to another party.

Negotiation

Direct communication between the parties to a dispute in an effort to resolve the problems without third-party intervention; transferring negotiable instruments to third parties.

Negotiable Instrument

A legal document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee able to transfer it to another holder.

Endorsement

A signature or stamp on a document or instrument that signifies approval, support, or transfer of rights.