Which of the Following Statements Best Explains the Standard of Care

question 59

Multiple Choice

Which of the following statements best explains the standard of care in the law of tort?

• A)The standard is one that the judge expects.
• B)The standard is one that differs from person to person and activity to activity.
• C)The standard is one that society expects.
• D)The standard is one that the lawyer expects.
• E)The standard is the same for all persons and activities.

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Definitions:

Settlement Date

The date on which a trade (purchase or sale of securities) is finalized, and the buyer must make payment while the seller delivers the securities.

Zero Sum Game

A situation in finance or economics where each participant's gain or loss is exactly balanced by the losses or gains of the other participants.

American Call Option

An option contract that gives the holder the right, but not the obligation, to buy an underlying asset at a specified price within a set period, anytime until the contract's expiration.

Agreed Upon Quantity

This is the quantity of goods that the buyer and seller have mutually agreed upon for a transaction.