When Myrtle Comes Home from Work One Evening,she Finds That

question 35

Multiple Choice

When Myrtle comes home from work one evening,she finds that her yard has been mowed and trimmed.Later,a man comes to collect for the yard work done.Myrtle refuses to pay for the work since she has never seen the man before and did not hire him to do her yard work.Which of the following answers is most accurate?

• A)This is an implied,unilateral contract and she must pay the price requested by the man.
• B)This is an express,voidable contract that either party may avoid.
• C)The court would order Myrtle to pay the reasonable value of the yard work because of the benefit conferred on her.
• D)Myrtle would not have to pay for the yard work.

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Definitions:

Expiration Date

The specified date on which an option, futures contract, or other derivative expires, and settles by either physical delivery or cash settlement.

Convertible Bond

A convertible bond is a type of bond that can be converted into a predetermined number of the issuing company's shares at the discretion of the bondholder, typically at certain times during its life.

Conversion Value

In convertible securities, the value of the security if it were converted into a different form, such as from a bond to stock.

Straight Bond Value

The value of a bond that pays a fixed interest rate and does not have any embedded options or features.