Floor Brokers Act as Agents to Execute Customers' Orders for Securities

question 122

True/False

Floor brokers act as agents to execute customers' orders for securities purchases and sales.

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Definitions:

Promissory Estoppel

The legal enforcement of an otherwise unenforceable contract due to a party’s detrimental reliance on the contract.

Negligent Misrepresentation

A false statement of material fact made by a party who thinks it is true but who would have known the truth about the fact had he or she used reasonable care to discover or reveal it.

Statute of Frauds

A legal doctrine requiring certain contracts to be in writing and signed by the parties involved to be enforceable.

Lifetime Employment

A practice, often associated with Japanese companies, where employees are hired with an understanding or expectation of employment security until retirement.