Examlex
Laney just purchased 3 call option contracts on Microsoft stock. How many shares of stock can she buy at the strike price based on these contracts?
Privity
The direct relationship between parties to a contract, conferring rights and obligations.
Warranties
Legal guarantees provided by the seller regarding the quality or performance of a product or service.
Implied Warranty
An implied warranty is a legal term for the assurances that are not explicitly stated but that the law infers that goods are fit for their intended purpose.
Subsequent Purchasers
Individuals or entities that acquire property after the first or original owner, subject to existing rights or covenants.
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