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Cheap Principal.Jason,who is very knowledgeable regarding computers,agrees to purchase computers for Nick's business.Jason is retained for that purpose only,he is paid a set rate for the job,and Nick exercised no control over the manner in which Jason did his work.Jason purchased computers on credit from ABC Computers without any mention of Nick.The computers worked well and were not defective in any way.Unfortunately,Nick did not pay ABC Computers on a timely basis.Jason,therefore,paid ABC Computers out of his own pocket because he wanted to be able to do business with ABC in the future and because his name was on the invoice.Jason asked Nick for reimbursement,but Nick refused.Nick claimed that if Jason had only waited,ABC Computers might have agreed to take less.Did Jason have any legal liability to ABC Computers?
Derivatives Transaction
A financial agreement whose value is based on, or derived from, the value of an underlying asset or group of assets.
Arbitrage Profits
Profits generated from exploiting price differences of the same asset in different markets, buying low in one and selling high in another.
Risk Management
The process of identifying, assessing, and prioritizing risks followed by the application of resources to minimize, control, or eliminate them.
Volatility
Volatility refers to the rate at which the price of a security increases or decreases for a given set of returns, indicating the risk or uncertainty of changes in value.
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