You Owned an Option That Expires on February 21

question 13

Multiple Choice

You owned an option that expires on February 21. You exercised the option on February 3. The option must have been a(n) :

• A) call option.
• B) put option.
• C) European option.
• D) American option.
• E) Insufficient information.

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Definitions:

Void

A term describing a legal document that is null and has no legal force or effect.

Willful

Actions done intentionally or with reckless disregard for the outcome, particularly relating to misconduct or negligence.

Restrictive Covenant

A clause in a contract that restricts or limits one party from engaging in certain activities, often to protect business interests.

Breach of Contract

A breach of contract occurs when one party fails to fulfill their obligations under the contract, leading to potential legal consequences or the right for the other party to seek damages.