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Given a 5,000 bushel futures contract on grain at a price of $3.25 per bushel,a margin requirement of 5 percent and a maintenance margin of 80 percent,your customer wants to know on a single contract,how much would the price per bushel have to fall before additional margin would be required.
Duty of Competence
The legal ethical requirement that lawyers maintain the knowledge, skill, and ability to provide competent representation to their clients.
Legal Profession
A field of occupation that includes lawyers, judges, paralegals, and other professionals who provide services related to the law.
Attorney-Client Confidentiality
A legal principle that ensures communication between a lawyer and their client remains private and cannot be disclosed without the client's permission.
Rule of Competence
A principle stating that legal professionals must possess the necessary skills and knowledge to effectively represent their clients.
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