The Last Day on Which an Owner of an Option

question 29

Multiple Choice

The last day on which an owner of an option can elect to exercise that option is referred to as the ________ date.

• A)ex-payment
• B)ex-option
• C)opening
• D)expiration
• E)intrinsic

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Definitions:

Holder in Due Course

A legal term referring to a person who has received a negotiable instrument in good faith and for value, enjoying certain protections against defects in the instrument and prior claims.

Promissory Note

A financial instrument containing a written promise by one party to pay another party a definite sum of money either on demand or at a specific future date.

Good Faith

Good faith refers to an honest intention to act without taking an unfair advantage over another party, often used to denote sincerity in negotiations or in fulfilling contractual obligations.

Failure of the Forklift

Failure of the forklift refers to the breakdown or malfunctioning of a forklift vehicle, which can impact operations, primarily in warehousing and logistics.