The Commission Structure on a Stock Purchase Is $50 Plus

question 73

Multiple Choice

The commission structure on a stock purchase is $50 plus $.03 per share. If you purchase 600 shares of a stock selling for $65, what is your commission?

• A) $35
• B) $45
• C) $53
• D) $68

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Definitions:

Legal Detriment

A loss or disadvantage that occurs as a result of a contract or agreement, serving as consideration for a promise in contract law.

Firm Offer

In contract law, a proposal made by a seller to supply goods or services at a fixed price, which cannot be withdrawn for a certain period.

Consideration

Something of value exchanged between parties in a contract that induces them to enter into the agreement.

Bargained-For Exchange

An exchange of promises or performance by parties to a contract that provides the consideration necessary to make the contract legally enforceable.