Ellen contracts with James to be her stockbroker, making stock trades for Ellen's account. Ellen need not pre- approve the trades that James makes, only trades for more than $20,000 . Ellen and James include a clause stating "that in case of any disputes arising out of this contract; the dispute shall be arbitrated using the rules of the New York Stock Exchange." Ellen learns that since signing
her contract with James, he has routinely been making trades worth more than $20,000 without her permission, and losing money. Assume that James appeals the decision of the arbitrators to a state court. He wants to argue that using the New York Stock Exchange rules was unfair to him. Most likely, James will:
a. win hands down; the rules are unfair
b. win, if he shows that the rules favor stockbrokers c. win, based on the legal doctrine of res judicata
d. lose, because the arbitrators were acting like judges
e. lose, because the courts routinely uphold arbitration proceedings
e
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A) 24.3% B) 20.5% C) 12.2% D) 8.5% E) 16.6%
Describe three situations in which numbers should be spelled out
Notice of a hearing, in most cases, is accomplished by:
a. telephone call b. e-mail c. first-class or registered mail d. subpoena
Willful violations of the Sarbanes-Oxley Act of 2002 may be subject to harsh penalties
a. True b. False Indicate whether the statement is true or false