Briefly define a terminal boundary condition
What will be an ideal response?
European options fall into this category and are characterized by the fact that they are satisfied by an asset at expiration.
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Currency risk is based on what assumption?
A) Firms that do not continuously innovate will lose market share. B) Values of foreign currencies continually rise and fall in most countries. C) Changing product lines by reacting to every current trend may alienate the customer base. D) The value of one dollar today is greater than the value of one dollar to be received one year from now. E) The U.S. stock market fluctuates daily.
Fay, 17, ordered a pair of skis on the installment plan. She paid $20 every month until she turned 18, the age of majority. The next day, she sold them to Sharon and disaffirmed the contract. What is the result?
a. Fay is still liable since she should have disaffirmed before her 18th birthday. b. Fay is still liable because she used the skis. c. Fay is not liable because skis are not necessaries. d. Fay is still liable because selling the skis amounts to ratification.
Mobile workforce support includes
A) field force automation. B) mobile office applications. C) mobile CRM. D) all of the above.
In Orkal Industries v. Array Connector, where Orkal bought parts from Array by sending an order form, but Array confirmed with its own form that contained different terms. Orkal did not object to the different terms until litigation arose later at which point the added terms mattered. The courts held that under the UCC:
a. the buyer, Orkal, controlled the terms, so the original order form controls b. the buyer, Orkal, controlled the terms, so the original order form controls; Array could have forced a change by requiring Orkal to recognize its different terms, but it failed to do so c. the seller, Array, controlled because Orkal did not object to the change in terms when the contract was formed d. the seller, Array, controlled because under UCC 2-207, a sellers terms always control e. none of the other choices are correct