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Even though the buyer has the right but not the obligation to exercise the option, the seller obligated to fulfill the terms of the contract if the buyer decides to exercise the option.The majority of options contracts are not exercised, but instead are allowed to expire worthless or are closed by opposing positions.

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This is achieved through an exercise notice, the broker's notification that a client wishes to exercise his or her right to buy or sell the underlying security.

The exercise notice is forwarded to the option seller via the Options Clearing Corporation.

I hope, at some point in her life, that she will forgive me."But District Attorney Colon Willoughby said Ruth, a highly respected judge who had the potential to go on to the state Court of Appeals or state Supreme Court, was not the only victim of the crime.

Crouch's actions also caused "tremendous harm" to his family, the people who worked for him and how the Wake County Courthouse operates."It's caused great harm to the practice of law and how we'll be able to practice law in this district and how we'll be able to do the business that the people expect us to do because of the level of distrust created because of this defendant's conduct," Willoughby said.

James Crouch pleaded guilty last month to charges that he backdated convictions in an effort to shorten or eliminate license suspensions in approximately 50 driving while impaired cases from May 2008 to April 2012.

The sentence, handed down by Superior Court Judge Paul Ridgeway, was the harshest possible under state sentencing guidelines."The offenses for which I have imposed judgment erode the trust and integrity that is so important to our system of justice," Ridgeway said.

For too long, contract management has been cast in the “too hard” and “so what? We are now at an inflection point due to the confluence of the following events: Before we delve further, it might help to summarise the current state of play and how we got here.

The earliest General Counsel were not ipso facto members of the C-suite – the move from private practice to inhouse was in fact regarded as the “soft” option.

Eager to impress with quick wins, many a legal team rushed into implementing matter management systems with the primary purpose of workload tracking and reporting.

Legal briefings to the executive team were dominated by narratives of the top matters on the team’s plate, subjectively ranked by each individual lawyer.

Crouch was indicted in June on two felony counts of obstruction of justice and one felony count each of criminal conspiracy and altering court documents – charges that carry a maximum of 13 years in prison.

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