Tuesday, Jul 28, 2009
We have opened a new market on the departure of Barack Obama from his current position as President of the United States.
This market can be found under Politics -- Obama Administration.
Contract Rules:
This contract will settle (expire) at 100 ($10.00) if Barack Obama departs as President of the United States before midnight ET on the date specified in the contract.
The contract will settle (expire) at 0 ($0.00) if Barack Obama does not depart as President of the United States before midnight ET on the date specified in the contract.
Expiry will be based on official announcements from Barack Obama and/or the White House, as reported in three independent and reliable media sources.
A departure may be forced or voluntary. A departure includes (but is not limited to):
- Resignation
- Retirement
- Constitutional process (such as impeachment)
The departure must be permanent. If the named individual takes a leave of absence, temorarily steps aside or is temporarily relieved of duty the contract will not be expired.
A resignation does not have to result in the individual actually departing from their current position by the date specified in the contract. The contract will expire when the resignation or retirement is announced, regardless of when it takes effect. A tendered resignation that is not accepted will cause the contract to expire at 0
In the event of the named person's death before expiry the contract will be paused and expired at the the last closing price set for the contract.
Due to the nature of this contract please also see Contract Rule 1.7 Unforeseen Circumstances.
The Exchange reserves the right to invoke Contract Rule 1.8 (Time Protection) if deemed appropriate.
Any changes to the result after the contract has expired will not be taken into account - Exchange Rule 1.4
Please contact the exchange by emailing help@intrade.com if you have any questions regarding this contract before you place a trade
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