Abandonment And Salvage
You give up a boat anchored to a dock that you just don't want anymore. It had $12,000 left in bank payments. You're moving to Somalia, so you don't care about your credit rating. You've abandoning the boat with clear legal intent, i.e. not just leaving it for 3 months while you climb Everest. The bank will sell the boat on eBay (or eBoat) and salvage its value. The boat may bring in a hundred grand. The bank will take its 12k off the top and then charge massively for its time, its lawyers time, and any other fees it can possibly think of so that it may claim another 38k in fees, leaving 50 grand left over after the boat has been sold. It will then hold that money until you try to claim it - and you'll have all kinds of hoops to jump through with judges if in fact you do want to claim that dough - deadbeats who just abandon things and leave the country don't have a whole lot of legal sway here.
Related or Semi-related Video
Finance: What is Intrinsic Value (of An ...6 Views
Finance allah shmoop what is the intrinsic value of an
option All right this is brandi She owns a twelve
dollars strike price call option toe buy a share of
my fifteen minutes are up dot com a retirement home
chain for reality tv stars who recently gained self awareness
Well the stock is trading for fifteen bucks a share
of this moment Her strike price is twelve so the
intrinsic value of that option is fifteen minutes twelve or
three bucks that is it is three dollars in the
money and if brandy converted it into a share this
moment and then immediately sold the stock for fifteen dollars
in cash well she'd make three bucks But there's a
catch per call option doesn't expire for five weeks so
that three dollars in the money is actually worth more
than three dollars because she has data or time yet
to exercise and convert or just sell the option itself
So it's worth mohr because well a stock might go
up from fifteen dollars in overtime Stocks go up so
in the next five weeks well couldn't go up a
dime twenty cents twenty five cents and make that three
Dollars worth three ten three twenty three Twenty five Sure
sure it could happen So yeah that's The difference between
actual value and intrinsic value You get seita kickers in
there making the option's worth more than just converting them
into stock and selling them right there And yeah it
looks like our one and a half minutes are up
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