Friday, Oct 9, 2009
Intrade has listed a market on the possible departure of Hillary Clinton from her current position as US Secretary of State before the end of President Obama's first term in office.
This market can be found under Politics -- Obama Administration.
This contract will settle (expire) at 100 ($10.00) if Hillary Clinton departs as US Secretary of State before the end of President Obama's first term in office.
The contract will settle (expire) at 0 ($0.00) if Hillary Clinton does not depart as US Secretary of State before the end of President Obama's first term in office.
Expiry will be based on official announcements from Hillary Clinton an/or the White House, as reported in three independent and reliable media sources.
The end of President Obama's first term is considered to be midnight ET on the day before the 2012 election (i.e midnight ET on 5th November 2012).
A departure may be forced or voluntary. A departure includes (but is not limited to):
- Reassignment to a different position
- Being fired from position
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 email@example.com if you have any questions regarding this contract before you place a trade